Price for Fibres; Synthetic Filament Tow, of Polyesters in Nigeria - 2022
Contents:
- Price for Fibres; Synthetic Filament Tow, of Polyesters in Nigeria (CIF) - 2022
- Imports of Fibres; Synthetic Filament Tow, of Polyesters in Nigeria
Price for Fibres; Synthetic Filament Tow, of Polyesters in Nigeria (CIF) - 2022
The average import price for fibres; synthetic filament tow, of polyesterses stood at $2,765 per ton in 2022, jumping by 24% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.2% 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 fibres; synthetic filament tow, of polyesterses increased by +119.5% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 67%. The import price peaked in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Africa ($4,632 per ton), while the price for China ($1,460 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Fibres; Synthetic Filament Tow, of Polyesters in Nigeria
In 2022, imports of fibres; synthetic filament tow, of polyesterses into Nigeria contracted remarkably to 412 tons, with a decrease of -28.6% compared with 2021. In general, imports saw a abrupt slump. The growth pace was the most rapid in 2021 when imports increased by 11% against the previous year. As a result, imports reached the peak of 577 tons, and then contracted notably in the following year.
In value terms, imports of fibres; synthetic filament tow, of polyesterses shrank to $1.1M in 2022. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +16.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.7% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 54%.
| Import of Fibres; Synthetic Filament Tow, of Polyesters in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | N/A | N/A | N/A | 802 | 0% |
| China | 503 | 249 | 207 | 287 | -17.1% |
| South Africa | 137 | 579 | 631 | 49.0 | -29.0% |
| South Korea | 70.6 | 135 | 22.9 | N/A | -43.0% |
| United Kingdom | N/A | 105 | 417 | N/A | 297.1% |
| Others | 2.5 | 26.8 | 6.7 | N/A | 63.7% |
| Total | 713 | 1,095 | 1,285 | 1,138 | 16.9% |
Top Suppliers of Fibres; Synthetic Filament Tow, of Polyesters to Nigeria in 2022:
- Turkey (204.4 tons)
- China (196.7 tons)
- South Africa (10.6 tons)
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