Nigeria - Phenolic Resins In Primary Forms - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPhenolic Resins Price in Nigeria - 2022
Contents:
- Phenolic Resins Price in Nigeria (CIF) - 2022
- Phenolic Resins Price in Nigeria (FOB) - 2022
- Phenolic Resins Imports in Nigeria
- Phenolic Resins Exports in Nigeria
Phenolic Resins Price in Nigeria (CIF) - 2022
The average phenolic resins import price stood at $3,210 per ton in 2022, rising by 18% against the previous year. Over the last decade, it increased at an average annual rate of +4.9%. The pace of growth appeared the most rapid in 2013 an increase of 29% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($7,143 per ton), while the price for Tunisia ($1,210 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+21.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Phenolic Resins Price in Nigeria (FOB) - 2022
The average phenolic resins export price stood at $1,347 per ton in 2022, standing approx. at the previous year. Overall, the export price faced a deep downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 41% against the previous year. Over the period under review, the average export prices attained the maximum at $5,548 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($8,571 per ton), while the average price for exports to India amounted to $169 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+33.9%).
Phenolic Resins Imports in Nigeria
In 2022, supplies from abroad of phenolic resins in primary forms decreased by -45.9% to 646 tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2020 when imports increased by 53%.
In value terms, phenolic resins imports fell significantly to $2.1M in 2022. In general, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 86% against the previous year.
| Import of Phenolic Resins in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Africa | 217 | 365 | 504 | 315 | 13.2% |
| India | 269 | 848 | 979 | 245 | -3.1% |
| China | 27.4 | 171 | 208 | 128 | 67.2% |
| Germany | 43.9 | 33.9 | 57.9 | 111 | 36.2% |
| South Korea | 41.7 | 94.8 | 123 | 70.7 | 19.2% |
| United Kingdom | 79.4 | 146 | 126 | 58.7 | -9.6% |
| Italy | 10.5 | 41.9 | 68.0 | 39.0 | 54.9% |
| Taiwan (Chinese) | 8.6 | 136 | 22.3 | 33.4 | 57.2% |
| Lebanon | 23.7 | 35.3 | 29.2 | 20.0 | -5.5% |
| Tunisia | 17.4 | 27.9 | 27.7 | 15.3 | -4.2% |
| United Arab Emirates | 73.5 | 117 | 110 | 8.7 | -50.9% |
| United States | 78.2 | 252 | 54.8 | 6.9 | -55.5% |
| Others | 795 | 863 | 942 | 1,021 | 8.7% |
| Total | 1,685 | 3,131 | 3,252 | 2,072 | 7.1% |
Top Suppliers of Phenolic Resins to Nigeria in 2022:
- India (64.7 tons)
- South Africa (64.4 tons)
- China (41.9 tons)
- Germany (34.2 tons)
- South Korea (25.8 tons)
- Tunisia (12.6 tons)
- Italy (10.5 tons)
- Taiwan (Chinese) (9.2 tons)
- United Kingdom (8.2 tons)
- Lebanon (5.3 tons)
- United Arab Emirates (5.1 tons)
- United States (2.4 tons)
Phenolic Resins Exports in Nigeria
In 2022, the amount of phenolic resins in primary forms exported from Nigeria fell to 588 kg, reducing by -7.8% on the previous year's figure. Over the period under review, exports continue to indicate a precipitous decline. The most prominent rate of growth was recorded in 2021 when exports increased by 18%.
In value terms, phenolic resins exports declined to $792 in 2022. Overall, exports faced a dramatic decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 21% against the previous year.
| Export of Phenolic Resins in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | 2,181 | 694 | 824 | 780 | -29.0% |
| India | 98.0 | 22.0 | 18.0 | 12.0 | -50.3% |
| Thailand | N/A | N/A | 13.0 | N/A | 0% |
| Others | N/A | N/A | 14.0 | N/A | 0% |
| Total | 2,279 | 716 | 869 | 792 | -29.7% |
Top Export Markets for Phenolic Resins from Nigeria in 2022:
- Ghana (91.0 kg)
- India (71.0 kg)
This report provides an in-depth analysis of the phenolic resins 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 20165650 - Phenolic resins, in primary forms
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
-
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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