Nigeria: Organic Pigments Market 2024

Organic Pigments Market Size in Nigeria

In 2022, the Nigerien organic pigments market decreased by X% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, posted a mild increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Organic Pigments Exports

Exports from Nigeria

In 2022, approx. X tons of synthetic organic coloring matter and pigments were exported from Nigeria; which is down by X% on the previous year's figure. Over the period under review, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, organic pigments exports reduced sharply to $X in 2022. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2015 when exports increased by X%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Benin (X tons) was the main destination for organic pigments exports from Nigeria, with a X% share of total exports. Moreover, organic pigments exports to Benin exceeded the volume sent to the second major destination, Israel (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to Benin stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (X% per year) and Burkina Faso (X% per year).

In value terms, Israel ($X) emerged as the key foreign market for synthetic organic coloring matter and pigments exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Benin ($X), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Israel was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

The average organic pigments export price stood at $X per ton in 2021, falling by X% against the previous year. Overall, the export price saw a abrupt descent. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, 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 Israel ($X per ton), while the average price for exports to Benin ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Organic Pigments Imports

Imports into Nigeria

In 2022, supplies from abroad of synthetic organic coloring matter and pigments decreased by X% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, posted a mild increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, organic pigments imports soared to $X in 2022. Overall, total imports indicated a measured increase 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, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by X%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

India (X tons), China (X tons) and South Africa (X tons) were the main suppliers of organic pigments imports to Nigeria, together accounting for X% of total imports.

From 2012 to 2021, the biggest increases were recorded for South Africa (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of synthetic organic coloring matter and pigments to Nigeria, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2021, the average organic pigments import price amounted to $X per ton, shrinking by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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