Report Update: May 1, 2024

Nigeria - Polymethyl Methacrylate In Primary Forms - Market Analysis, Forecast, Size, Trends And Insights

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Polymethyl Methacrylate Price in Nigeria - 2022

Polymethyl Methacrylate Price in Nigeria (CIF) - 2022

The average polymethyl methacrylate import price stood at $2,466 per ton in 2022, picking up by 75% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $3,276 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($2,375 per ton), while the price for Hong Kong SAR ($1,264 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Polymethyl Methacrylate Price in Nigeria (FOB) - 2022

The average polymethyl methacrylate export price stood at $11,292 per ton in 2022, remaining stable against the previous year. In general, the export price posted significant growth. The growth pace was the most rapid in 2019 an increase of 20% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2013 to 2022, the rate of growth in terms of prices for Canada amounted to -11.0% per year.

Polymethyl Methacrylate Imports in Nigeria

After three years of growth, supplies from abroad of polymethyl methacrylate in primary forms decreased by -9.6% to 3.2K tons in 2022. Over the period under review, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 357%. As a result, imports reached the peak of 3.5K tons, and then contracted in the following year.

In value terms, polymethyl methacrylate imports skyrocketed to $7.8M in 2022. Overall, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 173%. Imports peaked in 2022 and are likely to continue growth in years to come.

Import of Polymethyl Methacrylate in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	982	1,298	2,138	3,620	54.5%
China	97.3	205	208	353	53.7%
India	6.5	67.2	142	263	243.3%
Turkey	50.5	64.5	83.7	149	43.4%
Hong Kong SAR	13.0	21.7	48.1	81.4	84.3%
Others	69.7	151	2,320	3,367	264.2%
Total	1,219	1,808	4,941	7,834	85.9%

Top Suppliers of Polymethyl Methacrylate to Nigeria in 2022:

Indonesia (1524.5 tons)
China (205.0 tons)
India (114.6 tons)
Turkey (80.8 tons)
Hong Kong SAR (64.4 tons)

Polymethyl Methacrylate Exports in Nigeria

In 2022, shipments abroad of polymethyl methacrylate in primary forms decreased by 0% to 48 kg for the first time since 2019, thus ending a two-year declining trend. Overall, exports continue to indicate a noticeable slump. The smallest decline of 99.9% was in 2020.

In value terms, polymethyl methacrylate exports amounted to $542 in 2022. In general, exports continue to indicate a significant increase. The smallest decline of 99.9% was in 2020. The exports peaked in 2022 and are likely to see steady growth in the near future.

Export of Polymethyl Methacrylate in Nigeria (USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Canada	64.0	N/A	N/A	542	103.8%
Sao Tome and Principe	82.0	N/A	N/A	N/A	0%
Ghana	9.0	N/A	N/A	N/A	0%
Others	87.0	N/A	N/A	N/A	0%
Total	242	N/A	N/A	542	30.8%

Top Export Markets for Polymethyl Methacrylate from Nigeria in 2022:

Canada (48.0 kg)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the polymethyl methacrylate 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 20165350 - Polymethyl methacrylate, 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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023