Report Update Nov 1, 2024

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

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Nigeria: Asbestos Market 2024

Asbestos Market Size in Nigeria

The Nigerien asbestos market reduced sharply to $X in 2022, waning by -54% against the previous year. In general, consumption faced a sharp curtailment. Asbestos consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Asbestos Production in Nigeria

In value terms, asbestos production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 20% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Asbestos Exports

Exports from Nigeria

After two years of decline, overseas shipments of asbestoses increased by 74% to X tons in 2022. In general, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2014 with an increase of 497%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, asbestos exports soared to $X in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 730% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Niger (X tons) was the main destination for asbestos exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Niger totaled +43.5%.

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

From 2012 to 2022, the average annual growth rate of value to Niger stood at +24.4%.

Export Prices by Country

In 2022, the average asbestos export price amounted to $X per ton, declining by -28.4% against the previous year. Over the period under review, the export price saw a abrupt contraction. The growth pace was the most rapid in 2017 an increase of 62% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Niger amounted to -13.3% per year.

Asbestos Imports

Imports into Nigeria

For the sixth consecutive year, Nigeria recorded decline in overseas purchases of asbestoses, which decreased by -12.2% to X tons in 2022. Over the period under review, imports continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 371% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, asbestos imports reached $X in 2022. Overall, imports saw a sharp decrease. The pace of growth appeared the most rapid in 2014 with an increase of 355% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the UK (X tons) was the main asbestos supplier to Nigeria, accounting for a 91% share of total imports. Moreover, asbestos imports from the UK exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was held by Brazil (X tons), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK stood at -19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-35.5% per year) and Brazil (-48.7% per year).

In value terms, the UK ($X) constituted the largest supplier of asbestoses to Nigeria, comprising 88% of total imports. The second position in the ranking was held by Russia ($X), with a 5.4% share of total imports. It was followed by Brazil, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value from the UK stood at -13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-36.6% per year) and Brazil (-44.5% per year).

Import Prices by Country

In 2022, the average asbestos import price amounted to $X per ton, growing by 15% against the previous year. Over the period under review, the import price showed a prominent increase. The pace of growth was the most pronounced in 2020 an increase of 29%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

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 Russia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+24.6%), while the prices for the other major suppliers experienced more modest paces of growth.

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 2030.

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