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Report Nigeria - Casks, Barrels, Vats, Tubs, and Coopers Products of Wood - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Nigeria - Casks, Barrels, Vats, Tubs, and Coopers Products of Wood - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Wood Barrel Market 2024

Wood Barrel Market Size in Nigeria

The Nigerien wood barrel market expanded sharply to $X in 2022, with an increase of 5.3% against the previous year. Overall, consumption saw a prominent increase. Wood barrel consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Wood Barrel Production in Nigeria

In value terms, wood barrel production amounted to $X in 2022 estimated in export price. In general, production continues to indicate resilient growth. The growth pace was the most rapid in 2017 with an increase of 153% against the previous year. Wood barrel production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Wood Barrel Exports

Exports from Nigeria

In 2022, shipments abroad of casks, barrels, vats, tubs, and coopers products of wood decreased by 0% to X units, falling for the second year in a row after five years of growth. Over the period under review, exports showed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 20%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, wood barrel exports amounted to $X in 2022. In general, exports showed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 20% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Canada (X units) was the main destination for wood barrel exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2014 to 2022, the average annual growth rate of volume to Canada was relatively modest.

From 2014 to 2022, the average annual growth rate of value to Canada was relatively modest.

Export Prices by Country

The average wood barrel export price stood at $X per unit in 2022, leveling off at the previous year. Overall, the export price continues to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 0.1%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

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

From 2014 to 2022, the rate of growth in terms of prices for Ghana amounted to 0.0% per year.

Wood Barrel Imports

Imports into Nigeria

In 2022, after five years of growth, there was significant decline in purchases abroad of casks, barrels, vats, tubs, and coopers products of wood, when their volume decreased by -6.7% to X units. Overall, imports faced a abrupt contraction. The growth pace was the most rapid in 2018 when imports increased by 75% against the previous year. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, wood barrel imports dropped remarkably to $X in 2022. Over the period under review, imports recorded a abrupt decrease. The growth pace was the most rapid in 2020 with an increase of 166%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X units) constituted the largest wood barrel supplier to Nigeria, accounting for a 82% share of total imports. Moreover, wood barrel imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +36.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.2% per year) and the UK (0.0% per year).

In value terms, the United States ($X) constituted the largest supplier of casks, barrels, vats, tubs, and coopers products of wood to Nigeria, comprising 71% of total imports. The second position in the ranking was held by China ($X), with a 10% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +26.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+23.4% per year) and the UK (+13.9% per year).

Import Prices by Country

In 2022, the average wood barrel import price amounted to $X per unit, shrinking by -13.2% against the previous year. Over the period under review, the import price, however, posted a temperate increase. The pace of growth was the most pronounced in 2015 an increase of 150% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Africa ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+29.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of wood barrel consumption was China, accounting for 19% of total volume. Moreover, wood barrel consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by the UK, with an 8.7% share.
The country with the largest volume of wood barrel production was China, comprising approx. 24% of total volume. Moreover, wood barrel production in China exceeded the figures recorded by the second-largest producer, France, fourfold. Indonesia ranked third in terms of total production with a 5.2% share.
In value terms, the United States constituted the largest supplier of wood barrel to Nigeria, comprising 73% of total imports. The second position in the ranking was occupied by China $713), with a 21% share of total imports.
The average wood barrel export price stood at $14 per unit in 2020, remaining relatively unchanged against the previous year.
The average wood barrel import price stood at $3.6 per unit in 2021, waning by -24.6% against the previous year.

This report provides an in-depth analysis of the wood barrel 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:

  • Prodcom 16241200 - Casks, barrels, vats, tubs, and coopers products and parts thereof of wood (including staves)

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 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

  12. 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

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