NIGERIA PLASTIC MARKET

Nigeria plastic market is estimated to attain a CAGR of 7.1% during the forecast years 2024-2031 due to the surge in plastic consumption coupled with the growing population.

Major Market Drivers and Emerging Trends

Nigeria plastic market size expansion is driven by factors such as urbanization, industrial development and changing consumer behaviors. Additionally the rising demand in packaging and automotive sectors has led to a higher plastic consumption in Nigeria. The UN reports a 116 percent increase in plastic consumption in the country surging to 1.25 million tons in 2022 in comparison to only 578,000 tons back in 2017. Additionally, population in the country is expected to soar to 411 million in 2050 according to the United Nations which further propels Nigeria plastics market growth.

Nigeria stands as the only producer of raw plastic resin in West Africa’s coastal regions as stated in a report from WACA programme sponsored by the World Bank. The country also leads Africa in oil production with the gas and oil sectors making up roughly 10% of the GDP.

However, the country faces considerable difficulties in managing solid waste especially plastic due to insufficient infrastructure and other contributing challenges. Nigeria is a major contributor to global plastic pollution with more than 2.5 million tonnes in discarded plastic produced annually.

The government has therefore introduced initiatives that encourage the waste recycling industry to address the rising need to lower carbon footprints from excessive plastic use. For example, the government launched plastic waste processing plants in 26 key cities in 2019. The National Policy on Plastic Waste Management was also introduced to drive improvements in resource efficiency and ensure environmental protection. The government is further developing a document with viable standards to ensure that recyclers follow regulations and process plastic waste safely.

Nigeria is the most recent African country to combat the global plastic pollution issue by banning single use plastics. Fossil fuels are used to produce single use plastics while the manufacturing process releases considerable greenhouse emissions. Even though the ban brings environmental gains, it is being criticized in the country which has a high reliance on plastics.

Based on type, the adoption of polyethylene terephthalate especially in bottles and packaging has grown substantially. PET bottle demand in Nigeria has surpassed 500,000 metric tons each year mainly driven by the carbonated drinks and bottled water. PET is a versatile resin and a type of polyester commonly marked with a specific code on the bottom of bottles and containers to indicate its broad application in packaging. It stands out for its strength and thermal stability. It also has gas barrier capabilities and transparency which makes it highly versatile. The significant expenses along with supply chain hurdles related to imported PET present a chance for local manufacturers to step in. This provides the opportunity to manufacture PET bottles designed specifically for the unique needs of customers in different industries.

Based on end-use industry, packaging represents the largest portion of plastic consumption in the country. Data from 2020 shows that 54% of the plastic consumed in Nigeria was used for packaging purposes. Additionally, the construction sector accounted for 16% of plastic consumption which makes it the second largest segment in the market.

Top Market Players

Various notable players in the market are Geeta Plastic, Quantum Plastic Nigeria, Dow, Sunplast, among others.

Key Developments

• • In 2024, the Plastic Recycling France Nigeria initiative funded by the FEF is designed to involve two universities in the country in plastic recycling efforts. The initiative plans to establish two mini recycling facilities within the university campuses which aims to develop a recycling process suited to local requirements.
  • In 2024, the USAID and the Coca Cola Foundation have partnered to tackle the plastic waste issue in Nigeria. These organizations rolled out the Nigeria Plastic Solutions Activity which is a USD 4 million project to introduce advanced recycling solutions to manage plastic waste in the country.
  • In 2023 Nestle Nigeria set a goal to incorporate 50% recycled PET for its bottled water products align with its commitment for the environment. This significant step highlights its ongoing efforts to create a more sustainable world.

Segments covered in the Report:

The Nigeria Plastic Market has been segmented on the basis of type and end-use industry. Based on the type, the market is segmented into polypropylene, polyethylene, polyvinyl chloride, polyethylene terephthalate, polycarbonate, polyamide, polystyrene, polyurethane and others. Based on the end-use industry, the market is segmented into automotive & transportation, packaging, consumer goods, infrastructure & construction, healthcare & pharmaceuticals, electrical & electronics, others.

Market Segmentation

Nigeria Plastic Market by Type

• • Polyethylene
  • Polypropylene
  • Polyethylene Terephthalate
  • Polyvinyl Chloride
  • Polyamide
  • Polycarbonate
  • Polyurethane
  • Polystyrene
  • Others

Nigeria Plastic Market by End-Use Industry 

• • Packaging
  • Automotive & Transportation
  • Infrastructure & Construction
  • Consumer Goods
  • Healthcare & Pharmaceuticals
  • Electrical & Electronics
  • Others

Nigeria Plastic Market Leading players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Geeta Plastic
  • Quantum Plastic Nigeria
  • Dow
  • Sunplast