Report Update Nov 1, 2024

Nigeria - Asbestos - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Asbestos Market 2022

Asbestos Market Size in Nigeria

The Nigerien asbestos market dropped remarkably to $X in 2020, waning by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a deep setback. The pace of growth was the most pronounced in 2014 when the market value increased by X% year-to-year. Over the period under review, the market attained the peak level at $X in 2011; however, from 2012 to 2020, consumption stood at a somewhat lower figure.

Asbestos Exports

Exports from Nigeria

In 2020, shipments abroad of asbestos increased by X% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports enjoyed a strong increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, exports attained the peak of X tons. from 2015 to 2020, the growth exports remained at a lower figure.

In value terms, asbestos exports dropped to $X in 2020. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% y-o-y. As a result, exports reached the peak of $X. from 2015 to 2020, the growth exports remained at a lower figure.

Exports by Country

Niger (X tons) was the main destination for asbestos exports from Nigeria, accounting for a approx. X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of volume to Niger amounted to +X%.

In value terms, Niger ($X) also remains the key foreign market for asbestos exports from Nigeria.

From 2007 to 2020, the average annual growth rate of value to Niger totaled +X%.

Export Prices by Country

In 2020, the average asbestos export price amounted to $X per ton, which is down by -X% against the previous year. In general, the export price, however, recorded a prominent increase. The growth pace was the most rapid in 2017 when the average export price increased by X% y-o-y. Over the period under review, average export prices hit record highs at $X per ton in 2019, and then contracted dramatically in the following year.

As there is only one major export destination, the average price level is determined by prices for Niger.

From 2007 to 2020, the rate of growth in terms of prices for Niger amounted to +X% per year.

Asbestos Imports

Imports into Nigeria

For the fourth consecutive year, Nigeria recorded decline in purchases abroad of asbestos, which decreased by -X% to X tons in 2020. Over the period under review, imports faced a abrupt downturn. The growth pace was the most rapid in 2014 with an increase of X% y-o-y. As a result, imports reached the peak of X tons. from 2015 to 2020, the growth imports remained at a somewhat lower figure.

In value terms, asbestos imports fell notably to $X in 2020. In general, imports showed a deep reduction. The most prominent rate of growth was recorded in 2014 when imports increased by X% y-o-y. Over the period under review, imports hit record highs at $X in 2011; however, from 2012 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, China (X tons) was the main asbestos supplier to Nigeria, with a X% share of total imports. Moreover, asbestos imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2007 to 2020, the average annual growth rate of volume from China amounted to +X%.

In value terms, China ($X) constituted the largest supplier of asbestos to Nigeria, comprising X% of total imports. The second position in the ranking was occupied by India ($X), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of value from China stood at +X%.

Import Prices by Country

In 2020, the average asbestos import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price posted a strong expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% y-o-y. Over the period under review, average import prices attained the maximum in 2020 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was China ($X per ton), while the price for India amounted to $X per ton.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for asbestos in the world?

The countries with the highest volumes of in 2021 were India, China and Russia, with a combined 56% share of global consumption. These countries were followed by Maldives, Indonesia, Uzbekistan, Iran, Sri Lanka, Thailand, Vietnam, Kazakhstan and Bangladesh, which together accounted for a further 34%.

What are the largest producers of asbestos in the world?

Russia remains the largest asbestos producing country worldwide, comprising approx. 55% of total volume. Moreover, asbestos production in Russia exceeded the figures recorded by the second-largest producer, Kazakhstan, threefold. The third position in this ranking was occupied by Brazil, with an 11% share.

What are the leading suppliers of asbestos to Nigeria?

In value terms, the UK constituted the largest supplier of asbestos to Nigeria, comprising 85% of total imports. The second position in the ranking was occupied by Russia, with a 6.8% share of total imports. It was followed by Brazil, with a 4.6% share.

What are the leading importers of asbestos from Nigeria?

In value terms, Niger remains the key foreign market for asbestos exports from Nigeria.

What is the average export price for asbestos in Nigeria?

The average asbestos export price stood at $3,283 per ton in 2021, leveling off at the previous year.

What is the average import price for asbestos in Nigeria?

The average asbestos import price stood at $807 per ton in 2021, therefore, remained relatively stable against the previous year.

This report provides an in-depth analysis of the asbestos market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.

Product coverage:

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023