Report Update Nov 1, 2024

Nigeria - Natural and Modified Natural Polymers in Primary Forms - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Natural Polymers Market 2024

Natural Polymers Market Size in Nigeria

In 2021, the Nigerien natural polymers market decreased by -55.8% to $X, falling for the second year in a row after two years of growth. Overall, consumption saw a deep reduction. Natural polymers consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Natural Polymers Exports

Exports from Nigeria

In 2021, after two years of decline, there was significant decline in overseas shipments of natural and modified natural polymers in primary forms, when their volume decreased by -74.1% to X kg. Overall, exports continue to indicate a sharp decline. The growth pace was the most rapid in 2016 with an increase of 74% against the previous year. The exports peaked at X kg in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, natural polymers exports plummeted to $X in 2021. Over the period under review, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of 273% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Benin (X kg) was the main destination for natural polymers exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Benin amounted to +24.0%.

In value terms, Benin ($X) emerged as the key foreign market for natural and modified natural polymers in primary forms exports from Nigeria.

From 2012 to 2021, the average annual rate of growth in terms of value to Benin totaled +91.3%.

Export Prices by Country

The average natural polymers export price stood at $X per ton in 2021, increasing by 138% against the previous year. In general, the export price posted a buoyant expansion. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for Cameroon amounted to +61.9% per year.

Natural Polymers Imports

Imports into Nigeria

In 2021, overseas purchases of natural and modified natural polymers in primary forms decreased by -59.2% to X tons, falling for the second consecutive year after two years of growth. Overall, imports showed a abrupt decline. The pace of growth was the most pronounced in 2019 when imports increased by 142%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, natural polymers imports declined notably to $X in 2021. In general, imports faced a deep contraction. The growth pace was the most rapid in 2019 with an increase of 33%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Barbados (X tons), China (X tons) and Hong Kong SAR (X tons) were the main suppliers of natural polymers imports to Nigeria, together accounting for 81% of total imports. Canada, the United States, the United Arab Emirates, Denmark, the UK and Germany lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +18.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Hong Kong SAR ($X), Barbados ($X) and China ($X) appeared to be the largest natural polymers suppliers to Nigeria, with a combined 81% share of total imports. Denmark, Canada, the United States, the United Arab Emirates, the UK and Germany lagged somewhat behind, together accounting for a further 10%.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of -2.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average natural polymers import price amounted to $X per ton, rising by 24% against the previous year. Over the period under review, the import price, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2014 an increase of 42% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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 Hong Kong SAR ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for natural and modified natural polymers in primary forms in the world?

The countries with the highest volumes of in 2021 were China, Italy and the United States, with a combined 42% share of global consumption.

What are the largest producers of natural and modified natural polymers in primary forms in the world?

China remains the largest natural polymers producing country worldwide, accounting for 32% of total volume. Moreover, natural polymers production in China exceeded the figures recorded by the second-largest producer, Italy, twofold. The United States ranked third in terms of total production with an 11% share.

What are the leading suppliers of natural and modified natural polymers in primary forms to Nigeria?

In value terms, the largest natural polymers suppliers to Nigeria were Hong Kong SAR, Barbados and China, with a combined 84% share of total imports.

What is the average export price for natural and modified natural polymers in primary forms in Nigeria?

In 2021, the average natural polymers export price amounted to $21,667 per ton, approximately mirroring the previous year.

What is the average import price for natural and modified natural polymers in primary forms in Nigeria?

The average natural polymers import price stood at $5,574 per ton in 2021, growing by 59% against the previous year.

This report provides an in-depth analysis of the natural polymers 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 20165960 - Natural and modified natural polymers, in primary forms (including alginic acid, hardened proteins, chemical derivatives of natural rubber)

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