Nigeria: Market for Building Blocks And Bricks Of Cement, Concrete Or Artificial Stone 2024

Market Size for Building Blocks And Bricks Of Cement, Concrete Or Artificial Stone in Nigeria

The Nigerien market for building blocks and bricks of cement, concrete or artificial stone skyrocketed to $X in 2021, surging by 259% 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 continues to indicate a significant expansion. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in years to come.

Exports of Building Blocks And Bricks Of Cement, Concrete Or Artificial Stone

Exports from Nigeria

In 2021, after three years of growth, there was significant decline in overseas shipments of building blocks and bricks of cement, concrete or artificial stone, when their volume decreased by -21.2% to X tons. Overall, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 703%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, exports of building blocks and bricks of cement, concrete or artificial stone shrank markedly to $X in 2021. Over the period under review, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,458%. Over the period under review, the exports of hit record highs at $X in 2020, and then shrank significantly in the following year.

Exports by Country

Benin (X tons) was the main destination for exports of building blocks and bricks of cement, concrete or artificial stone from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Benin totaled +53.1%.

In value terms, Benin ($X) emerged as the key foreign market for building blocks and bricks of cement, concrete or artificial stone exports from Nigeria.

From 2012 to 2021, the average annual rate of growth in terms of value to Benin amounted to +71.1%.

Export Prices by Country

In 2021, the average export price for building blocks and bricks of cement, concrete or artificial stone amounted to $X per ton, approximately reflecting the previous year. In general, the export price, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2013 an increase of 94%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then contracted in the following year.

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

From 2012 to 2021, the rate of growth in terms of prices for Benin amounted to +11.7% per year.

Imports of Building Blocks And Bricks Of Cement, Concrete Or Artificial Stone

Imports into Nigeria

In 2021, approx. X tons of building blocks and bricks of cement, concrete or artificial stone were imported into Nigeria; with an increase of 243% against the previous year's figure. In general, imports saw a significant expansion. The growth pace was the most rapid in 2016 with an increase of 1,323%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, imports of building blocks and bricks of cement, concrete or artificial stone skyrocketed to $X in 2021. Overall, imports recorded a significant increase. The pace of growth was the most pronounced in 2014 when imports increased by 888% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of building blocks and bricks of cement, concrete or artificial stone to Nigeria, accounting for a 62% share of total imports. Moreover, imports of building blocks and bricks of cement, concrete or artificial stone from Italy exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. South Africa (X tons) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume from Italy totaled +184.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+72.6% per year) and South Africa (+11.6% per year).

In value terms, Italy ($X) constituted the largest supplier of building blocks and bricks of cement, concrete or artificial stone to Nigeria, comprising 65% of total imports. The second position in the ranking was held by China ($X), with a 19% share of total imports. It was followed by South Africa, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value from Italy stood at +139.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+67.7% per year) and South Africa (+20.7% per year).

Import Prices by Country

In 2021, the average import price for building blocks and bricks of cement, concrete or artificial stone amounted to $X per ton, surging by 17% against the previous year. Over the period under review, the import price, however, recorded a pronounced contraction. The pace of growth was the most pronounced in 2014 an increase of 114%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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