Report Update Nov 1, 2024

Nigeria - Polishes for Coachwork - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Polishes For Coachwork Market 2024

Polishes For Coachwork Market Size in Nigeria

The Nigerien polishes for coachwork market rose to $X in 2022, growing by 2.3% 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). In general, consumption, however, saw buoyant growth. Polishes for coachwork consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Polishes For Coachwork Exports

Exports from Nigeria

In 2022, polishes for coachwork exports from Nigeria surged to X kg, rising by 40% compared with the year before. Overall, exports saw a strong expansion. The pace of growth was the most pronounced in 2014 when exports increased by 5,263%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, polishes for coachwork exports soared to $X in 2022. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 5,264% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

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

From 2012 to 2022, the average annual rate of growth in terms of volume to Benin stood at +15.1%.

In value terms, Benin ($X) also remains the key foreign market for polishes for coachwork exports from Nigeria.

From 2012 to 2022, the average annual growth rate of value to Benin amounted to +26.3%.

Export Prices by Country

The average polishes for coachwork export price stood at $X per ton in 2022, with an increase of 2.8% against the previous year. Over the period under review, the export price saw a prominent increase. The growth pace was the most rapid in 2019 when the average export price increased by 484%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Benin amounted to +9.7% per year.

Polishes For Coachwork Imports

Imports into Nigeria

In 2022, supplies from abroad of polishes for coachwork decreased by -3.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by 1,025% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, polishes for coachwork imports expanded slightly to $X in 2022. Overall, imports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 743%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of polishes for coachwork to Nigeria, with a 64% share of total imports. Moreover, polishes for coachwork imports from Italy exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+53.1% per year) and China (-0.5% per year).

In value terms, the largest polishes for coachwork suppliers to Nigeria were Italy ($X), the United States ($X) and China ($X), together comprising 54% of total imports.

Among the main suppliers, the United States, with a CAGR of +50.0%, 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 polishes for coachwork import price stood at $X per ton in 2022, with an increase of 8.5% against the previous year. In general, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polishes for coachwork import price decreased by -4.5% against 2020 indices. The growth pace was the most rapid in 2013 when the average import price increased by 27%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Brazil ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+11.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for polishes for coachwork in the world?

The country with the largest volume of polishes for coachwork consumption was China, comprising approx. 30% of total volume. Moreover, polishes for coachwork consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. The third position in this ranking was occupied by Japan, with a 6.1% share.

What are the largest producers of polishes for coachwork in the world?

China remains the largest polishes for coachwork producing country worldwide, comprising approx. 33% of total volume. Moreover, polishes for coachwork production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was occupied by Japan, with a 6.3% share.

What are the leading suppliers of polishes for coachwork to Nigeria?

In value terms, the largest polishes for coachwork suppliers to Nigeria were Italy, the United States and Egypt, together comprising 79% of total imports.

What are the leading importers of polishes for coachwork from Nigeria?

In value terms, Benin remains the key foreign market for polishes for coachwork exports from Nigeria.

What is the average export price for polishes for coachwork in Nigeria?

In 2021, the average polishes for coachwork export price amounted to $1,689 per ton, shrinking by -59.4% against the previous year.

What is the average import price for polishes for coachwork in Nigeria?

The average polishes for coachwork import price stood at $707 per ton in 2021, leveling off at the previous year.

This report provides an in-depth analysis of the polishes for coachwork 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 20414370 - Polishes and similar preparations, for coachwork (excluding artificial and prepared waxes, metal polishes)

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