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Nigeria - Plastics in Primary Forms - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Market for Plastics in Primary Forms 2024
Market Size for Plastics in Primary Forms in Nigeria
The Nigerien plastics in primary forms market expanded modestly to $X in 2023, increasing by X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.
Production of Plastics in Primary Forms in Nigeria
In value terms, plastics in primary forms production expanded to $X in 2023 estimated in export price. In general, production, however, continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.
Exports of Plastics in Primary Forms
Exports from Nigeria
In 2023, plastics in primary forms exports from Nigeria declined markedly to X tons, waning by X% against the previous year. Overall, exports recorded a pronounced decline. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.
In value terms, plastics in primary forms exports fell notably to $X in 2023. In general, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
India (X tons) was the main destination for plastics in primary forms exports from Nigeria, accounting for a X% share of total exports. Moreover, plastics in primary forms exports to India exceeded the volume sent to the second major destination, Morocco (X tons), more than tenfold. The United States (X tons) ranked third in terms of total exports with a X% share.
From 2012 to 2023, the average annual growth rate of volume to India totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (X% per year) and the United States (X% per year).
In value terms, India ($X) emerged as the key foreign market for plastics in primary formses exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Morocco ($X), with a X% share of total exports. It was followed by the United States, with a X% share.
From 2012 to 2023, the average annual growth rate of value to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (X% per year) and the United States (X% per year).
Export Prices by Country
In 2023, the average plastics in primary forms export price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Belgium ($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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Plastics in Primary Forms
Imports into Nigeria
In 2023, supplies from abroad of plastics in primary formses decreased by X% to X tons, falling for the third year in a row after five years of growth. Overall, imports, however, saw a strong increase. The pace of growth appeared the most rapid in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports failed to regain momentum.
In value terms, plastics in primary forms imports reduced to $X in 2023. Over the period under review, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.
Imports by Country
China (X tons), Saudi Arabia (X tons) and South Korea (X tons) were the main suppliers of plastics in primary forms imports to Nigeria, with a combined X% share of total imports.
From 2012 to 2023, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, China ($X), Saudi Arabia ($X) and South Korea ($X) constituted the largest plastics in primary forms suppliers to Nigeria, with a combined X% share of total imports. The United States, India, Qatar, South Africa, Thailand, Belgium and Turkey lagged somewhat behind, together comprising a further X%.
Thailand, with a CAGR of X%, recorded the highest rates of growth with regard to 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
The average plastics in primary forms import price stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the import price showed a noticeable descent. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for plastics in primary forms 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:
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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