Report Nigeria - Inks (Excluding Printing Ink) - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Nov 5, 2022

Nigeria - Inks (Excluding Printing Ink) - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Ink Market 2022

Ink Market Size in Nigeria

In 2021, the Nigerien ink market increased by 68% to $X, rising for the third consecutive year after two years of decline. Overall, consumption continues to indicate a buoyant expansion. Ink consumption peaked in 2021 and is likely to see gradual growth in years to come.

Ink Exports

Exports from Nigeria

In 2021, approx. X tons of inks (excluding printing ink) were exported from Nigeria; with an increase of 255% compared with the previous year's figure. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 541%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, ink exports shrank modestly to $X in 2021. Over the period under review, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 218%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Benin (X tons) was the main destination for ink exports from Nigeria, with a 84% share of total exports. Moreover, ink exports to Benin exceeded the volume sent to the second major destination, Burkina Faso (X kg), sixfold.

From 2012 to 2021, the average annual growth rate of volume to Benin stood at +84.7%.

In value terms, Benin ($X) emerged as the key foreign market for ink exports from Nigeria, comprising 68% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 32% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Benin amounted to +39.0%.

Export Prices by Country

The average ink export price stood at $X per ton in 2021, declining by -72.2% against the previous year. Over the period under review, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 137% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Burkina Faso ($X per ton), while the average price for exports to Benin totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Congo (+27.3%), while the prices for the other major destinations experienced more modest paces of growth.

Ink Imports

Imports into Nigeria

In 2021, purchases abroad of inks (excluding printing ink) increased by 67% to X tons, rising for the third consecutive year after two years of decline. Overall, imports posted strong growth. The pace of growth was the most pronounced in 2019 when imports increased by 190% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, ink imports soared to $X in 2021. Over the period under review, imports saw strong growth. The pace of growth was the most pronounced in 2019 with an increase of 322%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

India (X tons), China (X tons) and Germany (X tons) were the main suppliers of ink imports to Nigeria, with a combined 83% share of total imports. These countries were followed by Turkey, Switzerland and France, which together accounted for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +135.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ink suppliers to Nigeria were Switzerland ($X), India ($X) and China ($X), together comprising 75% of total imports. Germany, France and Turkey lagged somewhat behind, together comprising a further 18%.

In terms of the main suppliers, Turkey, with a CAGR of +145.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ink import price stood at $X per ton in 2021, picking up by 2.4% against the previous year. Overall, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ink import price decreased by -44.0% against 2019 indices. The growth pace was the most rapid in 2019 an increase of 45%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for inks (excluding printing ink) in the world?
+
The countries with the highest volumes of consumption in 2021 were China, the United States and India, together accounting for 41% of global consumption. These countries were followed by Greece, Japan, Mexico, Singapore, France, the Philippines, Thailand, Vietnam, Saudi Arabia and the UK, which together accounted for a further 27%.
What are the largest producers of inks (excluding printing ink) in the world?
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The countries with the highest volumes of production in 2021 were China, the United States and India, together accounting for 52% of global production. Japan, Greece, the Philippines, Germany, South Korea, France, the UK, Taiwan Chinese), Mexico and Spain lagged somewhat behind, together accounting for a further 29%.
What are the leading suppliers of inks (excluding printing ink) to Nigeria?
+
In value terms, the largest ink suppliers to Nigeria were Switzerland, India and China, with a combined 75% share of total imports. Germany, France and Turkey lagged somewhat behind, together comprising a further 18%.
What are the leading importers of inks (excluding printing ink) from Nigeria?
+
In value terms, Benin emerged as the key foreign market for ink exports from Nigeria, comprising 68% of total exports. The second position in the ranking was taken by Burkina Faso, with a 32% share of total exports.
What is the average export price for inks (excluding printing ink) in Nigeria?
+
In 2021, the average ink export price amounted to $5,297 per ton, dropping by -72.2% against the previous year.
What is the average import price for inks (excluding printing ink) in Nigeria?
+
In 2021, the average ink import price amounted to $5,975 per ton, with an increase of 2.4% against the previous year.

This report provides an in-depth analysis of the ink 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 20593000 - Inks (excluding printing ink)
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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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