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Nigeria - Synthetic Rubber - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSynthetic Rubber Price in Nigeria - 2022
Contents:
- Synthetic Rubber Price in Nigeria (CIF) - 2022
- Synthetic Rubber Price in Nigeria (FOB) - 2022
- Synthetic Rubber Imports in Nigeria
- Synthetic Rubber Exports in Nigeria
Synthetic Rubber Price in Nigeria (CIF) - 2022
The average synthetic rubber import price stood at $2,479 per ton in 2022, surging by 47% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, synthetic rubber import price increased by +60.4% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 67% against the previous year. As a result, import price attained the peak level of $2,611 per ton. From 2015 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($3,622 per ton), while the price for Spain ($321 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+20.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Synthetic Rubber Price in Nigeria (FOB) - 2022
In 2022, the average synthetic rubber export price amounted to $1,583 per ton, remaining stable against the previous year. Over the period under review, the export price continues to indicate a deep downturn. The growth pace was the most rapid in 2014 an increase of 1,581%. Over the period under review, the average export prices reached the peak figure at $5,419 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were South Africa ($1,632 per ton) and Germany ($1,603 per ton), while the average price for exports to Spain ($1,462 per ton) and Turkey ($1,559 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 Spain (+10.9%).
Synthetic Rubber Imports in Nigeria
In 2022, the amount of synthetic rubber imported into Nigeria contracted markedly to 2.4K tons, dropping by -44% compared with 2021 figures. Overall, imports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2021 when imports increased by 13%. As a result, imports attained the peak of 4.3K tons, and then fell sharply in the following year.
In value terms, synthetic rubber imports dropped dramatically to $6M in 2022. Over the period under review, imports continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2021 when imports increased by 21% against the previous year. As a result, imports attained the peak of $7.3M, and then shrank sharply in the following year.
Import of Synthetic Rubber in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Taiwan (Chinese) | 18.8 | 111 | 3,255 | 2,076 | 379.8% |
Germany | 1,723 | 2,135 | 2,155 | 1,221 | -10.8% |
India | 167 | 251 | 94.8 | 697 | 61.0% |
China | 944 | 594 | 511 | 445 | -22.2% |
United States | 659 | 144 | N/A | 359 | -18.3% |
Belgium | 20.3 | 1,097 | 103 | 279 | 139.5% |
Pakistan | N/A | 488 | 238 | 221 | -32.7% |
Egypt | 577 | 67.9 | 338 | 209 | -28.7% |
Spain | N/A | N/A | 8.5 | 48.2 | 467.1% |
South Korea | 1,021 | 331 | 72.4 | N/A | -73.4% |
Others | 1,392 | 852 | 540 | 446 | -31.6% |
Total | 6,520 | 6,071 | 7,316 | 6,001 | -2.7% |
Top Suppliers of Synthetic Rubber to Nigeria in 2022:
- Taiwan (Chinese) (736.6 tons)
- Germany (647.6 tons)
- India (511.1 tons)
- China (218.7 tons)
- Belgium (165.6 tons)
- Spain (150.0 tons)
- Pakistan (125.4 tons)
- United States (122.7 tons)
- Egypt (111.5 tons)
Synthetic Rubber Exports in Nigeria
In 2022, approx. 423 tons of synthetic rubber were exported from Nigeria; remaining stable against the previous year's figure. Over the period under review, exports saw a significant increase. The smallest decline of 99.9% was in 2021. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, synthetic rubber exports amounted to $670K in 2022. Overall, exports showed significant growth. The smallest decline of 99.9% was in 2021. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
Export of Synthetic Rubber in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2020 | 2021 | 2022 | CAGR, 2020-2022 | |
Germany | N/A | N/A | 323 | 0% | |
South Africa | N/A | N/A | 165 | 0% | |
Turkey | N/A | N/A | 94.3 | 0% | |
Spain | 135 | N/A | 88.4 | -19.1% | |
Others | N/A | N/A | N/A | 0% | |
Total | 135 | N/A | 670 | 122.8% |
Top Export Markets for Synthetic Rubber from Nigeria in 2022:
- Germany (201.6 tons)
- South Africa (100.8 tons)
- Turkey (60.5 tons)
- Spain (60.5 tons)
This report provides an in-depth analysis of the synthetic rubber 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 20171050 - Synthetic latex rubber
- Prodcom 20171090 - Synthetic rubber (excluding latex)
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
-
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
This report provides an in-depth analysis of the synthetic rubber market in Nigeria.
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This report provides an in-depth analysis of the market for synthetic rubber (excluding latex) in Nigeria.
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This report provides an in-depth analysis of the global synthetic rubber market.
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This report provides an in-depth analysis of the global market for synthetic rubber (excluding latex).
This report provides an in-depth analysis of the global synthetic latex rubber market.
This report provides an in-depth analysis of the synthetic rubber market in Nigeria.
This report provides an in-depth analysis of the market for isoprene rubber (ir) in primary form in Nigeria.
Learn about the growing demand for synthetic rubber worldwide and the anticipated market trends from 2023 to 2030, including projected increases in both volume and value.
In 2016, the amount of synthetic rubber imported worldwide amounted to X tons, approximately mirroring the previous year level. The total import volume increased at an average annual rate of +X>
In 2016, the amount of synthetic rubber imported worldwide amounted to X tons, approximately mirroring the previous year level. The total import volume increased at an average annual rate of +X>
Discover the top import markets for synthetic rubber (excluding latex) with key statistics and analysis. Learn about the leading countries driving the demand for synthetic rubber. Read more on IndexBox market intelligence platform.
Discover the top import markets for synthetic latex rubber and their key statistics. Malaysia, China, and Thailand lead the way, according to IndexBox data.
Learn about the growing demand for synthetic rubber worldwide and the anticipated market trends from 2023 to 2030, including projected increases in both volume and value.
In 2016, the amount of synthetic rubber imported worldwide amounted to X tons, approximately mirroring the previous year level. The total import volume increased at an average annual rate of +X>
In 2016, the amount of synthetic rubber imported worldwide amounted to X tons, approximately mirroring the previous year level. The total import volume increased at an average annual rate of +X>
Discover the top import markets for synthetic rubber (excluding latex) with key statistics and analysis. Learn about the leading countries driving the demand for synthetic rubber. Read more on IndexBox market intelligence platform.
Discover the top import markets for synthetic latex rubber and their key statistics. Malaysia, China, and Thailand lead the way, according to IndexBox data.