Nigeria: Market for High-Tenacity Filament Yarn Of Nylon Or Other Polyamides 2024

Market Size for High-Tenacity Filament Yarn Of Nylon Or Other Polyamides in Nigeria

The Nigerien high-tenacity filament nylon yarn market rose sharply to $X in 2022, surging by 6.3% against the previous year. Over the period under review, consumption posted strong growth. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of High-Tenacity Filament Yarn Of Nylon Or Other Polyamides in Nigeria

In value terms, high-tenacity filament nylon yarn production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production recorded prominent growth. The growth pace was the most rapid in 2014 with an increase of 119%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of High-Tenacity Filament Yarn Of Nylon Or Other Polyamides

Exports from Nigeria

High-tenacity filament nylon yarn exports from Nigeria skyrocketed to X kg in 2022, increasing by 59% against the year before. Overall, exports, however, showed a dramatic shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 204%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, high-tenacity filament nylon yarn exports surged to $X in 2022. Over the period under review, exports, however, faced a deep slump. The pace of growth appeared the most rapid in 2020 with an increase of 331% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sao Tome and Principe (X kg), Niger (X kg) and South Africa (X kg) were the main destinations of high-tenacity filament nylon yarn exports from Nigeria, together accounting for 97% of total exports. Benin lagged somewhat behind, accounting for a further 3.5%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Benin (with a CAGR of +150.0%), while the other leaders experienced more modest paces of growth.

In value terms, Sao Tome and Principe ($X) remains the key foreign market for high-tenacity filament yarn of nylon or other polyamides exports from Nigeria, comprising 88% of total exports. The second position in the ranking was taken by South Africa ($X), with a 7.2% share of total exports. It was followed by Niger, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sao Tome and Principe totaled -20.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (0.0% per year) and Niger (0.0% per year).

Export Prices by Country

The average high-tenacity filament nylon yarn export price stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the export price, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 241%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then fell slightly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Sao Tome and Principe ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sao Tome and Principe (+18.4%), while the prices for the other major destinations experienced a decline.

Imports of High-Tenacity Filament Yarn Of Nylon Or Other Polyamides

Imports into Nigeria

In 2022, after three years of decline, there was significant growth in purchases abroad of high-tenacity filament yarn of nylon or other polyamides, when their volume increased by 34% to X tons. Overall, imports, however, saw a precipitous curtailment. The growth pace was the most rapid in 2018 with an increase of 138%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, high-tenacity filament nylon yarn imports stood at $X in 2022. Over the period under review, imports, however, showed a precipitous curtailment. The growth pace was the most rapid in 2018 when imports increased by 98%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest high-tenacity filament nylon yarn supplier to Nigeria, with a 80% share of total imports. Moreover, high-tenacity filament nylon yarn imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, China (X tons), eightfold. The third position in this ranking was taken by Belgium (X kg), with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia stood at -19.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.8% per year) and Belgium (-35.0% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of high-tenacity filament yarn of nylon or other polyamides to Nigeria, comprising 62% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Saudi Arabia stood at -21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-9.4% per year) and the United States (+4.8% per year).

Import Prices by Country

In 2022, the average high-tenacity filament nylon yarn import price amounted to $X per ton, which is down by -14.3% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 39%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (+33.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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