Report Update May 1, 2024

Nigeria - Tin Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Market for Tin Ores And Concentrates 2024

Market Size for Tin Ores And Concentrates in Nigeria

The Nigerien tin ores and concentrates market shrank rapidly to $X in 2022, reducing by -28.7% against the previous year. In general, consumption showed a noticeable decrease. Tin ores and concentrates consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Tin Ores And Concentrates in Nigeria

In value terms, tin ores and concentrates production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 11% against the previous year. Tin ores and concentrates production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Tin Ores And Concentrates

Exports from Nigeria

In 2022, approx. X tons of tin ores and concentrateses were exported from Nigeria; increasing by 275% compared with the previous year. Overall, exports recorded significant growth. The growth pace was the most rapid in 2018 with an increase of 2,693% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, tin ores and concentrates exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 2,253%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Malaysia (X tons) was the main destination for tin ores and concentrates exports from Nigeria, accounting for a 82% share of total exports. Moreover, tin ores and concentrates exports to Malaysia exceeded the volume sent to the second major destination, Myanmar (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Malaysia totaled +23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+3,975.1% per year) and Thailand (+16.4% per year).

In value terms, Malaysia ($X) remains the key foreign market for tin ores and concentrateses exports from Nigeria, comprising 74% of total exports. The second position in the ranking was taken by Myanmar ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia amounted to +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+4,438.1% per year) and Thailand (+19.4% per year).

Export Prices by Country

In 2022, the average tin ores and concentrates export price amounted to $X per ton, with a decrease of -9.9% against the previous year. In general, the export price saw a drastic downturn. The growth pace was the most rapid in 2021 when the average export price increased by 35% against the previous year. Over the period under review, the average export prices attained the peak figure at $X 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 Myanmar ($X per ton), while the average price for exports to Thailand ($X 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 Myanmar (+11.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tin Ores And Concentrates

Imports into Nigeria

In 2018, overseas purchases of tin ores and concentrateses decreased by -46.5% to X tons for the first time since 2015, thus ending a two-year declining trend. Overall, imports, however, saw a buoyant expansion. Imports peaked at X tons in 2015; however, from 2016 to 2018, imports failed to regain momentum.

In value terms, tin ores and concentrates imports fell dramatically to $X in 2018. In general, imports, however, enjoyed significant growth. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2018, imports failed to regain momentum.

Imports by Country

In 2018, India (X tons) was the main tin ores and concentrates supplier to Nigeria, accounting for a approx. 100% share of total imports.

From 2012 to 2018, the average annual growth rate of volume from India was relatively modest.

In value terms, India ($X) constituted the largest supplier of tin ores and concentrateses to Nigeria.

From 2012 to 2018, the average annual growth rate of value from India was relatively modest.

Import Prices by Country

The average tin ores and concentrates import price stood at $X per ton in 2018, picking up by 49% against the previous year. Over the period under review, the import price recorded a significant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2018, the rate of growth in terms of prices for China amounted to +22.2% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tin ores and concentrates in the world?

China remains the largest tin ores and concentrates consuming country worldwide, accounting for 63% of total volume. Moreover, tin ores and concentrates consumption in China exceeded the figures recorded by the second-largest consumer, Sierra Leone, eightfold. The United States ranked third in terms of total consumption with a 6% share.

What are the largest producers of tin ores and concentrates in the world?

The countries with the highest volumes of production in 2022 were Sierra Leone, the United States and Australia, with a combined 42% share of global production. These countries were followed by Democratic Republic of the Congo, Congo, Brazil, Rwanda, Bolivia, Indonesia, Lao People's Democratic Republic, Kenya and Tanzania, which together accounted for a further 48%.

What are the leading suppliers of tin ores and concentrates to Nigeria?

In value terms, India constituted the largest supplier of tin ores and concentrateses to Nigeria.

What are the leading importers of tin ores and concentrates from Nigeria?

In value terms, Malaysia remains the key foreign market for tin ores and concentrateses exports from Nigeria, comprising 74% of total exports. The second position in the ranking was held by Myanmar, with a 24% share of total exports.

What is the average export price for tin ores and concentrates in Nigeria?

The average tin ores and concentrates export price stood at $8,430 per ton in 2022, waning by -9.9% against the previous year.

What is the average import price for tin ores and concentrates in Nigeria?

In 2018, the average tin ores and concentrates import price amounted to $17,273 per ton, increasing by 49% against the previous year.

This report provides an in-depth analysis of the market for tin ores and concentrates 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 07291530 -

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
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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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023