Nigeria: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in Nigeria

The Nigerien plastic household articles market skyrocketed to $X in 2022, picking up by 107% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a significant increase. Plastic household articles consumption peaked in 2022 and is expected to retain growth in the near future.

Plastic Household Articles Exports

Exports from Nigeria

In 2022, overseas shipments of household articles and toilet articles of plastics were finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Over the period under review, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 180% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic household articles exports expanded to $X in 2022. In general, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2015 when exports increased by 191% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Mali (X tons) was the main destination for plastic household articles exports from Nigeria, accounting for a 55% share of total exports. Moreover, plastic household articles exports to Mali exceeded the volume sent to the second major destination, Cameroon (X tons), threefold. The third position in this ranking was taken by Benin (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Mali stood at -6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cameroon (-1.1% per year) and Benin (+32.6% per year).

In value terms, the largest markets for plastic household articles exported from Nigeria were Mali ($X), Cameroon ($X) and Benin ($X), with a combined 74% share of total exports.

Benin, with a CAGR of +36.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plastic household articles export price stood at $X per ton in 2022, which is down by -7.4% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 58% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Togo ($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 Cote d'Ivoire (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Household Articles Imports

Imports into Nigeria

In 2022, the amount of household articles and toilet articles of plastics imported into Nigeria surged to X tons, with an increase of 95% against the year before. In general, imports recorded a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 210%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, plastic household articles imports skyrocketed to $X in 2022. Overall, imports showed a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), the United States (X tons) and the UK (X tons) were the main suppliers of plastic household articles imports to Nigeria, together accounting for 95% of total imports. Germany lagged somewhat behind, comprising a further 1.9%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +58.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of household articles and toilet articles of plastics to Nigeria, comprising 64% of total imports. The second position in the ranking was taken by the United States ($X), with a 22% share of total imports. It was followed by the UK, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+52.5% per year) and the UK (+30.8% per year).

Import Prices by Country

The average plastic household articles import price stood at $X per ton in 2022, jumping by 31% against the previous year. Overall, the import price, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2014 when the average import price increased by 61% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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 Germany ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :