Price for Waste, Parings and Scrap, of Plastics in Nigeria - 2022

Contents:

1. Price for Waste, Parings and Scrap, of Plastics in Nigeria (FOB) - 2022
2. Price for Waste, Parings and Scrap, of Plastics in Nigeria (CIF) - 2022
3. Exports of Waste, Parings and Scrap, of Plastics in Nigeria
4. Imports of Waste, Parings and Scrap, of Plastics in Nigeria

Price for Waste, Parings and Scrap, of Plastics in Nigeria (FOB) - 2022

The average export price for waste, parings and scrap, of plasticses stood at $791 per ton in June 2022, growing by 18% against the previous month. Overall, the export price continues to indicate strong growth. The most prominent rate of growth was recorded in July 2021 when the average export price increased by 279% m-o-m. As a result, the export price reached the peak level of $937 per ton. From August 2021 to June 2022, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In June 2022, the country with the highest price was Slovenia ($1,167 per ton), while the average price for exports to India ($119 per ton) was amongst the lowest.

From June 2021 to June 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+24.4%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Waste, Parings and Scrap, of Plastics in Nigeria (CIF) - 2022

The average import price for waste, parings and scrap, of plasticses stood at $1,089 per ton in 2022, picking up by 34% against the previous year. In general, the import price, however, recorded a mild slump. The growth pace was the most rapid in 2018 an increase of 76%. The import price peaked at $1,227 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($1,588 per ton), while the price for Vietnam ($797 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Waste, Parings and Scrap, of Plastics in Nigeria

Exports of waste, parings and scrap, of plasticses from Nigeria totaled 18K tons in 2022, picking up by 7.3% compared with 2021. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 491% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, exports of waste, parings and scrap, of plasticses soared to $11M in 2022. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 857%. Over the period under review, the exports of reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Top Export Markets for Waste, Parings and Scrap, of Plastics from Nigeria in 2022:

1. United Kingdom (3.6K tons)
2. United States (3.0K tons)
3. Spain (2.5K tons)
4. Ireland (1.5K tons)
5. Turkey (1.2K tons)
6. Germany (1.2K tons)
7. Belgium (0.8K tons)
8. Portugal (0.7K tons)
9. Egypt (0.5K tons)
10. Ecuador (0.5K tons)
11. India (0.3K tons)
12. Slovenia (0.3K tons)
13. China (0.3K tons)

Imports of Waste, Parings and Scrap, of Plastics in Nigeria

For the third year in a row, Nigeria recorded decline in supplies from abroad of waste, parings and scrap, of plasticses, which decreased by -5.4% to 4K tons in 2022. Overall, imports recorded a sharp curtailment.

In value terms, imports of waste, parings and scrap, of plasticses skyrocketed to $4.4M in 2022. In general, imports recorded a significant decline.

Top Suppliers of Waste, Parings and Scrap, of Plastics to Nigeria in 2022:

1. Thailand (2347.6 tons)
2. China (945.1 tons)
3. Vietnam (310.3 tons)
4. India (164.9 tons)
5. Hong Kong SAR (70.8 tons)
6. United States (1.0 tons)

Source: IndexBox Market Intelligence Platform