Price for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Nigeria - 2023
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Nigeria (CIF) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Nigeria
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Nigeria (CIF) - 2022
The average import price for acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses stood at $1,816 per ton in 2022, growing by 14% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($2,916 per ton), while the price for India ($999 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Nigeria
In 2022, overseas purchases of acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses decreased by -24.5% to 2.4K tons, falling for the second year in a row after two years of growth. Over the period under review, imports showed a sharp decline. The most prominent rate of growth was recorded in 2020 with an increase of 41%. As a result, imports reached the peak of 7.8K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses dropped to $4.4M in 2022. In general, imports faced a abrupt slump. The pace of growth was the most pronounced in 2020 when imports increased by 60% against the previous year. As a result, imports reached the peak of $12M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.2 | 5.4 | 2.5 | 2.8 | -12.6% |
| Germany | 1.5 | 4.1 | 1.5 | 0.9 | -15.7% |
| Netherlands | 0.9 | 1.3 | 0.7 | 0.5 | -17.8% |
| United States | 0.2 | 0.4 | 0.1 | 0.1 | -20.6% |
| Others | 0.5 | 0.5 | 0.3 | 0.2 | -26.3% |
| Total | 7.3 | 11.7 | 5.2 | 4.4 | -15.5% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters to Nigeria in 2022:
- China (1567.2 tons)
- Germany (573.4 tons)
- Netherlands (209.4 tons)
- United States (17.2 tons)
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