Nigeria: Market for Plastic Plates, Sheets, Film, Foil And Strip 2024

Market Size for Plastic Plates, Sheets, Film, Foil And Strip in Nigeria

The Nigerien market for plastic plates, sheets, film, foil and strip reduced sharply to $X in 2021, which is down by -64.1% 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). Over the period under review, consumption recorded a pronounced contraction. As a result, consumption reached the peak level of $X, and then reduced notably in the following year.

Exports of Plastic Plates, Sheets, Film, Foil And Strip

Exports from Nigeria

After two years of decline, overseas shipments of plastic plates, sheets, film, foil and strip increased by 3,912% to X tons in 2021. Overall, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of plastic plates, sheets, film, foil and strip skyrocketed to $X in 2021. In general, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) was the main destination for exports of plastic plates, sheets, film, foil and strip from Nigeria, with a 70% share of total exports. Moreover, exports of plastic plates, sheets, film, foil and strip to India exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume to India totaled +111.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+380.1% per year) and the United States (+64.8% per year).

In value terms, the United Arab Emirates ($X), the United States ($X) and Ghana ($X) were the largest markets for plastic plate, sheet, film, foil and strip exported from Nigeria worldwide, with a combined 75% share of total exports.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +330.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for plastic plates, sheets, film, foil and strip amounted to $X per ton, waning by -83.1% against the previous year. In general, the export price continues to indicate a sharp downturn. The growth pace was the most rapid in 2020 when the average export price increased by 22%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+1.7%), while the prices for the other major destinations experienced a decline.

Imports of Plastic Plates, Sheets, Film, Foil And Strip

Imports into Nigeria

In 2021, approx. X tons of plastic plates, sheets, film, foil and strip were imported into Nigeria; waning by -45.4% on 2020. In general, imports, however, recorded a modest increase. The pace of growth appeared the most rapid in 2020 when imports increased by 149% against the previous year. As a result, imports attained the peak of X tons, and then shrank dramatically in the following year.

In value terms, imports of plastic plates, sheets, film, foil and strip dropped significantly to $X in 2021. Overall, imports, however, showed a notable increase. The pace of growth appeared the most rapid in 2020 with an increase of 149%. As a result, imports attained the peak of $X, and then fell remarkably in the following year.

Imports by Country

India (X tons), China (X tons) and Germany (X tons) were the main suppliers of imports of plastic plates, sheets, film, foil and strip to Nigeria, together comprising 69% of total imports. The United Arab Emirates, Egypt, Saudi Arabia, Bangladesh, Thailand, Indonesia, South Africa and Australia lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bangladesh (with a CAGR of +399.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Germany ($X) and China ($X) were the largest plastic plate, sheet, film, foil and strip suppliers to Nigeria, together comprising 61% of total imports. Egypt, the United Arab Emirates, Saudi Arabia, South Africa, Indonesia, Thailand, Bangladesh and Australia lagged somewhat behind, together accounting for a further 17%.

Bangladesh, with a CAGR of +325.2%, saw the highest rates of growth with regard to the value of imports, in terms of 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 import price for plastic plates, sheets, film, foil and strip stood at $X per ton in 2021, with an increase of 17% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 22% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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