Phenols; Phenol-Alcohols Price in Nigeria - 2022
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Phenols; Phenol-Alcohols Price in Nigeria (CIF) - 2022
The average phenols; phenol-alcohols import price stood at $2,122 per ton in 2022, declining by -2% against the previous year. In general, the import price recorded a drastic downturn. The growth pace was the most rapid in 2019 an increase of 20%. The import price peaked at $4,777 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Senegal ($4,016 per ton), while the price for Italy ($692 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Phenols; Phenol-Alcohols Imports in Nigeria
In 2022, approx. 1.5K tons of phenols; phenol-alcoholses were imported into Nigeria; growing by 23% against 2021 figures. Over the period under review, imports saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 206%. As a result, imports reached the peak of 1.8K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, phenols; phenol-alcohols imports skyrocketed to $3.2M in 2022. In general, imports posted significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 128%. As a result, imports reached the peak of $3.7M. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Phenols; Phenol-Alcohols in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belgium | 89.6 | 64.4 | 159 | 552 | 83.3% |
| Czech Republic | 124 | 662 | 145 | 280 | 31.2% |
| Israel | 110 | 217 | 198 | 249 | 31.3% |
| South Africa | 81.8 | 416 | 215 | 229 | 40.9% |
| China | 54.9 | 312 | 253 | 179 | 48.3% |
| Senegal | 45.5 | 203 | 170 | 178 | 57.6% |
| India | 67.1 | 390 | 302 | 101 | 14.6% |
| Germany | 62.0 | 85.9 | 157 | 93.9 | 14.8% |
| United States | 55.0 | 62.0 | 25.5 | 91.4 | 18.4% |
| Russia | 27.1 | 46.7 | 65.6 | 69.0 | 36.6% |
| United Kingdom | 102 | 276 | 43.2 | 62.8 | -14.9% |
| Italy | 30.3 | 50.3 | 38.5 | 40.6 | 10.2% |
| Thailand | N/A | 131 | N/A | N/A | 0% |
| Others | 780 | 793 | 849 | 1,040 | 10.1% |
| Total | 1,630 | 3,709 | 2,621 | 3,165 | 24.8% |
Top Suppliers of Phenols; Phenol-Alcohols to Nigeria in 2022:
- Belgium (378.3 tons)
- Israel (235.0 tons)
- Czech Republic (131.2 tons)
- South Africa (88.4 tons)
- United States (84.3 tons)
- China (75.3 tons)
- India (64.5 tons)
- Italy (58.6 tons)
- Russia (57.2 tons)
- United Kingdom (46.0 tons)
- Senegal (44.4 tons)
- Germany (33.2 tons)
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