Price for Petroleum Resins, Coumarone, Indene or Coumarone-Indene Resins and Polyterpenes; in Primary Forms in Nigeria - 2023
Contents:
- Price for Petroleum Resins, Coumarone, Indene or Coumarone-Indene Resins and Polyterpenes; in Primary Forms in Nigeria (CIF) - 2022
- Imports of Petroleum Resins, Coumarone, Indene or Coumarone-Indene Resins and Polyterpenes; in Primary Forms in Nigeria
Price for Petroleum Resins, Coumarone, Indene or Coumarone-Indene Resins and Polyterpenes; in Primary Forms in Nigeria (CIF) - 2022
The average import price for petroleum resins, coumarone, indene or coumarone-indene resins and polyterpenes; in primary formses stood at $1,953 per ton in 2022, with an increase of 22% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 37% against the previous year. As a result, import price attained the peak level of $2,926 per ton. From 2019 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 India ($4,358 per ton), while the price for China ($1,746 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+10.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Imports of Petroleum Resins, Coumarone, Indene or Coumarone-Indene Resins and Polyterpenes; in Primary Forms in Nigeria
In 2022, purchases abroad of petroleum resins, coumarone, indene or coumarone-indene resins and polyterpenes; in primary formses decreased by -14.7% to 517 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its volume increased at an average annual rate of +16.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 84% against the previous year.
In value terms, imports of petroleum resins, coumarone, indene or coumarone-indene resins and polyterpenes; in primary formses amounted to $1M in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +16.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.2% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 38%. Over the period under review, imports of reached the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Petroleum Resins, Coumarone, Indene or Coumarone-Indene Resins and Polyterpenes; in Primary Forms in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 212 | 545 | 336 | 539 | 36.5% |
| United Arab Emirates | 4.8 | 18.1 | 47.3 | 369 | 325.2% |
| India | 21.1 | 1.1 | 2.1 | 55.0 | 37.6% |
| United Kingdom | 25.1 | 107 | 49.9 | 31.8 | 8.2% |
| Singapore | 224 | 43.3 | 455 | N/A | 42.5% |
| Italy | 67.1 | 35.2 | 15.2 | N/A | -52.4% |
| Qatar | 41.8 | 44.7 | 24.6 | N/A | -23.3% |
| United States | 12.5 | 58.7 | 23.9 | N/A | 38.3% |
| Others | 37.1 | 35.1 | 19.2 | 13.9 | -27.9% |
| Total | 646 | 889 | 973 | 1,009 | 16.0% |
Top Suppliers of Petroleum Resins, Coumarone, Indene or Coumarone-Indene Resins and Polyterpenes; in Primary Forms to Nigeria in 2022:
- China (309.0 tons)
- United Arab Emirates (171.4 tons)
- United Kingdom (17.7 tons)
- India (12.6 tons)
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