Report Update Nov 1, 2024

Nigeria - Acrylic Polymers (In Primary Forms) - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Acrylic Polymer Market 2024

Acrylic Polymer Market Size in Nigeria

The Nigerien acrylic polymer market skyrocketed to $X in 2022, surging by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a strong increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Acrylic Polymer Exports

Exports from Nigeria

In 2022, the amount of acrylic polymers (in primary forms) exported from Nigeria dropped markedly to X tons, declining by X% compared with the year before. In general, exports, however, enjoyed a significant increase. The exports peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, acrylic polymer exports contracted remarkably to $X in 2022. Over the period under review, exports showed a noticeable decrease. The exports peaked at $X in 2021, and then declined sharply in the following year.

Exports by Country

Greece (X tons) was the main destination for acrylic polymer exports from Nigeria, accounting for a X% share of total exports. Moreover, acrylic polymer exports to Greece exceeded the volume sent to the second major destination, India (X tons), threefold.

From 2018 to 2022, the average annual growth rate of volume to Greece was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Benin (X% per year).

In value terms, the largest markets for acrylic polymer exported from Nigeria were Greece ($X), India ($X) and Benin ($X), together accounting for X% of total exports.

Among the main countries of destination, Benin, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average acrylic polymer export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a dramatic descent. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2018 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (X%).

Acrylic Polymer Imports

Imports into Nigeria

In 2022, acrylic polymer imports into Nigeria surged to X tons, jumping by X% compared with the previous year's figure. Overall, imports saw a prominent expansion. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, acrylic polymer imports soared to $X in 2022. Over the period under review, imports showed a resilient expansion. The growth pace was the most rapid in 2020 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

South Korea (X tons), Japan (X tons) and Indonesia (X tons) were the main suppliers of acrylic polymer imports to Nigeria, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and Indonesia ($X) constituted the largest acrylic polymer suppliers to Nigeria, with a combined X% share of total imports.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average acrylic polymer import price amounted to $X per ton, remaining constant against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, acrylic polymer import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for acrylic polymers (in primary forms) in the world?

The country with the largest volume of acrylic polymer consumption was China, comprising approx. 26% of total volume. Moreover, acrylic polymer consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by India, with a 9.6% share.

What are the largest producers of acrylic polymers (in primary forms) in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 45% share of global production. These countries were followed by Japan, Germany, South Korea, Russia, Indonesia, Brazil, France, Belgium, Mexico and Taiwan Chinese), which together accounted for a further 40%.

What are the leading suppliers of acrylic polymers (in primary forms) to Nigeria?

In value terms, Saudi Arabia, Japan and Indonesia constituted the largest acrylic polymer suppliers to Nigeria, with a combined 44% share of total imports.

What are the leading importers of acrylic polymers (in primary forms) from Nigeria?

In value terms, Cambodia and Vietnam were the largest markets for acrylic polymer exported from Nigeria worldwide.

What is the average export price for acrylic polymers (in primary forms) in Nigeria?

The average acrylic polymer export price stood at $679 per ton in 2021, reducing by -54.1% against the previous year.

What is the average import price for acrylic polymers (in primary forms) in Nigeria?

In 2021, the average acrylic polymer import price amounted to $1,400 per ton, with an increase of 46% against the previous year.

This report provides an in-depth analysis of the acrylic polymer 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.

Product coverage:

Prodcom 20165350 - Polymethyl methacrylate, in primary forms
Prodcom 20165390 - Acrylic polymers, in primary forms (excluding polymethyl methacrylate)

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.

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