Nigeria: Paper And Paperboard Market 2024

Paper And Paperboard Market Size in Nigeria

In 2022, the Nigerien paper and paperboard market increased by 351% to $X, rising for the fourth consecutive year after three years of decline. Overall, consumption enjoyed a significant expansion. Paper and paperboard consumption peaked in 2022 and is likely to continue growth in years to come.

Paper And Paperboard Exports

Exports from Nigeria

In 2022, exports of paper and paperboard (creped, crinkled, embossed or perforated) from Nigeria skyrocketed to X kg, rising by 72% against 2021. Overall, exports, however, faced a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 835% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, paper and paperboard exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2015 when exports increased by 575%. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ghana (X kg), Niger (X kg) and Benin (X kg) were the main destinations of paper and paperboard exports from Nigeria, together accounting for 90% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of +44.8%), while the other leaders experienced a decline.

In value terms, Niger ($X) emerged as the key foreign market for paper and paperboard (creped, crinkled, embossed or perforated) exports from Nigeria, comprising 53% of total exports. The second position in the ranking was held by Ghana ($X), with a 25% share of total exports. It was followed by Benin, with a 20% share.

From 2012 to 2022, the average annual growth rate of value to Niger totaled -15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (+6.0% per year) and Benin (-26.0% per year).

Export Prices by Country

In 2022, the average paper and paperboard export price amounted to $X per ton, growing by 8% against the previous year. Overall, the export price, however, continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 when the average export price increased by 51%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per ton), while the average price for exports to Gambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+1.4%), while the prices for the other major destinations experienced a decline.

Paper And Paperboard Imports

Imports into Nigeria

In 2022, supplies from abroad of paper and paperboard (creped, crinkled, embossed or perforated) increased by 364% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 457%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, paper and paperboard imports skyrocketed to $X in 2022. In general, imports saw a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 455%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest paper and paperboard supplier to Nigeria, with a 65% share of total imports. Moreover, paper and paperboard imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. India (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia stood at +73.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.3% per year) and India (+24.8% per year).

In value terms, Indonesia ($X) constituted the largest supplier of paper and paperboard (creped, crinkled, embossed or perforated) to Nigeria, comprising 75% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by India, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia stood at +69.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.7% per year) and India (+13.7% per year).

Import Prices by Country

In 2022, the average paper and paperboard import price amounted to $X per ton, which is down by -5.4% against the previous year. Over the period under review, the import price recorded a pronounced decline. The most prominent rate of growth was recorded in 2016 when the average import price increased by 25% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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 Belgium ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+16.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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