Nigeria: Market for Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning 2024

Market Size for Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning in Nigeria

In 2021, the Nigerien market for polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning decreased by -3.5% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, the total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +1.3% against 2017 indices. Consumption of peaked at $X in 2020, and then reduced in the following year.

Production of Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning in Nigeria

In value terms, production of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning shrank to $X in 2021 estimated in export price. Overall, production recorded a temperate expansion. The most prominent rate of growth was recorded in 2017 with an increase of 84% against the previous year. Production of peaked at $X in 2020, and then shrank modestly in the following year.

Exports of Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning

Exports from Nigeria

Exports of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning from Nigeria reduced rapidly to X tons in 2021, which is down by -72.1% on 2020. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 489%. As a result, the exports attained the peak of X tons, and then shrank dramatically in the following year.

In value terms, exports of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning surged to $X in 2021. Overall, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 340%. Over the period under review, the exports of attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for exports of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning from Nigeria, accounting for a 81% share of total exports. Moreover, exports of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning to Cote d'Ivoire exceeded the volume sent to the second major destination, France (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Cote d'Ivoire amounted to -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (0.0% per year) and Mozambique (+1.8% per year).

In value terms, Mozambique ($X) emerged as the key foreign market for polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning exports from Nigeria, comprising 57% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Mozambique stood at +224.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+4.1% per year) and France (0.0% per year).

Export Prices by Country

In 2021, the average export price for polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning amounted to $X per ton, rising by 534% against the previous year. Over the period under review, the export price recorded significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mozambique ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Mozambique (+218.3%).

Imports of Polypropylene Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed for spinning

Imports into Nigeria

Imports of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning into Nigeria soared to X tons in 2021, increasing by 25% against the previous year's figure. Over the period under review, imports continue to indicate noticeable growth. The most prominent rate of growth was recorded in 2013 when imports increased by 709% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning soared to $X in 2021. Overall, imports, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2013 when imports increased by 614%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

South Africa (X tons), South Korea (X tons) and China (X tons) were the main suppliers of imports of polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning to Nigeria, together accounting for 90% of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +30.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning suppliers to Nigeria were South Africa ($X), South Korea ($X) and China ($X), together accounting for 89% of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +16.5%, 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 import price for polypropylene synthetic tow and staple not carded, combed or otherwise processed for spinning amounted to $X per ton, falling by -3% against the previous year. In general, the import price recorded a deep setback. The growth pace was the most rapid in 2017 when the average import price increased by 38% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Japan ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+6.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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