Nigeria: Tantalum Market 2022

Tantalum Market Size in Nigeria

In 2021, the Nigerien tantalum market decreased by -X% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2017 indices. Over the period under review, the market hit record highs at $X in 2020, and then declined modestly in the following year.

Tantalum Production in Nigeria

In value terms, tantalum production declined slightly to $X in 2021 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +X% against 2017 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Tantalum Exports

Exports from Nigeria

In 2021, after two years of decline, there was decline in overseas shipments of tantalum, when their volume decreased by X% to less than X kg. Over the period under review, exports saw a relatively flat trend pattern. The exports peaked at X tonnes in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, tantalum exports amounted to $less than X in 2021. Overall, exports saw a significant increase. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tonnes) was the main destination for tantalum exports from Nigeria, with a approx. X% share of total exports.

From 2012 to 2018, the average annual rate of growth in terms of volume to Malaysia was relatively modest.

From 2012 to 2018, the average annual rate of growth in terms of value to Malaysia was relatively modest.

Export Prices by Country

The average tantalum export price stood at $X per tonne in 2018, approximately equating the previous year. Over the period under review, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs in 2018 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Malaysia.

From 2012 to 2018, the rate of growth in terms of prices for Malaysia amounted to X% per year.

Tantalum Imports

Imports into Nigeria

In 2021, imports of tantalum into Nigeria contracted sharply to less than X kg, which is down by -X% on the previous year. Over the period under review, imports faced a sharp decline. As a result, imports attained the peak of X kg. From 2014 to 2021, the growth imports remained at a somewhat lower figure.

In value terms, tantalum imports fell remarkably to $less than X in 2021. In general, imports recorded a dramatic downturn. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth imports remained at a somewhat lower figure.

Imports by Country

In 2020, the United States (X kg) was the main supplier of tantalum to Nigeria, accounting for a approx. X% share of total imports.

From 2012 to 2020, the average annual rate of growth in terms of volume from the United States was relatively modest.

In value terms, the United States ($X) constituted the largest supplier of tantalum to Nigeria.

From 2012 to 2020, the average annual rate of growth in terms of value from the United States was relatively modest.

Import Prices by Country

The average tantalum import price stood at $X per tonne in 2020, stabilizing at the previous year. In general, the import price showed a significant curtailment. The growth pace was the most rapid in 2015 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per tonne. From 2016 to 2020, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2020, the rate of growth in terms of prices for the United States amounted to X% per year.

Source: IndexBox Platform