Nigeria: Market for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like 2024

Market Size for Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like in Nigeria

The Nigerien articles of fiber cement market expanded modestly to $X in 2022, increasing by 1.9% against the previous year. Over the period under review, consumption, however, saw a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like in Nigeria

In value terms, articles of fiber cement production amounted to $X in 2022 estimated in export price. In general, production, however, showed a perceptible decrease. The pace of growth was the most pronounced in 2016 when the production volume increased by 39%. Articles of fiber cement production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Exports from Nigeria

In 2022, overseas shipments of articles of asbestos-cement, cellulose fiber-cement or the like increased by 13% to X tons, rising for the fourth consecutive year after two years of decline. In general, exports, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2014 when exports increased by 100%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, articles of fiber cement exports expanded sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2014 with an increase of 49% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Togo (X tons) was the main destination for articles of fiber cement exports from Nigeria, accounting for a 67% share of total exports. Moreover, articles of fiber cement exports to Togo exceeded the volume sent to the second major destination, Benin (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Togo amounted to -5.8%.

In value terms, Togo ($X) remains the key foreign market for articles of asbestos-cement, cellulose fiber-cement or the like exports from Nigeria, comprising 71% of total exports. The second position in the ranking was taken by Benin ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Togo totaled -7.4%.

Export Prices by Country

In 2022, the average articles of fiber cement export price amounted to $X per ton, waning by -3% against the previous year. In general, the export price faced a abrupt decline. The pace of growth appeared the most rapid in 2017 an increase of 11% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Togo ($X per ton), while the average price for exports to Benin totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+121.6%), while the prices for the other major destinations experienced a decline.

Imports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Imports into Nigeria

In 2022, imports of articles of asbestos-cement, cellulose fiber-cement or the like into Nigeria was estimated at X tons, increasing by 7% against 2021. In general, imports recorded strong growth. The most prominent rate of growth was recorded in 2013 when imports increased by 144%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, articles of fiber cement imports skyrocketed to $X in 2022. Overall, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 134% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Thailand (X tons) and Israel (X tons) were the main suppliers of articles of fiber cement imports to Nigeria, together accounting for 76% of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +51.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Israel ($X) and Thailand ($X) were the largest articles of fiber cement suppliers to Nigeria, with a combined 40% share of total imports.

Thailand, with a CAGR of +55.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average articles of fiber cement import price stood at $X per ton in 2022, surging by 39% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+23.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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