Report Update Nov 1, 2024

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

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Nigeria: Polyurethanes Market 2024

Polyurethanes Market Size in Nigeria

The Nigerien polyurethanes market shrank significantly to $X in 2021, reducing by -40.1% 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, however, recorded a remarkable increase. As a result, consumption reached the peak level of $X, and then reduced remarkably in the following year.

Polyurethanes Exports

Exports from Nigeria

Polyurethanes exports from Nigeria skyrocketed to X tons in 2021, rising by 852% against the previous year's figure. Over the period under review, exports, however, recorded a drastic downturn. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, polyurethanes exports surged to $X in 2021. In general, exports enjoyed a slight expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Angola (X tons) and Greece (X tons) were the main destinations of polyurethanes exports from Nigeria.

From 2012 to 2021, the biggest increases were recorded for Angola (with a CAGR of +159,300.0%).

In value terms, Angola ($X) emerged as the key foreign market for polyurethanes in primary forms exports from Nigeria, comprising 88% of total exports. The second position in the ranking was taken by Greece ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Angola totaled +1,176,050.0%.

Export Prices by Country

In 2021, the average polyurethanes export price amounted to $X per ton, increasing by 11% against the previous year. In general, the export price recorded a strong expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Greece stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+969.3%).

Polyurethanes Imports

Imports into Nigeria

In 2021, after four years of growth, there was significant decline in supplies from abroad of polyurethanes in primary forms, when their volume decreased by -49.2% to X tons. Overall, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 62%. As a result, imports attained the peak of X tons, and then reduced sharply in the following year.

In value terms, polyurethanes imports contracted dramatically to $X in 2021. Over the period under review, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 82%. As a result, imports reached the peak of $X, and then shrank markedly in the following year.

Imports by Country

Italy (X tons), Singapore (X tons) and India (X tons) were the main suppliers of polyurethanes imports to Nigeria, with a combined 32% share of total imports. These countries were followed by Greece, China, Spain, the United Arab Emirates and Morocco, which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Greece (with a CAGR of +27.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), India ($X) and Greece ($X) appeared to be the largest polyurethanes suppliers to Nigeria, together accounting for 34% of total imports.

Greece, with a CAGR of +27.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average polyurethanes import price amounted to $X per ton, with an increase of 27% against the previous year. In general, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, polyurethanes import price increased by +42.9% against 2019 indices. The pace of growth was the most pronounced in 2014 an increase of 30% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for polyurethanes in primary forms in the world?

The country with the largest volume of polyurethanes consumption was China, comprising approx. 22% of total volume. Moreover, polyurethanes consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The third position in this ranking was occupied by the United States, with an 8.2% share.

What are the largest producers of polyurethanes in primary forms in the world?

The country with the largest volume of polyurethanes production was China, comprising approx. 23% of total volume. Moreover, polyurethanes 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 Belgium, with an 8.4% share.

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

In value terms, China, Italy and India were the largest polyurethanes suppliers to Nigeria, with a combined 70% share of total imports.

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

The average polyurethanes export price stood at $7,692 per ton in 2020, remaining stable against the previous year.

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

The average polyurethanes import price stood at $2,995 per ton in 2021, dropping by -1.9% against the previous year.

This report provides an in-depth analysis of the polyurethanes 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 20165670 - Polyurethanes, 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