Nigeria's Caustic Soda Market Report 2024 - Prices, Size, Forecast, and Companies

Oct 21, 2024

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In 2023, the Nigerien caustic soda market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded a pronounced increase. As a result, consumption attained the peak level of $X, and then shrank rapidly in the following year.

In 2023, overseas shipments of caustic soda decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports saw a abrupt slump. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, the exports reached the peak of X tons. From 2015 to 2023, the growth of the exports remained at a lower figure.

In value terms, caustic soda exports contracted significantly to $X in 2023. In general, exports saw a deep contraction. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Benin (X tons) was the main destination for caustic soda exports from Nigeria, accounting for a approx. X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of volume to Benin stood at X%.

In value terms, Benin ($X) emerged as the key foreign market for caustic soda exports from Nigeria.

From 2012 to 2023, the average annual growth rate of value to Benin stood at X%.

The average caustic soda export price stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the export price recorded a drastic downturn. The pace of growth was the most pronounced in 2022 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Benin.

From 2012 to 2023, the rate of growth in terms of prices for Benin amounted to X% per year.

In 2023, approx. X tons of caustic soda were imported into Nigeria; falling by X% against 2022. Overall, total imports indicated a moderate expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, caustic soda imports skyrocketed to $X in 2023. In general, imports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked in 2023 and are likely to continue growth in the near future.

China (X tons), India (X tons) and Qatar (X tons) were the main suppliers of caustic soda imports to Nigeria, together accounting for X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Qatar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Qatar ($X) constituted the largest caustic soda suppliers to Nigeria, together accounting for X% of total imports.

Among the main suppliers, Qatar, with a CAGR of X%, recorded 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.

The average caustic soda import price stood at $X per ton in 2023, rising by X% against the previous year. In general, import price indicated pronounced growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, caustic soda import price increased by X% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Saudi Arabia ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Qatar (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 caustic soda 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.

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:

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.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles

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