Nigeria: Market for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms 2024

Market Size for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Nigeria

In 2022, after six years of growth, there was decline in the Nigerien market for polyethylene terephthalate and other polyethylene terephthalate in primary forms, when its value decreased by X% to $X. Overall, consumption enjoyed a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2021, and then fell in the following year.

Exports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Exports from Nigeria

In 2022, after two years of decline, there was significant growth in shipments abroad of polyethylene terephthalate and other polyethylene terephthalate in primary forms, when their volume increased by X% to X tons. Over the period under review, exports, however, continue to indicate a deep setback. The pace of growth was the most pronounced in 2015 when exports increased by X%. Over the period under review, the exports of reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2015 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons), the United States (X tons) and Cote d'Ivoire (X tons) were the main destinations of exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from Nigeria, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene terephthalate and other polyethylene terephthalate in primary forms exported from Nigeria were Cote d'Ivoire ($X), the United States ($X) and India ($X), together accounting for X% of total exports.

India, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for polyethylene terephthalate and other polyethylene terephthalate in primary forms stood at $X per ton in 2022, declining by X% against the previous year. In general, the export price recorded a abrupt curtailment. The growth pace was the most rapid in 2021 an increase of X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to India ($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 China (X%), while the prices for the other major destinations experienced a decline.

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Imports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Imports into Nigeria

Imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms into Nigeria stood at X tons in 2022, approximately reflecting 2021 figures. In general, imports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports of attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms declined modestly to $X in 2022. Overall, imports posted a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of X%. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest polyethylene terephthalate and other polyethylene terephthalate in primary forms supplier to Nigeria, accounting for a X% share of total imports. Moreover, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. Thailand (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Thailand (X% per year).

In value terms, China ($X) constituted the largest supplier of polyethylene terephthalate and other polyethylene terephthalate in primary forms to Nigeria, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Australia (X% per year).

Import Prices by Country

In 2022, the average import price for polyethylene terephthalate and other polyethylene terephthalate in primary forms amounted to $X per ton, which is down by X% against the previous year. Overall, the import price recorded a perceptible descent. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 Australia ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform