Analysis of Polyethylene Market in Nigeria, Forecast to 2023

Analysis of Polyethylene Market in Nigeria, Forecast to 2023

Market Stability Driven by Economic Recovery, Expansion of Virgin Polymer Capacity, and Growth in End-use Industries; Focus on Environment-friendly and Sustainable Product Offerings

RELEASE DATE
11-Dec-2019
REGION
South Asia, Middle East & North Africa
Research Code: 9AB4-00-2B-00-00
SKU: CM01737-SA-MR_23867

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Description

In this analysis, the Nigerian PE market is bifurcated by analyzing the supply-side and demand-side dynamics. From a supply standpoint, the local PE manufacturing industry is consolidated with one PE manufacturer. The local PE manufacturer, IEPL, supplies 47% of local demand, and the remaining 53% is supplied through imports.

However, from demand perspective, the converter market generally ranges from small extrusion converters to big multinational injection molding converters. The conversion industry is fragmented with increased participation of foreign companies. The PE downstream applications can be segmented as blow molding, rotational molding, injection molding, film, coatings, and pipe & sheet applications. The various industries utilizing these downstream applications include consumer goods, medical and pharma, packaging, automotive, and construction, among others. Local converters generally source PE from both local suppliers and through imports due to the limited availability of locally produced polymers. On average, converters source 40.0% of their polymer feedstock locally and 60.0% through imports. It is assumed that the larger converter companies are more likely to source raw PE polymers from both local and global suppliers due to local PE feedstock constraints. The local packaging industry is the largest consumer of polyethylene and, therefore, the largest contributor to the economic growth. It encompasses many industries ranging from agriculture to cosmetics and further plays a role in virtually all other industries by means of application in the transport of end products. Based on drivers and restraints and the country’s GDP growth rate, which is expected to grow from 2.3% in 2019 to 2.4% in 2023, the PE market size growth rate is likely to increase from 4.5% in 2019 to 6.4% in 2023. In terms of material and product development, functionality and performance are key Mega Trends; these are the two top qualities that customers across industries seek. End-user industries, such as electrical and electronics, automotive, and construction are constantly evolving, leading to requirement for technically and functionally superior performance. Engineering plastics are increasingly feeling the pressure from high-performance polymers in new applications. The global plastics market is reeling under the weight of regulations for health hazards and emissions. With rising public consciousness, Nigeria is making strides with greener alternatives. Bio-based alternatives are now gaining ground. For instance, the Council of Science for Scientific and Industrial Research has developed a 100% biodegradable carrier bag made from maize and sugar cane by-products.

RESEARCH: INFOGRAPHIC

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Table of Contents

Key Findings

Key Questions This Study Will Answer

Scope of Study

PE Grades by Demand Application Processing

Macro Overview—Nigeria

Macro Overview—Nigeria (continued)

Macro Overview—Nigeria (continued)

Market Opportunities

Market Opportunities (continued)

Key Sectors Affecting PE Market

Key Sectors Affecting PE Market (continued)

Key Sectors Affecting PE Market (continued)

Key Sectors Affecting PE Market (continued)

Key Sectors Affecting PE Market (continued)

Market Drivers

Drivers Explained

Market Restraints

Restraints Explained

PE Value Chain

PE Value Chain Explained

PE Market Size

PE Trade by Volume

PE Trade by Value

PE Production Capacity

Polymer Application—Nigeria

Film Grades—Nigeria

Injection Molding Grades—Nigeria

Blow & Rotational Molding Grades—Nigeria

Pipe, Raffia, and Lamination Grades—Nigeria

PE Competitive Environment

PE Competitive Environment Assessment

Top Market Participant—Demand Side

Top Market Participant—Demand Side (continued)

Top Market Participant—Demand Side (continued)

Top Market Participant—Demand Side (continued)

Top Market Participant—Demand Side (continued)

Top Market Participant—Demand Side (continued)

Top Market Participant—Demand Side (continued)

Industry Application

Top HDPE Industry Participants

Top LLDPE Industry Participants

Top HDPE Market Participants

Top LLDPE Market Participants

Raw Polymer Supply Chain

Raw Polymer Supply Chain Discussion

Global Position

PE Market Forecast Explained

PE—Volume Forecast

PE—Volume and Value Forecast

Growth Opportunity 1—Product Development to Capture New Application Markets and Product Differentiation

Growth Opportunity 2—Environment-friendly and Sustainable Product Offerings

Strategic Imperatives for PE Manufacturers and Converters

The Last Word—3 Big Predictions

Legal Disclaimer

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition: Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
In this analysis, the Nigerian PE market is bifurcated by analyzing the supply-side and demand-side dynamics. From a supply standpoint, the local PE manufacturing industry is consolidated with one PE manufacturer. The local PE manufacturer, IEPL, supplies 47Percentage of local demand, and the remaining 53Percentage is supplied through imports. However, from demand perspective, the converter market generally ranges from small extrusion converters to big multinational injection molding converters. The conversion industry is fragmented with increased participation of foreign companies. The PE downstream applications can be segmented as blow molding, rotational molding, injection molding, film, coatings, and pipe & sheet applications. The various industries utilizing these downstream applications include consumer goods, medical and pharma, packaging, automotive, and construction, among others. Local converters generally source PE from both local suppliers and through imports due to the limited availability of locally produced polymers. On average, converters source 40.0Percentage of their polymer feedstock locally and 60.0Percentage through imports. It is assumed that the larger converter companies are more likely to source raw PE polymers from both local and global suppliers due to local PE feedstock constraints. The local packaging industry is the largest consumer of polyethylene and, therefore, the largest contributor to the economic growth. It encompasses many industries ranging from agriculture to cosmetics and further plays a role in virtually all other industries by means of application in the transport of end products. Based on drivers and restraints and the country’s GDP growth rate, which is expected to grow from 2.3Percentage in 2019 to 2.4Percentage in 2023, the PE market size growth rate is likely to increase from 4.5Percentage in 2019 to 6.4Percentage in 2023. In terms of material and product development, functionality and performance are key Mega Trends; these are the two top qualities that customers across industries seek. End-user industries, such as electrical and electronics, automotive, and construction are constantly evolving, leading to requirement for technically and functionally superior performance. Engineering plastics are increasingly feeling the pressure from high-performance polymers in new applications. The global plastics market is reeling under the weight of regulations for health hazards and emissions. With rising public consciousness, Nigeria is making strides with greener alternatives. Bio-based alternatives are now gaining ground. For instance, the Council of Science for Scientific and Industrial Research has developed a 100Percentage biodegradable carrier bag made from maize and sugar cane by-products.
More Information
No Index No
Podcast No
Author Prathmesh Limaye
Industries Chemicals and Materials
WIP Number 9AB4-00-2B-00-00
Is Prebook No
GPS Codes 9100-A2,9595