In 2023, the import of compound plasticisers for rubber or plastic to Nigeria stood at 623.95 thousand US dollars. Starting in 2024, the forecasted data shows a continuous decline year-over-year: 2024 at 523.92 thousand US dollars, 2025 at 430.13 thousand US dollars, 2026 at 338.21 thousand US dollars, 2027 at 248.13 thousand US dollars, and 2028 at 159.86 thousand US dollars.
The annual percentage variations are as follows:
- 2024: -16.02%
- 2025: -17.89%
- 2026: -21.38%
- 2027: -26.62%
- 2028: -35.58%
Over the five-year period, the Compound Annual Growth Rate (CAGR) from 2023 to 2028 is -25.22%, indicating a substantial downward trend.
Future trends to watch for:
- Economic conditions affecting Nigeria's industrial production.
- Trade policies or tariffs impacting import costs.
- Substitution of imported plasticisers with local products.
- Technological advancements in rubber and plastic industries.
