Report Update Nov 1, 2024

Nigeria - Amino-Resins, Phenolic Resins and Polyurethanes (In Primary Forms) - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Amino-Resin Market 2024

Amino-Resin Market Size in Nigeria

In 2022, the Nigerien amino-resin market increased by X% to $X, rising for the sixth consecutive year after two years of decline. Over the period under review, consumption showed a significant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Amino-Resin Exports

Exports from Nigeria

In 2022, overseas shipments of amino-resins, phenolic resins and polyurethanes (in primary forms) decreased by X% to X kg, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a dramatic shrinkage. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, amino-resin exports dropped dramatically to $X in 2022. Overall, exports saw a precipitous decline. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana (X kg) and India (X kg) were the main destinations of amino-resin exports from Nigeria.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of X%).

In value terms, Ghana ($X) remains the key foreign market for amino-resins, phenolic resins and polyurethanes (in primary forms) exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Ghana stood at X%.

Export Prices by Country

In 2022, the average amino-resin export price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced modestly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to India amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (X%), while the prices for the other major destinations experienced a decline.

Amino-Resin Imports

Imports into Nigeria

In 2022, overseas purchases of amino-resins, phenolic resins and polyurethanes (in primary forms) increased by X% to X tons, rising for the sixth year in a row after two years of decline. Overall, imports saw significant growth. The growth pace was the most rapid in 2020 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, amino-resin imports surged to $X in 2022. Over the period under review, imports recorded a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Oman (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main suppliers of amino-resin imports to Nigeria, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest amino-resin suppliers to Nigeria were Oman ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined X% share of total imports.

In terms of the main suppliers, Saudi Arabia, 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.

Import Prices by Country

In 2022, the average amino-resin import price amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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 Italy ($X per ton), while the price for Saudi Arabia ($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 amino-resins, phenolic resins and polyurethanes (in primary forms) in the world?

The United States constituted the country with the largest volume of amino-resin consumption, comprising approx. 45% of total volume. Moreover, amino-resin consumption in the United States exceeded the figures recorded by the second-largest consumer, China, threefold. India ranked third in terms of total consumption with a 6.2% share.

What are the largest producers of amino-resins, phenolic resins and polyurethanes (in primary forms) in the world?

The United States remains the largest amino-resin producing country worldwide, accounting for 46% of total volume. Moreover, amino-resin production in the United States exceeded the figures recorded by the second-largest producer, China, threefold. India ranked third in terms of total production with a 6% share.

What are the leading suppliers of amino-resins, phenolic resins and polyurethanes (in primary forms) to Nigeria?

In value terms, the largest amino-resin suppliers to Nigeria were Oman, Saudi Arabia and Italy, with a combined 43% share of total imports. These countries were followed by India, China, Egypt, Greece, the United Arab Emirates, Germany, South Korea and Belgium, which together accounted for a further 44%.

What is the average export price for amino-resins, phenolic resins and polyurethanes (in primary forms) in Nigeria?

In 2021, the average amino-resin export price amounted to $280 per ton, waning by -85.1% against the previous year.

What is the average import price for amino-resins, phenolic resins and polyurethanes (in primary forms) in Nigeria?

The average amino-resin import price stood at $1,135 per ton in 2021, which is down by -11.5% against the previous year.

This report provides an in-depth analysis of the amino-resin 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 20165550 - Urea resins and thiourea resins, in primary forms
Prodcom 20165570 - Melamine resins, in primary forms
Prodcom 20165630 - Amino resins, in primary forms (excluding urea and thiourea resins, melamine resins)
Prodcom 20165650 - Phenolic resins, in primary forms
Prodcom 20165670 - Polyurethanes, in primary forms

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