Nigeria - Synthetic Latex Rubber - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Synthetic Latex Rubber Market 2024
Synthetic Latex Rubber Market Size in Nigeria
The Nigerien synthetic latex rubber market expanded modestly to $X in 2022, with an increase of X% against the previous year. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2022: its value 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, consumption decreased by X% against 2020 indices. Synthetic latex rubber consumption peaked at $X in 2020; afterwards, it flattened through to 2022.
Synthetic Latex Rubber Production in Nigeria
In value terms, synthetic latex rubber production expanded to $X in 2022 estimated in export price. Overall, the total production indicated a tangible expansion from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.
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Synthetic Latex Rubber Exports
Exports from Nigeria
In 2016, the amount of synthetic latex rubber exported from Nigeria surged to X tons, increasing by X% compared with the previous year's figure. Overall, exports, however, continue to indicate a perceptible descent. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2016, the exports remained at a lower figure.
In value terms, synthetic latex rubber exports skyrocketed to $X in 2016. In general, exports, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2016, the exports remained at a lower figure.
Exports by Country
Gambia (X tons) was the main destination for synthetic latex rubber exports from Nigeria, accounting for a X% share of total exports. Moreover, synthetic latex rubber exports to Gambia exceeded the volume sent to the second major destination, Cote d'Ivoire (X tons), sevenfold.
From 2012 to 2016, the average annual rate of growth in terms of volume to Gambia totaled X%.
In value terms, Cote d'Ivoire ($X) emerged as the key foreign market for synthetic latex rubber exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Gambia ($X), with a X% share of total exports.
From 2012 to 2016, the average annual rate of growth in terms of value to Cote d'Ivoire stood at X%.
Export Prices by Country
The average synthetic latex rubber export price stood at $X per ton in 2016, dropping by X% against the previous year. Overall, the export price recorded a noticeable setback. The pace of growth was the most pronounced in 2013 when the average export price decreased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2016, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2016, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Gambia totaled $X per ton.
From 2012 to 2016, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (X%), while the prices for the other major destinations experienced a decline.
Synthetic Latex Rubber Imports
Imports into Nigeria
Synthetic latex rubber imports into Nigeria soared to X tons in 2022, jumping by X% compared with the year before. Over the period under review, imports, however, recorded a deep setback. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.
In value terms, synthetic latex rubber imports surged to $X in 2022. In general, imports, however, continue to indicate a abrupt decrease. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.
Imports by Country
India (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of synthetic latex rubber imports to Nigeria, together comprising X% of total imports.
From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest synthetic latex rubber suppliers to Nigeria were Germany ($X), India ($X) and China ($X), together comprising X% of total imports.
Among the main suppliers, India, with a CAGR of X%, recorded the highest rates of growth with regard to 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
In 2022, the average synthetic latex rubber import price amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for India ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the synthetic latex rubber 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 20171050 - Synthetic latex rubber
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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