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Nigeria - NPK Fertilizers - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Npk Fertilizer Market 2024
Npk Fertilizer Market Size in Nigeria
In 2023, after two years of growth, there was decline in the Nigerien NPK fertilizer market, when its value decreased by X% to $X. In general, the total consumption indicated a temperate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level of $X, and then declined modestly in the following year.
Npk Fertilizer Production in Nigeria
In value terms, NPK fertilizer production dropped to $X in 2023 estimated in export price. Overall, production, however, recorded tangible growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2023, production growth remained at a somewhat lower figure.
Npk Fertilizer Exports
Exports from Nigeria
In 2023, approx. X tons of mixed nitrogen, phosphorus and potassium (NPK) fertilizers were exported from Nigeria; increasing by X% against the previous year's figure. Overall, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are likely to see steady growth in years to come.
In value terms, NPK fertilizer exports soared to $X in 2023. In general, exports enjoyed a prominent increase. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the near future.
Exports by Country
Burkina Faso (X tons) was the main destination for NPK fertilizer exports from Nigeria, accounting for a X% share of total exports. Moreover, NPK fertilizer exports to Burkina Faso exceeded the volume sent to the second major destination, Togo (X tons), tenfold.
From 2012 to 2023, the average annual growth rate of volume to Burkina Faso stood at X%.
In value terms, Burkina Faso ($X) emerged as the key foreign market for mixed nitrogen, phosphorus and potassium (NPK) fertilizers exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Togo ($X), with a X% share of total exports.
From 2012 to 2023, the average annual growth rate of value to Burkina Faso amounted to X%.
Export Prices by Country
The average NPK fertilizer export price stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the export price, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2016 an increase of X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Togo ($X per ton), while the average price for exports to Burkina Faso stood at $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Togo (X%), while the prices for the other major destinations experienced mixed trend patterns.
Npk Fertilizer Imports
Imports into Nigeria
In 2023, overseas purchases of mixed nitrogen, phosphorus and potassium (NPK) fertilizers were finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.
In value terms, NPK fertilizer imports soared to $X in 2023. In general, imports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2016 when imports increased by X%. As a result, imports reached the peak of $X. From 2017 to 2023, the growth of imports failed to regain momentum.
Imports by Country
Israel (X tons), China (X tons) and the UK (X tons) were the main suppliers of NPK fertilizer imports to Nigeria, with a combined X% share of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest NPK fertilizer suppliers to Nigeria were the UK ($X), China ($X) and Israel ($X), with a combined X% share of total imports.
Among the main suppliers, China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average NPK fertilizer import price stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the npk fertilizer 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:
- FCL 4021 - NPK fertilizers
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
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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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