Report Update Apr 1, 2024

Nigeria - Unwrought Zinc - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Zinc Market 2024

Zinc Market Size in Nigeria

The Nigerien zinc market soared to $X in 2022, rising by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a drastic downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Zinc Exports

Exports from Nigeria

After six years of growth, overseas shipments of unwrought zinc decreased by X% to X tons in 2022. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, leveling off in the following year.

In value terms, zinc exports soared to $X in 2022. Over the period under review, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

India (X tons) was the main destination for zinc exports from Nigeria, accounting for a X% share of total exports. Moreover, zinc exports to India exceeded the volume sent to the second major destination, Mexico (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and China (X% per year).

In value terms, India ($X) remains the key foreign market for unwrought zinc exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and China (X% per year).

Export Prices by Country

The average zinc export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price, however, showed a noticeable slump. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced mixed trend patterns.

Zinc Imports

Imports into Nigeria

In 2022, zinc imports into Nigeria soared to X tons, with an increase of X% compared with 2021. In general, imports, however, recorded a deep downturn. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, zinc imports surged to $X in 2022. Over the period under review, imports, however, showed a perceptible descent. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest zinc supplier to Nigeria, with a X% share of total imports. Moreover, zinc imports from India exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fourfold. The third position in this ranking was held by Brazil (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Brazil (X% per year).

In value terms, India ($X) constituted the largest supplier of unwrought zinc to Nigeria, comprising X% of total imports. The second position in the ranking was taken by Belgium ($X), with a X% share of total imports. It was followed by Brazil, with an X% share.

From 2012 to 2022, the average annual growth rate of value from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the average zinc import price amounted to $X per ton, jumping by X% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Belgium ($X per ton) and Brazil ($X per ton), while the price for Malaysia ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for unwrought zinc in the world?

China remains the largest zinc consuming country worldwide, accounting for 27% of total volume. Moreover, zinc consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. Peru ranked third in terms of total consumption with a 7.8% share.

What are the largest producers of unwrought zinc in the world?

China constituted the country with the largest volume of zinc production, comprising approx. 26% of total volume. Moreover, zinc production in China exceeded the figures recorded by the second-largest producer, Peru, threefold. The third position in this ranking was taken by Australia, with a 5% share.

What are the leading suppliers of unwrought zinc to Nigeria?

In value terms, India constituted the largest supplier of unwrought zinc to Nigeria, comprising 55% of total imports. The second position in the ranking was held by Belgium, with a 16% share of total imports. It was followed by Brazil, with an 11% share.

What are the leading importers of unwrought zinc from Nigeria?

In value terms, India remains the key foreign market for unwrought zinc exports from Nigeria, comprising 61% of total exports. The second position in the ranking was taken by Mexico, with a 28% share of total exports.

What is the average export price for unwrought zinc in Nigeria?

The average zinc export price stood at $1,664 per ton in 2022, surging by 16% against the previous year.

What is the average import price for unwrought zinc in Nigeria?

The average zinc import price stood at $4,445 per ton in 2022, picking up by 39% against the previous year.

This report provides an in-depth analysis of the zinc market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24431230 - Unwrought non-alloy zinc (excluding zinc dust, powders and flakes)

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023