Nigeria: Market for Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning 2024

Market Size for Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning in Nigeria

The Nigerien market for other synthetic tow and staple not carded, combed or otherwise processed for spinning soared to $X in 2022, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a slight curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Exports of Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning

Exports from Nigeria

In 2022, overseas shipments of other synthetic tow and staple not carded, combed or otherwise processed for spinning decreased by X% to X tons, falling for the fourth year in a row after five years of growth. Over the period under review, exports, however, showed a strong expansion. The growth pace was the most rapid in 2018 with an increase of X%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of other synthetic tow and staple not carded, combed or otherwise processed for spinning contracted modestly to $X in 2022. Overall, exports, however, saw strong growth. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Kenya (X tons) was the main destination for exports of other synthetic tow and staple not carded, combed or otherwise processed for spinning from Nigeria, with a X% share of total exports. Moreover, exports of other synthetic tow and staple not carded, combed or otherwise processed for spinning to Kenya exceeded the volume sent to the second major destination, Canada (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Kenya totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and South Africa (X% per year).

In value terms, Kenya ($X) emerged as the key foreign market for other synthetic tow and staple not carded, combed or otherwise processed for spinning exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by South Africa ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Kenya totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (X% per year) and Canada (X% per year).

Export Prices by Country

In 2022, the average export price for other synthetic tow and staple not carded, combed or otherwise processed for spinning amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, recorded a noticeable slump. The pace of growth appeared the most rapid in 2019 when the average export price increased by X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to Kenya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (X%), while the prices for the other major destinations experienced a decline.

Imports of Other Synthetic Tow And Staple Not Carded, Combed Or Otherwise Processed For Spinning

Imports into Nigeria

In 2022, purchases abroad of other synthetic tow and staple not carded, combed or otherwise processed for spinning decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of other synthetic tow and staple not carded, combed or otherwise processed for spinning skyrocketed to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of other synthetic tow and staple not carded, combed or otherwise processed for spinning to Nigeria, accounting for a X% share of total imports. Moreover, imports of other synthetic tow and staple not carded, combed or otherwise processed for spinning from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of other synthetic tow and staple not carded, combed or otherwise processed for spinning to Nigeria, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at X%.

Import Prices by Country

In 2022, the average import price for other synthetic tow and staple not carded, combed or otherwise processed for spinning amounted to $X per ton, jumping by X% against the previous year. Overall, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for other synthetic tow and staple not carded, combed or otherwise processed for spinning increased by X% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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