Nigeria: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Nigeria

The Nigerien market for polyethylene with a specific gravity of less than X, in primary forms contracted to $X in 2022, dropping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, enjoyed a prominent increase. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports from Nigeria

In 2022, shipments abroad of polyethylene with a specific gravity of less than X, in primary forms decreased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports, however, continue to indicate noticeable growth. The smallest decline of X% was in 2015. The exports peaked at X tons in 2021, and then declined rapidly in the following year.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms shrank markedly to $X in 2022. Overall, exports recorded a pronounced decrease. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports of hit record highs at $X in 2021, and then plummeted in the following year.

Exports by Country

Belgium (X tons), Ghana (X tons) and Cote d'Ivoire (X tons) were the main destinations of exports of polyethylene with a specific gravity of less than X, in primary forms from Nigeria, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Ghana ($X) and Cote d'Ivoire ($X) constituted the largest markets for polyethylene with a specific gravity of less than X exported from Nigeria worldwide, with a combined X% share of total exports.

Among the main countries of destination, Belgium, 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 more modest paces of growth.

Export Prices by Country

In 2022, the average export price for polyethylene with a specific gravity of less than X, in primary forms amounted to $X per ton, which is down by X% against the previous year. In general, the export price recorded a deep slump. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports into Nigeria

In 2022, purchases abroad of polyethylene with a specific gravity of less than X, in primary forms decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms reduced to $X in 2022. Overall, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons), the United States (X tons) and Qatar (X tons) were the main suppliers of imports of polyethylene with a specific gravity of less than X, in primary forms to Nigeria, with a combined X% share of total imports. South Korea, Belgium, China, the United Arab Emirates and India lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United States ($X) and Qatar ($X) were the largest polyethylene with a specific gravity of less than X suppliers to Nigeria, with a combined X% share of total imports. South Korea, Belgium, China, the United Arab Emirates and India lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of X%, saw the highest growth rate of 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 2022, the average import price for polyethylene with a specific gravity of less than X, in primary forms amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Belgium ($X per ton) and the United States ($X per ton), while the price for China ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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