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Nigeria - Phenols and Other Oils and Oil Products - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Market for Phenols And Other Oils And Oil Products 2024
Market Size for Phenols And Other Oils And Oil Products in Nigeria
In 2023, the Nigerien market for phenols and other oils and oil products increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption continues to indicate a relatively flat trend pattern. Consumption of peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.
Production of Phenols And Other Oils And Oil Products in Nigeria
In value terms, production of phenols and other oils and oil products skyrocketed to $X in 2023 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2023, production of growth failed to regain momentum.
Exports of Phenols And Other Oils And Oil Products
Exports from Nigeria
In 2023, shipments abroad of phenols and other oils and oil products decreased by X% to X kg for the first time since 2020, thus ending a two-year rising trend. In general, exports, however, showed significant growth. The growth pace was the most rapid in 2014 when exports increased by X,329%. As a result, the exports reached the peak of X tons. From 2015 to 2023, the growth of the exports of remained at a lower figure.
In value terms, exports of phenols and other oils and oil products dropped dramatically to $X in 2023. Overall, exports, however, showed a resilient increase. The growth pace was the most rapid in 2016 with an increase of X,056% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.
Exports by Country
The Netherlands (X kg) was the main destination for exports of phenols and other oils and oil products from Nigeria, with a X% share of total exports. Moreover, exports of phenols and other oils and oil products to the Netherlands exceeded the volume sent to the second major destination, Canada (X kg), more than tenfold.
From 2012 to 2023, the average annual growth rate of volume to the Netherlands stood at X%.
In value terms, the largest markets for phenols and other oils and oil products exported from Nigeria were the Netherlands ($X) and Canada ($X).
Canada, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.
Export Prices by Country
The average export price for phenols and other oils and oil products stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the export price, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the Netherlands stood at $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced a decline.
Imports of Phenols And Other Oils And Oil Products
Imports into Nigeria
For the third consecutive year, Nigeria recorded decline in supplies from abroad of phenols and other oils and oil products, which decreased by X% to X tons in 2023. Overall, imports recorded a sharp curtailment. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2023, the growth of imports of failed to regain momentum.
In value terms, imports of phenols and other oils and oil products contracted dramatically to $X in 2023. In general, imports saw a precipitous curtailment. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2023, the growth of imports of failed to regain momentum.
Imports by Country
In 2023, the United States (X tons) constituted the largest supplier of phenols and other oils and oil products to Nigeria, with a X% share of total imports. Moreover, imports of phenols and other oils and oil products from the United States exceeded the figures recorded by the second-largest supplier, India (X tons), twofold.
From 2012 to 2023, the average annual growth rate of volume from the United States amounted to X%.
In value terms, the United States ($X) and India ($X) constituted the largest phenols and other oils and oil products suppliers to Nigeria.
Among the main suppliers, the United States, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review.
Import Prices by Country
In 2023, the average import price for phenols and other oils and oil products amounted to $X per ton, rising by X% against the previous year. In general, the import price continues to indicate a tangible increase. The pace of growth appeared the most rapid in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2023 and is likely to continue growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was India ($X per ton), while the price for the United States amounted to $X per ton.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for phenols and other oils and oil products 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 20147360 - Phenols
- Prodcom 20147390 - Other oils and oil products, n.e.c.
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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