Report Update Nov 1, 2024

Nigeria - Ethyl Acetate - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in Nigeria

In 2021, the Nigerien ethyl acetate market decreased by -27.4% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, recorded a strong increase. As a result, consumption attained the peak level of $X, and then shrank sharply in the following year.

Ethyl Acetate Exports

Exports from Nigeria

In 2021, approx. less than X kg of ethyl acetate were exported from Nigeria; approximately reflecting the previous year's figure. Over the period under review, exports saw a relatively flat trend pattern.

In value terms, ethyl acetate exports stood at less than $X in 2021. In general, exports saw a relatively flat trend pattern.

Ethyl Acetate Imports

Imports into Nigeria

After two years of growth, overseas purchases of ethyl acetate decreased by -36.1% to X tons in 2021. In general, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 117%. As a result, imports attained the peak of X tons, and then contracted rapidly in the following year.

In value terms, ethyl acetate imports shrank to $X in 2021. Overall, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of 135%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

India (X tons), South Africa (X tons) and the United Arab Emirates (X tons) were the main suppliers of ethyl acetate imports to Nigeria, with a combined 93% share of total imports. These countries were followed by Saudi Arabia, the UK and China, which together accounted for a further 6.1%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +70.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ethyl acetate suppliers to Nigeria were India ($X), South Africa ($X) and the United Arab Emirates ($X), with a combined 93% share of total imports.

South Africa, with a CAGR of +56.7%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ethyl acetate import price stood at $X per ton in 2021, jumping by 55% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ethyl acetate import price increased by +68.2% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.3%), 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 ethyl acetate in the world?

The country with the largest volume of ethyl acetate consumption was China, accounting for 24% of total volume. Moreover, ethyl acetate consumption in China exceeded the figures recorded by the second-largest consumer, Mexico, twofold. The United States ranked third in terms of total consumption with an 8.1% share.

What are the largest producers of ethyl acetate in the world?

The country with the largest volume of ethyl acetate production was China, comprising approx. 36% of total volume. Moreover, ethyl acetate production in China exceeded the figures recorded by the second-largest producer, Mexico, threefold. The third position in this ranking was occupied by India, with an 11% share.

What are the leading suppliers of ethyl acetate to Nigeria?

In value terms, India constituted the largest supplier of ethyl acetate to Nigeria, comprising 60% of total imports. The second position in the ranking was occupied by South Africa, with a 27% share of total imports.

What is the average import price for ethyl acetate in Nigeria?

In 2020, the average ethyl acetate import price amounted to $1,000 per ton, growing by 8.5% against the previous year.

This report provides an in-depth analysis of the ethyl acetate 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 20143215 - Ethyl acetate

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