Price for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in Nigeria - 2022

Contents:

1. Price for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in Nigeria (CIF) - 2022
2. Imports of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in Nigeria

Price for Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in Nigeria (CIF) - 2022

In 2022, the average import price for paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium amounted to $1,483 per ton, dropping by -18.7% against the previous year. In general, the import price showed a abrupt contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 87%. As a result, import price reached the peak level of $5,541 per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($4,266 per ton), while the price for Egypt ($634 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.4%), while the prices for the other major suppliers experienced a decline.

Imports of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium in Nigeria

For the fourth consecutive year, Nigeria recorded growth in purchases abroad of paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium, which increased by 3.6% to 4.8K tons in 2022. The total import volume increased at an average annual rate of +13.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 31%. Over the period under review, imports of attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, non-aqueous medium contracted dramatically to $7.1M in 2022. In general, imports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 27%. As a result, imports reached the peak of $11M. From 2021 to 2022, the growth of imports of remained at a lower figure.

Top Suppliers of Paints and Varnishes, Based On Acrylic or Vinyl Polymers, Non-Aqueous Medium to Nigeria in 2022:

1. China (1231.3 tons)
2. Italy (1055.0 tons)
3. South Africa (718.9 tons)
4. United Kingdom (559.8 tons)
5. United States (215.6 tons)
6. Egypt (199.6 tons)
7. United Arab Emirates (153.5 tons)
8. Germany (135.7 tons)
9. India (131.3 tons)
10. Ghana (97.7 tons)
11. Spain (85.9 tons)

Source: IndexBox Market Intelligence Platform