Report Update Nov 1, 2024

Nigeria - Polyethylene or Polypropylene Binder or Baler (Agricultural) Twines - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Polyethylene Binder Market 2024

Polyethylene Binder Market Size in Nigeria

The Nigerien polyethylene binder market reduced to $X in 2022, dropping by -4.7% against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Polyethylene Binder Production in Nigeria

In value terms, polyethylene binder production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 29% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Polyethylene Binder Exports

Exports from Nigeria

In 2021, approx. X tons of polyethylene or polypropylene binder or baler (agricultural) twines were exported from Nigeria; flattening at 2020 figures. Overall, exports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2014 when exports increased by 87%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, polyethylene binder exports totaled $X in 2021. In general, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 44%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Benin (X tons) was the main destination for polyethylene binder exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Benin was relatively modest.

From 2012 to 2021, the average annual growth rate of value to Benin was relatively modest.

Export Prices by Country

In 2021, the average polyethylene binder export price amounted to $X per ton, remaining stable against the previous year. Overall, the export price recorded a perceptible decrease. The pace of growth was the most pronounced in 2013 an increase of 25%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

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 Ghana amounted to +45.3% per year.

Polyethylene Binder Imports

Imports into Nigeria

Polyethylene binder imports into Nigeria skyrocketed to X tons in 2022, jumping by 44% on the year before. Overall, imports, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 1,073% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, polyethylene binder imports shrank slightly to $X in 2022. Over the period under review, imports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 755%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main polyethylene binder supplier to Nigeria, with a 90% share of total imports. Moreover, polyethylene binder imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold. The third position in this ranking was taken by India (X tons), with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+9.6% per year) and India (-2.8% per year).

In value terms, China ($X) constituted the largest supplier of polyethylene or polypropylene binder or baler (agricultural) twines to Nigeria, comprising 64% of total imports. The second position in the ranking was held by Belgium ($X), with a 15% share of total imports. It was followed by India, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+7.4% per year) and India (-2.8% per year).

Import Prices by Country

In 2022, the average polyethylene binder import price amounted to $X per ton, waning by -33.4% against the previous year. Over the period under review, the import price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when the average import price increased by 20% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, 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 Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for polyethylene or polypropylene binder or baler (agricultural) twines in the world?

China remains the largest polyethylene binder consuming country worldwide, accounting for 15% of total volume. Moreover, polyethylene binder consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by India, with a 6.2% share.

What are the largest producers of polyethylene or polypropylene binder or baler (agricultural) twines in the world?

The countries with the highest volumes of in 2021 were China, Portugal and India, together accounting for 33% of global production. Hungary, Indonesia, Japan, Poland, Brazil, Russia, the United States, Nigeria, Vietnam and Bangladesh lagged somewhat behind, together accounting for a further 25%.

What are the leading suppliers of polyethylene or polypropylene binder or baler (agricultural) twines to Nigeria?

In value terms, Belgium, China and India constituted the largest polyethylene binder suppliers to Nigeria, with a combined 74% share of total imports. These countries were followed by Taiwan Chinese), Hong Kong SAR, the United Arab Emirates and Vietnam, which together accounted for a further 23%.

What is the average export price for polyethylene or polypropylene binder or baler (agricultural) twines in Nigeria?

The average polyethylene binder export price stood at $1,991 per ton in 2021, almost unchanged from the previous year.

What is the average import price for polyethylene or polypropylene binder or baler (agricultural) twines in Nigeria?

The average polyethylene binder import price stood at $1,894 per ton in 2021, rising by 20% against the previous year.

This report provides an in-depth analysis of the polyethylene binder 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 13941155 - Polyethylene or polypropylene binder or baler (agricultural) t wines

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