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Nigeria - Liquefied Petroleum Gas (LPG) - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Liquefied Petroleum Gas (LPG) in Nigeria - 2022
Contents:
- Price for Liquefied Petroleum Gas (LPG) in Nigeria (FOB) - 2022
- Price for Liquefied Petroleum Gas (LPG) in Nigeria (CIF) - 2022
- Exports of Liquefied Petroleum Gas (LPG) in Nigeria
- Imports of Liquefied Petroleum Gas (LPG) in Nigeria
Price for Liquefied Petroleum Gas (LPG) in Nigeria (FOB) - 2022
The average liquefied petroleum gas (LPG) export price stood at $407 per ton in 2022, declining by -3.4% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 25% against the previous year. The export price peaked at $822 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($1,430 per ton), while the average price for exports to Vietnam ($20 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 Belgium (+5.4%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Liquefied Petroleum Gas (LPG) in Nigeria (CIF) - 2022
The average liquefied petroleum gas (LPG) import price stood at $1,502 per ton in 2022, which is down by -34.9% against the previous year. Over the period under review, the import price, however, saw a strong increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 93%. As a result, import price attained the peak level of $2,306 per ton, and then fell sharply in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($1,475 per ton), while the price for Niger stood at $652 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+12.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Liquefied Petroleum Gas (LPG) in Nigeria
After two years of decline, overseas shipments of liquefied petroleum gas (LPG) increased by 87% to 876K tons in 2022. Overall, exports, however, saw a sharp curtailment.
In value terms, liquefied petroleum gas (LPG) exports surged to $357M in 2022. Over the period under review, exports, however, recorded a sharp contraction.
Export of Liquefied Petroleum Gas (LPG) in Nigeria (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 116 | 114 | 59.1 | 111 | -1.5% |
Niger | N/A | N/A | 3.1 | 47.3 | 1425.8% |
Philippines | 38.0 | 37.4 | 6.7 | 32.2 | -5.4% |
Mexico | 61.0 | 55.5 | 12.1 | 26.6 | -24.2% |
Belgium | 83.0 | 48.3 | 17.7 | 22.8 | -35.0% |
United States | 55.8 | 48.1 | 9.9 | 22.3 | -26.3% |
Japan | 42.0 | 15.2 | 8.4 | 10.2 | -37.6% |
Brazil | 21.6 | 18.0 | 3.8 | 7.9 | -28.5% |
Indonesia | 65.3 | 2.3 | 9.2 | 5.9 | -55.1% |
South Africa | 3.4 | 2.9 | 0.8 | 5.1 | 14.5% |
France | 14.4 | 7.3 | 2.1 | 2.1 | -47.4% |
Vietnam | 67.2 | 5.3 | 1.8 | 2.1 | -68.5% |
India | N/A | 21.8 | N/A | N/A | 0% |
Others | 230 | 139 | 63.3 | 61.4 | -35.6% |
Total | 797 | 516 | 198 | 357 | -23.5% |
Top Export Markets for Liquefied Petroleum Gas (LPG) from Nigeria in 2022:
- Mexico (187.3K tons)
- China (165.4K tons)
- Vietnam (108.4K tons)
- Niger (106.8K tons)
- Philippines (43.1K tons)
- Japan (38.0K tons)
- Brazil (33.9K tons)
- United States (30.1K tons)
- Indonesia (23.4K tons)
- South Africa (21.7K tons)
- France (17.9K tons)
- Belgium (15.9K tons)
Imports of Liquefied Petroleum Gas (LPG) in Nigeria
In 2022, imports of liquefied petroleum gas (LPG) into Nigeria skyrocketed to 66K tons, increasing by 93% compared with 2021 figures. In general, imports, however, recorded a drastic downturn.
In value terms, liquefied petroleum gas (LPG) imports soared to $98M in 2022. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +11.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -14.8% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 61%. As a result, imports reached the peak of $115M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
Import of Liquefied Petroleum Gas (LPG) in Nigeria (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 70.6 | 115 | 71.9 | 95.8 | 10.7% |
Others | 1.0 | 0.9 | 6.3 | 2.5 | 35.7% |
Total | 71.6 | 115 | 78.2 | 98.4 | 11.2% |
Top Suppliers of Liquefied Petroleum Gas (LPG) to Nigeria in 2022:
- United States (65.0K tons)
This report provides an in-depth analysis of the market for liquefied petroleum gas (lpg) 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:
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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