Price for Adhesives; Prepared, Based On Rubber or Plastics (Including Artificial Resins) in Nigeria - 2023
Contents:
- Price for Adhesives; Prepared, Based On Rubber or Plastics (Including Artificial Resins) in Nigeria (CIF) - 2022
- Price for Adhesives; Prepared, Based On Rubber or Plastics (Including Artificial Resins) in Nigeria (FOB) - 2022
- Imports of Adhesives; Prepared, Based On Rubber or Plastics (Including Artificial Resins) in Nigeria
- Exports of Adhesives; Prepared, Based On Rubber or Plastics (Including Artificial Resins) in Nigeria
Price for Adhesives; Prepared, Based On Rubber or Plastics (Including Artificial Resins) in Nigeria (CIF) - 2022
In 2022, the average import price for adhesives; prepared, based on rubber or plastics (including artificial resins) amounted to $2,672 per ton, jumping by 27% against the previous year. Over the period under review, the import price saw a strong increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 63%. As a result, import price attained the peak level of $3,587 per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($4,036 per ton), while the price for Hong Kong SAR ($440 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Adhesives; Prepared, Based On Rubber or Plastics (Including Artificial Resins) in Nigeria (FOB) - 2022
In 2022, the average export price for adhesives; prepared, based on rubber or plastics (including artificial resins) amounted to $2,147 per ton, jumping by 55% against the previous year. Over the period under review, the export price continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 3,591% against the previous year. As a result, the export price attained the peak level of $45,706 per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($2,191 per ton), while the average price for exports to Benin amounted to $2,138 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+26.7%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Adhesives; Prepared, Based On Rubber or Plastics (Including Artificial Resins) in Nigeria
In 2022, imports of adhesives; prepared, based on rubber or plastics (including artificial resins) into Nigeria reached 12K tons, growing by 11% compared with the previous year. The total import volume increased at an average annual rate of +2.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. As a result, imports attained the peak of 15K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of adhesives; prepared, based on rubber or plastics (including artificial resins) soared to $31M in 2022. In general, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +20.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 59% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.
| Import of Adhesives; Prepared, Based On Rubber or Plastics (Including Artificial Resins) in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 4.9 | 11.1 | 10.0 | 11.8 | 34.0% |
| China | 4.0 | 6.3 | 4.6 | 8.2 | 27.0% |
| Thailand | 0.9 | 1.5 | 1.7 | 2.4 | 38.7% |
| United States | 1.1 | 2.7 | 1.4 | 2.1 | 24.1% |
| Italy | 0.4 | 1.2 | 0.6 | 2.0 | 71.0% |
| South Africa | 0.1 | N/A | 0.1 | 1.1 | 122.4% |
| Germany | 0.4 | 1.3 | 0.8 | 1.1 | 40.1% |
| Turkey | 0.4 | 0.7 | 0.4 | 0.3 | -9.1% |
| Hong Kong SAR | N/A | N/A | 0.2 | 0.3 | 50.0% |
| Egypt | 2.9 | 1.2 | N/A | 0.1 | -67.5% |
| Spain | 0.7 | N/A | 0.1 | N/A | -62.2% |
| Indonesia | 0.3 | 0.3 | 0.4 | N/A | 15.5% |
| Others | 1.8 | 1.9 | 1.6 | 1.8 | 0.0% |
| Total | 17.8 | 28.3 | 21.9 | 31.1 | 20.4% |
Top Suppliers of Adhesives; Prepared, Based On Rubber or Plastics (Including Artificial Resins) to Nigeria in 2022:
- China (3793.4 tons)
- India (3149.9 tons)
- United States (1096.5 tons)
- Thailand (996.9 tons)
- Hong Kong SAR (607.1 tons)
- Italy (505.5 tons)
- South Africa (324.7 tons)
- Germany (300.9 tons)
- Turkey (175.8 tons)
- Egypt (36.0 tons)
- Spain (0.1 tons)
Exports of Adhesives; Prepared, Based On Rubber or Plastics (Including Artificial Resins) in Nigeria
In 2022, approx. 382 tons of adhesives; prepared, based on rubber or plastics (including artificial resins) were exported from Nigeria; growing by 114% on the year before. In general, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of adhesives; prepared, based on rubber or plastics (including artificial resins) skyrocketed to $821K in 2022. Overall, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Adhesives; Prepared, Based On Rubber or Plastics (Including Artificial Resins) in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Benin | 66.6 | 31.6 | 98.2 | 677 | 116.6% |
| Ghana | N/A | 44.1 | 102 | 143 | 80.1% |
| Ireland | N/A | 46.6 | N/A | N/A | 0% |
| Cabo Verde | N/A | N/A | 31.9 | N/A | 0% |
| Others | N/A | N/A | 16.1 | N/A | 0% |
| Total | 66.6 | 122 | 248 | 821 | 131.0% |
Top Export Markets for Adhesives; Prepared, Based On Rubber or Plastics (Including Artificial Resins) from Nigeria in 2022:
- Benin (316.7 tons)
- Ghana (65.4 tons)
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