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Nigeria - Paints and Varnishes Dispersed or Dissolved in A Non-Aqueous Medium - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024
Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Nigeria
The Nigerien non-aqueous paint and varnish market reached $X in 2023, picking up by X% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a lower figure.
Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Nigeria
In value terms, non-aqueous paint and varnish production rose sharply to $X in 2023 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2017 to 2023, production growth remained at a lower figure.
Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium
Exports from Nigeria
In 2023, the amount of paints and varnishes dispersed or dissolved in a non-aqueous medium exported from Nigeria fell rapidly to X tons, declining by X% against 2022. Overall, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, the exports reached the peak of X tons. From 2016 to 2023, the growth of the exports failed to regain momentum.
In value terms, non-aqueous paint and varnish exports shrank significantly to $X in 2023. In general, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.
Exports by Country
Benin (X tons) was the main destination for non-aqueous paint and varnish exports from Nigeria, accounting for a X% share of total exports. Moreover, non-aqueous paint and varnish exports to Benin exceeded the volume sent to the second major destination, Togo (X tons), threefold.
From 2012 to 2023, the average annual rate of growth in terms of volume to Benin amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (X% per year) and Ghana (X% per year).
In value terms, Benin ($X) emerged as the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Togo ($X), with a X% share of total exports.
From 2012 to 2023, the average annual growth rate of value to Benin totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (X% per year) and Ghana (X% per year).
Export Prices by Country
The average non-aqueous paint and varnish export price stood at $X per ton in 2023, waning by X% against the previous year. In general, the export price, however, posted a resilient increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2023, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($X per ton), while the average price for exports to Togo ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Niger (X%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium
Imports into Nigeria
In 2023, after two years of decline, there was significant growth in supplies from abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium, when their volume increased by X% to X tons. Overall, imports continue to indicate a pronounced expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the immediate term.
In value terms, non-aqueous paint and varnish imports soared to $X in 2023. Over the period under review, total imports indicated a slight increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2023, the growth of imports failed to regain momentum.
Imports by Country
In 2023, China (X tons) constituted the largest supplier of non-aqueous paint and varnish to Nigeria, accounting for a X% share of total imports. Moreover, non-aqueous paint and varnish imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Germany (X% per year).
In value terms, the largest non-aqueous paint and varnish suppliers to Nigeria were China ($X), Germany ($X) and the United Arab Emirates ($X), together accounting for X% of total imports. South Africa, Italy, India, the UK, Turkey, Singapore, Egypt, Ghana and Thailand lagged somewhat behind, together comprising a further X%.
In terms of the main suppliers, Singapore, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the average non-aqueous paint and varnish import price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price saw a slight slump. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for non-aqueous paint and varnish 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 20301225 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium, weight of the solvent > .50 % of the weight of the solution including enamels and lacquers
- Prodcom 20301229 - Paints and varnishes, based on polyesters dispersed/dissolved in a non-aqueous medium including enamels and lacquers excluding weight of the solvent > .50 % of the weight of the solution
- Prodcom 20301230 - Paints and varnishes, based on acrylic or vinyl polymers dispersed/dissolved in non-aqueous medium, weight of the solvent > .50 % of the solution weight including enamels and lacquers
- Prodcom 20301250 - Other paints and varnishes based on acrylic or vinyl polymers
- Prodcom 20301270 - Paints and varnishes: solutions n.e.c.
- Prodcom 20301290 - Other paints and varnishes based on synthetic polymers n.e.c.
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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