Price for Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in Nigeria - 2022
Contents:
- Price for Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in Nigeria (CIF) - 2022
- Price for Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in Nigeria (FOB) - 2022
- Imports of Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in Nigeria
- Exports of Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in Nigeria
Price for Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in Nigeria (CIF) - 2022
The average import price for paints and varnishes, based on polyesters, non-aqueous medium stood at $1,942 per ton in 2022, increasing by 23% against the previous year. Over the period under review, the import price, however, saw a deep setback. The pace of growth was the most pronounced in 2016 when the average import price increased by 24% against the previous year. As a result, import price attained the peak level of $4,317 per ton. From 2017 to 2022, the average import prices remained at a lower figure.
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 India ($7,608 per ton), while the price for the United States ($469 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+25.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in Nigeria (FOB) - 2022
The average export price for paints and varnishes, based on polyesters, non-aqueous medium stood at $4,205 per ton in 2022, with a decrease of -7.4% against the previous year. Overall, the export price continues to indicate a abrupt shrinkage. The export price peaked at $4,539 per ton in 2021, and then reduced in the following year.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($4,993 per ton), while the average price for exports to Niger ($527 per ton) was amongst the lowest.
From 2021 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+5.0%).
Imports of Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in Nigeria
Imports of paints and varnishes, based on polyesters, non-aqueous medium into Nigeria totaled 541 tons in 2022, picking up by 9.1% on 2021 figures. In general, imports posted a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 442%. As a result, imports reached the peak of 563 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of paints and varnishes, based on polyesters, non-aqueous medium skyrocketed to $1.1M in 2022. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 505%. Imports peaked in 2022 and are likely to see steady growth in the near future.
| Import of Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 0.2 | 570 | 387 | 499 | 1256.3% |
| United Arab Emirates | 87.4 | 1.1 | 15.9 | 344 | 57.9% |
| Egypt | N/A | 170 | N/A | 96.4 | -24.7% |
| India | N/A | N/A | 191 | 69.8 | -63.5% |
| Germany | 43.7 | 59.4 | 71.6 | 25.7 | -16.2% |
| United States | 20.7 | N/A | 18.4 | 12.3 | -15.9% |
| Ghana | N/A | N/A | 22.4 | N/A | 0% |
| Others | 7.1 | 163 | 76.5 | 3.6 | -20.3% |
| Total | 159 | 963 | 783 | 1,051 | 87.7% |
Top Suppliers of Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium to Nigeria in 2022:
- China (409.2 tons)
- United Arab Emirates (56.4 tons)
- United States (26.2 tons)
- Egypt (25.1 tons)
- Germany (13.5 tons)
- India (9.2 tons)
Exports of Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in Nigeria
In 2022, the amount of paints and varnishes, based on polyesters, non-aqueous medium exported from Nigeria declined sharply to 25 tons, falling by -46% compared with the previous year. Overall, exports recorded a significant decrease.
In value terms, exports of paints and varnishes, based on polyesters, non-aqueous medium fell remarkably to $104K in 2022. Over the period under review, exports faced a dramatic curtailment.
| Export of Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Benin | 198 | 102 | -48.5% | ||
| South Africa | N/A | 1.8 | 0% | ||
| Niger | 4.0 | 1.1 | -72.5% | ||
| United Arab Emirates | 6.5 | N/A | 0% | ||
| Others | N/A | N/A | 0% | ||
| Total | 209 | 104 | -50.2% | ||
Top Export Markets for Paints and Varnishes, Based On Polyesters, Non-Aqueous Medium from Nigeria in 2022:
- Benin (20.3 tons)
- South Africa (2.3 tons)
- Niger (2.2 tons)
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