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Nigeria - Plastic Stoppers, Caps and Closures - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Plastic Closure Market 2024
Plastic Closure Market Size in Nigeria
In 2023, the Nigerien plastic closure market increased by X% to $X for the first time since 2020, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a mild decrease. Plastic closure consumption peaked at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.
Plastic Closure Exports
Exports from Nigeria
In 2023, after two years of growth, there was significant decline in shipments abroad of plastic stoppers, caps and closures, when their volume decreased by X% to X tons. Overall, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.
In value terms, plastic closure exports plummeted to $X in 2023. In general, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2023, the exports failed to regain momentum.
Exports by Country
Gabon (X tons), Cameroon (X tons) and Ghana (X tons) were the main destinations of plastic closure exports from Nigeria.
From 2013 to 2023, the biggest increases were recorded for Gabon (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.
In value terms, Cameroon ($X), Gabon ($X) and Ghana ($X) constituted the largest markets for plastic closure exported from Nigeria worldwide, with a combined X% share of total exports.
Among the main countries of destination, Gabon, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.
Export Prices by Country
In 2023, the average plastic closure export price amounted to $X per ton, stabilizing at the previous year. Overall, the export price, however, recorded a significant increase. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The export price peaked at $X per ton in 2021; however, from 2022 to 2023, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cameroon ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Cameroon (X%), while the prices for the other major destinations experienced more modest paces of growth.
Plastic Closure Imports
Imports into Nigeria
In 2023, purchases abroad of plastic stoppers, caps and closures was finally on the rise to reach X tons after two years of decline. Overall, imports, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.
In value terms, plastic closure imports rose rapidly to $X in 2023. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X%. Imports peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.
Imports by Country
Italy (X tons), Turkey (X tons) and India (X tons) were the main suppliers of plastic closure imports to Nigeria, with a combined X% share of total imports. China, France, Egypt, Germany, Hungary, Ireland, Spain, Malaysia and South Africa lagged somewhat behind, together comprising a further X%.
From 2012 to 2023, the biggest increases were recorded for Hungary (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest plastic closure suppliers to Nigeria were Turkey ($X), Italy ($X) and India ($X), together comprising X% of total imports. France, Egypt, Germany, Hungary, Spain, Ireland, Malaysia, China and South Africa lagged somewhat behind, together comprising a further X%.
Hungary, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers 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 plastic closure import price amounted to $X per ton, growing by X% against the previous year. In general, import price indicated a notable increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, plastic closure import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hungary (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the plastic closure 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 22221920 - Plastic caps and capsules for bottles
- Prodcom 22221930 - Plastic stoppers, lids, caps and other closures (excluding for bottles)
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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