Nigeria: Mica Market Overview 2020

Mica Market Size in Nigeria

The revenue of the mica market in Nigeria amounted to $X in 2017, growing by X% against the previous year. Overall, the total market indicated a strong expansion from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the mica consumption decreased by -X% against 2013 indices. The pace of growth was the most pronounced in 2010, with an increase of X% y-o-y. Over the period under review, the mica market reached its peak figure level of $X in 2013; however, from 2014 to 2017, it stood at a somewhat lower level.

Mica Production in Nigeria

In 2017, the amount of mica produced in Nigeria totaled X tonnes, going up by X% against the previous year. Overall, the total output indicated a prominent increase from 2007 to 2017: its volume increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the mica production increased by +X% against 2007 indices. The growth pace was the most rapid in 2017, when the output figure increased by X% year-to-year. In that year, the mica production reached their peak volume, and is likely to continue its growth in the immediate term.

Mica Exports from Nigeria

In 2017, approx. X tonnes of mica were exported from Nigeria; increasing by X% against the previous year. Overall, mica exports continue to indicate a deep descent. The most prominent rate of growth was recorded in 2009, when exports increased by X% against the previous year. Over the period under review, the mica exports reached its peak figure volume of X tonnes in 2013; however, from 2014 to 2017, it failed to regain its momentum.

In value terms, mica exports totaled $X in 2017. Overall, mica exports continue to indicate a sharp slump. Nigeria exports peaked of $X in 2013; however, from 2014 to 2017, it stood at a somewhat lower level.

Mica Exports by Country from Nigeria

In 2017, Madagascar (X tonnes), distantly followed by India (X tonnes), China (X tonnes) and Brazil (X tonnes) represented the main exporters of mica, together constituting X% of total exports. The following exporters - Spain (X tonnes), Japan (X tonnes) and Sri Lanka (X tonnes) together made up X% of total exports.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Madagascar (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the largest mica supplier from Nigeria, making up X% of global exports. The second position in the ranking was occupied by Madagascar ($X), with a X% share of global exports. It was followed by China, with a X% share.

In India, mica exports increased at an average annual rate of +X% over the period from 2007-2017. In the other countries, the average annual rates were as follows: Madagascar (+X% per year) and China (+X% per year).

Mica Export Prices by Country in Nigeria

The mica export price in Nigeria stood at $X per tonne in 2017, falling by -X% against the previous year. Overall, mica export price continues to indicate a deep contraction. The growth pace was the most rapid in 2013, when the export prices increased by X% against the previous year. Over the period under review, the export prices for mica attained its maximum level of $X per tonne in 2008; however, from 2009 to 2017, it stood at a somewhat lower level.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was Brazil ($X per tonne), while Madagascar ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by China (+X% per year), while the other leaders experienced more modest paces of growth.

Mica Imports into Nigeria

In 2017, approx. X tonnes of mica were imported into Nigeria; jumping by X% against the previous year. In general, mica imports continue to indicate a precipitous drop. The most prominent rate of growth was recorded in 2013, with an increase of X% against the previous year. Nigeria imports peaked of X tonnes in 2008; however, from 2009 to 2017, it failed to regain its momentum.

In value terms, mica imports amounted to $X in 2017. Overall, mica imports continue to indicate a dramatic contraction. Nigeria imports peaked of $X in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.

Mica Imports by Country into Nigeria

China was the main importer of mica in the world, with the volume of imports reaching X tonnes, which was near X% of total imports in 2017. Russia (X tonnes) ranks second in terms of the global imports with a X% share, followed by Germany (X%), Japan (X%), the U.S. (X%), the UK (X%) and South Korea (X%).

From 2007 to 2017, average annual rates of growth with regard to mica imports into China stood at +X%. At the same time, Germany (+X%), the UK (+X%), Russia (+X%), Japan (+X%), South Korea (+X%) and the U.S. (+X%) displayed positive paces of growth. Moreover, Germany emerged as the fastest growing importer in the world, with a CAGR of +X% from 2007-2017. From 2007 to 2017, the share of the U.S., South Korea, Japan, the UK, Germany, Russia and China decreased by -X%, -X%, -X%, -X%, -X%, -X% and -X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported mica into Nigeria, making up X% of global imports. The second position in the ranking was occupied by Japan ($X), with a X% share of global imports. It was followed by Russia, with a X% share.

In China, mica imports expanded at an average annual rate of +X% over the period from 2007-2017. In the other countries, the average annual rates were as follows: Japan (+X% per year) and Russia (+X% per year).

Mica Import Prices by Country in Nigeria

In 2017, the mica import price in Nigeria amounted to $X per tonne, leveling off at the previous year. In general, mica import price continues to indicate a significant shrinkage. The growth pace was the most rapid in 2016, when the import prices increased by X% against the previous year. Nigeria import price peaked of $X per kg in 2007; however, from 2008 to 2017, it stood at a somewhat lower level.

There were significant differences in the average import prices amongst the major importing countries. In 2017, the country with the highest import price was China ($X per tonne), while South Korea ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by South Korea (+X% per year), while the other leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform