Nigeria: Compound Plasticisers Market 2024

Compound Plasticisers Market Size in Nigeria

In 2022, the Nigerien compound plasticisers market increased by X% to $X, rising for the eighth year in a row after two years of decline. Overall, the total consumption indicated perceptible growth from 2012 to 2022: its value 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, consumption increased by X% against 2014 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Compound Plasticisers Production in Nigeria

In value terms, compound plasticisers production fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. Compound plasticisers production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Compound Plasticisers Exports

Exports from Nigeria

Compound plasticisers exports from Nigeria skyrocketed to X tons in 2022, rising by X% on the year before. In general, exports showed a buoyant increase. The growth pace was the most rapid in 2014 with an increase of X%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, compound plasticisers exports shrank dramatically to $X in 2022. Overall, exports, however, showed a sharp setback. The pace of growth was the most pronounced in 2014 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for compound plasticisers exports from Nigeria, with a approx. X% share of total exports.

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

In value terms, Germany ($X) emerged as the key foreign market for compound plasticisers for rubber or plastics exports from Nigeria.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to X%.

Export Prices by Country

The average compound plasticisers export price stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the export price recorded a precipitous contraction. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Germany.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to X% per year.

Compound Plasticisers Imports

Imports into Nigeria

Compound plasticisers imports into Nigeria surged to X tons in 2022, increasing by X% on the previous year. Over the period under review, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 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 lower figure.

In value terms, compound plasticisers imports surged to $X in 2022. In general, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest compound plasticisers supplier to Nigeria, accounting for a X% share of total imports. Moreover, compound plasticisers imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, China ($X) constituted the largest supplier of compound plasticisers for rubber or plastics to Nigeria, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the average compound plasticisers import price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, import price reached 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 Taiwan (Chinese) ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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