Nigeria - Polystyrene, In Primary Forms - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPolystyrene Price in Nigeria - 2022
Contents:
- Polystyrene Price in Nigeria (CIF) - 2022
- Polystyrene Price in Nigeria (FOB) - 2022
- Polystyrene Imports in Nigeria
- Polystyrene Exports in Nigeria
Polystyrene Price in Nigeria (CIF) - 2022
In June 2022, the average polystyrene import price amounted to $1,954 per ton, with a decrease of -21.6% against the previous month. In general, the import price, however, continues to indicate slight growth. The pace of growth was the most pronounced in February 2022 when the average import price increased by 138% month-to-month. As a result, import price attained the peak level of $4,324 per ton. From March 2022 to June 2022, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2022, the country with the highest price was France ($2,408 per ton), while the price for China ($821 per ton) was amongst the lowest.
From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by India (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Polystyrene Price in Nigeria (FOB) - 2022
In 2022, the average polystyrene export price amounted to $666 per ton, with a decrease of -8.3% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 71% against the previous year. Over the period under review, the average export prices reached the peak figure at $756 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.
Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($861 per ton), while the average price for exports to Malaysia totaled $671 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+68.5%), while the prices for the other major destinations experienced more modest paces of growth.
Polystyrene Imports in Nigeria
In 2022, the amount of polystyrene imported into Nigeria was estimated at 11K tons, picking up by 6.7% on 2021 figures. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 28%. As a result, imports attained the peak of 15K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, polystyrene imports skyrocketed to $30M in 2022. In general, imports recorded a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 32%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.
Import of Polystyrene in Nigeria (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 0.9 | 1.3 | 1.9 | 5.3 | 80.6% |
India | 0.2 | 0.4 | 3.5 | 5.1 | 194.3% |
South Korea | 4.1 | 6.4 | 4.4 | 4.5 | 3.2% |
Taiwan (Chinese) | 0.8 | 2.7 | 3.1 | 4.2 | 73.8% |
Saudi Arabia | 2.8 | 1.8 | 1.8 | 2.9 | 1.2% |
Thailand | 1.6 | 2.6 | 1.5 | 2.5 | 16.0% |
Hong Kong SAR | 0.2 | 0.3 | 0.3 | 0.4 | 26.0% |
Others | 3.2 | 2.7 | 6.5 | 5.3 | 18.3% |
Total | 13.8 | 18.3 | 22.9 | 30.2 | 29.8% |
Top Suppliers of Polystyrene to Nigeria in 2022:
- China (2.6K tons)
- Taiwan (Chinese) (1.7K tons)
- South Korea (1.6K tons)
- Saudi Arabia (1.3K tons)
- India (1.3K tons)
- Thailand (1.0K tons)
- Hong Kong SAR (0.2K tons)
Polystyrene Exports in Nigeria
In 2022, exports of polystyrene from Nigeria declined markedly to 16 tons, which is down by -49.4% on 2021. In general, exports, however, saw a strong expansion. The pace of growth was the most pronounced in 2021 when exports increased by 572%. As a result, the exports reached the peak of 31 tons, and then reduced remarkably in the following year.
In value terms, polystyrene exports dropped markedly to $10K in 2022. Overall, exports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2021 when exports increased by 845%. As a result, the exports reached the peak of $23K, and then dropped rapidly in the following year.
Export of Polystyrene in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Malaysia | 3.5 | 1.7 | 6.5 | 2.9 | -6.1% |
Ghana | 2.1 | 0.6 | 9.0 | 2.2 | 1.6% |
Others | 0.5 | 0.1 | 7.1 | 5.3 | 119.7% |
Total | 6.1 | 2.4 | 22.6 | 10.5 | 19.8% |
Top Export Markets for Polystyrene from Nigeria in 2022:
- Malaysia (4.3 tons)
- Ghana (2.6 tons)
This report provides an in-depth analysis of the polystyrene 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 20162035 - Expansible polystyrene, in primary forms
- Prodcom 20162039 - Polystyrene, in primary forms (excluding expansible polystyrene)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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In 2016, the amount of polystyrene imported worldwide amounted to X tons, coming up by X% against the previous year figure. Overall, polystyrene imports continue to indicate a relatively flat tren...
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