Report Update Nov 1, 2024

Nigeria - Polymethyl Methacrylate in Primary Forms - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Polymethyl Methacrylate Market 2024

Polymethyl Methacrylate Exports

Exports from Nigeria

After three years of decline, shipments abroad of polymethyl methacrylate in primary forms decreased by 0% to X kg in 2022. Overall, exports continue to indicate a dramatic shrinkage. The smallest decline of -59% was in 2019. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, polymethyl methacrylate exports totaled $X in 2022. In general, exports showed a abrupt decline. The smallest decline of -50.7% was in 2019. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X kg) was the main destination for polymethyl methacrylate exports from Nigeria, with a approx. 100% share of total exports.

From 2013 to 2022, the average annual growth rate of volume to Canada totaled +128.9%.

From 2013 to 2022, the average annual growth rate of value to Canada amounted to +103.8%.

Export Prices by Country

The average polymethyl methacrylate export price stood at $X per ton in 2022, approximately reflecting the previous year. Overall, the export price saw significant growth. The most prominent rate of growth was recorded in 2019 an increase of 20% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

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

From 2013 to 2022, the rate of growth in terms of prices for Canada amounted to -11.0% per year.

Polymethyl Methacrylate Imports

Imports into Nigeria

After three years of growth, purchases abroad of polymethyl methacrylate in primary forms decreased by -8.8% to X tons in 2022. Over the period under review, imports, however, posted significant growth. The growth pace was the most rapid in 2014 when imports increased by 575% against the previous year. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, polymethyl methacrylate imports surged to $X in 2022. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 732%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest supplier of polymethyl methacrylate to Nigeria, with a 81% share of total imports. Moreover, polymethyl methacrylate imports from Indonesia exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The third position in this ranking was taken by Turkey (X tons), with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia stood at +66.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+22.3% per year) and Turkey (+162.0% per year).

In value terms, Indonesia ($X) constituted the largest supplier of polymethyl methacrylate in primary forms to Nigeria, comprising 79% of total imports. The second position in the ranking was taken by India ($X), with a 5.7% share of total imports. It was followed by Turkey, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia totaled +72.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+22.4% per year) and Turkey (+131.3% per year).

Import Prices by Country

The average polymethyl methacrylate import price stood at $X per ton in 2022, picking up by 74% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.7%), 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 polymethyl methacrylate in primary forms in the world?

The countries with the highest volumes of polymethyl methacrylate consumption in 2021 were China, the United States and India, with a combined 41% share of global consumption. These countries were followed by Japan, Germany, Brazil, Russia, Indonesia, Taiwan Chinese), Saudi Arabia, the UK and Italy, which together accounted for a further 30%.

What are the largest producers of polymethyl methacrylate in primary forms in the world?

The countries with the highest volumes of polymethyl methacrylate production in 2021 were the United States, China and South Korea, together accounting for 32% of global production. These countries were followed by India, Japan, Germany, Brazil, Russia, Indonesia, Singapore, Italy, the UK and Saudi Arabia, which together accounted for a further 42%.

What are the leading suppliers of polymethyl methacrylate in primary forms to Nigeria?

In value terms, Indonesia constituted the largest supplier of polymethyl methacrylate to Nigeria, comprising 74% of total imports. The second position in the ranking was occupied by China, with a 12% share of total imports.

What are the leading importers of polymethyl methacrylate in primary forms from Nigeria?

In value terms, Cote d'Ivoire $87), Sao Tome and Principe $82) and Ghana $9) appeared to be the largest markets for polymethyl methacrylate exported from Nigeria worldwide, together accounting for 74% of total exports.

What is the average export price for polymethyl methacrylate in primary forms in Nigeria?

In 2019, the average polymethyl methacrylate export price amounted to $4,745 per ton, increasing by 29% against the previous year.

What is the average import price for polymethyl methacrylate in primary forms in Nigeria?

In 2021, the average polymethyl methacrylate import price amounted to $2,463 per ton, shrinking by -29.9% against the previous year.

This report provides an in-depth analysis of the polymethyl methacrylate 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 20165350 - Polymethyl methacrylate, in primary forms

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