Synthetic Filament Tow Price in Nigeria - 2022

Contents:

1. Synthetic Filament Tow Price in Nigeria (CIF) - 2022
2. Synthetic Filament Tow Price in Nigeria (FOB) - 2022
3. Synthetic Filament Tow Imports in Nigeria
4. Synthetic Filament Tow Exports in Nigeria

Synthetic Filament Tow Price in Nigeria (CIF) - 2022

In 2022, the average synthetic filament tow import price amounted to $4,337 per ton, rising by 28% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, synthetic filament tow import price increased by +64.1% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($4,704 per ton), while the price for China ($2,378 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Synthetic Filament Tow Price in Nigeria (FOB) - 2022

The average synthetic filament tow export price stood at $3,473 per ton in 2022, surging by 8% against the previous year. Overall, the export price, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the average export price increased by 162%. The export price peaked at $5,821 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 Kenya ($3,522 per ton), while the average price for exports to Cameroon amounted to $763 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (-7.1%).

Synthetic Filament Tow Imports in Nigeria

After three years of growth, overseas purchases of synthetic filament tows decreased by -40.6% to 4K tons in 2022. Overall, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 97% against the previous year.

In value terms, synthetic filament tow imports declined rapidly to $17M in 2022. Over the period under review, imports, however, posted a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 141%.

Top Suppliers of Synthetic Filament Tow to Nigeria in 2022:

1. Japan (1450.5 tons)
2. Malaysia (1167.9 tons)
3. Turkey (352.0 tons)
4. China (255.5 tons)
5. South Africa (160.6 tons)
6. United Kingdom (55.3 tons)
7. Portugal (23.0 tons)

Synthetic Filament Tow Exports in Nigeria

In 2022, after three years of growth, there was significant decline in overseas shipments of synthetic filament tows, when their volume decreased by -24.5% to 30 tons. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 96% against the previous year. As a result, the exports reached the peak of 40 tons, and then declined rapidly in the following year.

In value terms, synthetic filament tow exports shrank rapidly to $106K in 2022. Overall, exports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2021 when exports increased by 58%. As a result, the exports reached the peak of $129K, and then declined notably in the following year.

Top Export Markets for Synthetic Filament Tow from Nigeria in 2022:

1. Kenya (29.6 tons)
2. Cameroon (0.5 tons)

Source: IndexBox Market Intelligence Platform