Nigeria: Market for Pure Polyvinyl Chloride in Primary Forms 2024

Market Size for Pure Polyvinyl Chloride in Primary Forms in Nigeria

For the fourth year in a row, the Nigerien market for pure polyvinyl chloride in primary forms recorded growth in sales value, which increased by 19% to $X in 2022. Overall, consumption, however, enjoyed resilient growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Exports of Pure Polyvinyl Chloride in Primary Forms

Exports from Nigeria

After three years of decline, shipments abroad of pure polyvinyl chloride in primary forms increased by 528% to X tons in 2022. In general, exports, however, continue to indicate a significant contraction. Over the period under review, the exports of reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of pure polyvinyl chloride in primary forms surged to $X in 2022. Over the period under review, exports, however, showed a sharp reduction. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Benin (X tons) was the main destination for exports of pure polyvinyl chloride in primary forms from Nigeria, with a 75% share of total exports. Moreover, exports of pure polyvinyl chloride in primary forms to Benin exceeded the volume sent to the second major destination, Guatemala (X tons), threefold. Ghana (X kg) ranked third in terms of total exports with a 0.4% share.

From 2012 to 2022, the average annual growth rate of volume to Benin stood at +99.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (0.0% per year) and Ghana (-55.9% per year).

In value terms, Benin ($X) emerged as the key foreign market for pure polyvinyl chloride in primary forms exports from Nigeria, comprising 75% of total exports. The second position in the ranking was held by Guatemala ($X), with a 25% share of total exports. It was followed by Ghana, with a 0.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Benin stood at +46.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (0.0% per year) and Ghana (-58.8% per year).

Export Prices by Country

In 2022, the average export price for pure polyvinyl chloride in primary forms amounted to $X per ton, dropping by -29.6% against the previous year. In general, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2020 an increase of 54% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Ghana ($X per ton) and Niger ($X per ton), while the average price for exports to Guatemala ($X per ton) and Benin ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+5.0%), while the prices for the other major destinations experienced a decline.

Imports of Pure Polyvinyl Chloride in Primary Forms

Imports into Nigeria

In 2022, supplies from abroad of pure polyvinyl chloride in primary forms decreased by -5.2% to X tons, falling for the second consecutive year after four years of growth. In general, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -6.5% against 2020 indices. The growth pace was the most rapid in 2019 when imports increased by 28%. Over the period under review, imports of attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of pure polyvinyl chloride in primary forms soared to $X in 2022. Over the period under review, imports, however, recorded a resilient increase. The growth pace was the most rapid in 2020 with an increase of 107% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Belize (X tons), China (X tons) and the United States (X tons) were the main suppliers of imports of pure polyvinyl chloride in primary forms to Nigeria, together accounting for 76% of total imports. South Korea, India and South Africa lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Africa (with a CAGR of +38.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pure polyvinyl chloride in primary forms suppliers to Nigeria were Belize ($X), China ($X) and the United States ($X), with a combined 73% share of total imports. South Korea, India and South Africa lagged somewhat behind, together comprising a further 21%.

South Africa, with a CAGR of +40.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for pure polyvinyl chloride in primary forms stood at $X per ton in 2022, surging by 39% against the previous year. Over the period under review, the import price recorded a buoyant increase. The pace of growth was the most pronounced in 2020 an increase of 73%. The import price peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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