Report Update Nov 1, 2024

Nigeria - Expansible Polystyrene in Primary Forms - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in Nigeria

In 2021, the Nigerien expansible polystyrene market increased by 27% to $X, rising for the second consecutive year after three years of decline. In general, consumption enjoyed a strong expansion. Expansible polystyrene consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Expansible Polystyrene Exports

Exports from Nigeria

In 2021, approx. X tons of expansible polystyrene in primary forms were exported from Nigeria; leveling off at 2020 figures. In general, exports recorded significant growth. The smallest decline of -49.7% was in 2014. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, expansible polystyrene exports amounted to $X in 2021. Over the period under review, exports recorded a resilient increase. The smallest decline of -34.3% was in 2014. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Ghana (X tons) was the main destination for expansible polystyrene exports from Nigeria, with a approx. 100% share of total exports.

From 2013 to 2021, the average annual growth rate of volume to Ghana was relatively modest.

From 2013 to 2021, the average annual rate of growth in terms of value to Ghana was relatively modest.

Export Prices by Country

The average expansible polystyrene export price stood at $X per ton in 2021, approximately reflecting the previous year. In general, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2014 an increase of 31% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

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

From 2013 to 2021, the rate of growth in terms of prices for Ghana amounted to 0.0% per year.

Expansible Polystyrene Imports

Imports into Nigeria

In 2021, purchases abroad of expansible polystyrene in primary forms increased by 11% to X tons, rising for the third consecutive year after two years of decline. In general, imports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2013 when imports increased by 368% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, expansible polystyrene imports soared to $X in 2021. Overall, imports showed prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 543% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and India (X tons) were the main suppliers of expansible polystyrene imports to Nigeria, together comprising 70% of total imports. These countries were followed by Thailand, Saudi Arabia, Belgium, Hong Kong SAR and South Korea, which together accounted for a further 25%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +72.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and India ($X) constituted the largest expansible polystyrene suppliers to Nigeria, with a combined 72% share of total imports. These countries were followed by Thailand, Saudi Arabia, Hong Kong SAR, Belgium and South Korea, which together accounted for a further 22%.

Among the main suppliers, Belgium, with a CAGR of +76.3%, recorded the highest growth rate of 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

The average expansible polystyrene import price stood at $X per ton in 2021, jumping by 22% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 37% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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 India ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.6%), 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 expansible polystyrene in primary forms in the world?

The countries with the highest volumes of expansible polystyrene consumption in 2021 were China, the United States and India, together accounting for 42% of global consumption. Japan, Russia, Pakistan, Indonesia, Italy, Germany, Mexico, Poland, Turkey and Taiwan Chinese) lagged somewhat behind, together comprising a further 32%.

What are the largest producers of expansible polystyrene in primary forms in the world?

The countries with the highest volumes of expansible polystyrene production in 2021 were China, the United States and India, together accounting for 46% of global production. These countries were followed by Japan, Russia, Pakistan, Indonesia, Turkey, Germany, Mexico, the Netherlands, Taiwan Chinese) and Iran, which together accounted for a further 33%.

What are the leading suppliers of expansible polystyrene in primary forms to Nigeria?

In value terms, the largest expansible polystyrene suppliers to Nigeria were Taiwan Chinese), China and Thailand, with a combined 60% share of total imports. These countries were followed by Saudi Arabia, South Korea, the United States and India, which together accounted for a further 18%.

What is the average import price for expansible polystyrene in primary forms in Nigeria?

The average expansible polystyrene import price stood at $1,562 per ton in 2021, surging by 22% against the previous year.

This report provides an in-depth analysis of the expansible polystyrene 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 20162035 - Expansible polystyrene, 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