Nigeria's Bentonite Market Slumps in 2024 as Exports and Imports Drop
Nigeria's bentonite market experienced a downturn in 2024, with exports and imports both declining significantly. South Africa remained the primary destination for Nigerian bentonite, while India was the leading supplier.
In 2024, bentonite exports from Nigeria plummeted by X% to X kg, marking a substantial decrease from the peak of X tons in 2018. The value of these exports also dropped remarkably to $X. Meanwhile, imports into Nigeria decreased by X% to X tons, with a value reduction to $X. This followed a relatively flat consumption trend from 2020 to 2024.
South Africa was the main destination for Nigerian bentonite exports, accounting for approximately X% of total exports. India, on the other hand, was the largest supplier to Nigeria, with a X% share of total imports. However, information on the main supplier in 2024 is currently unavailable.
The Nigerian bentonite market witnessed a significant downturn in 2024, with both exports and imports decreasing substantially. Despite this, South Africa and India maintained their positions as the primary destination and supplier, respectively. Further analysis is needed to understand the reasons behind the 2024 decline and the identity of the main supplier in that year.
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