Nigeria: Fiberboard Market 2025

Fiberboard Market Size in Nigeria

In 2022, the Nigerien fiberboard market decreased by -21.9% to $X, falling for the third year in a row after five years of growth. Over the period under review, consumption, however, posted a moderate increase. Fiberboard consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Fiberboard Exports

Exports from Nigeria

In 2022, after three years of growth, there was significant decline in shipments abroad of fiber board of wood or other ligneous materials, when their volume decreased by -33% to X cubic meters. Over the period under review, exports showed a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 3,406%. Over the period under review, the exports reached the maximum at X cubic meters in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, fiberboard exports declined remarkably to $X in 2022. Overall, exports saw a abrupt slump. The pace of growth appeared the most rapid in 2016 when exports increased by 1,899%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Benin (X cubic meters) was the main destination for fiberboard exports from Nigeria, accounting for a 94% share of total exports. Moreover, fiberboard exports to Benin exceeded the volume sent to the second major destination, Niger (X cubic meters), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Benin amounted to -1.4%.

In value terms, Benin ($X) emerged as the key foreign market for fiber board of wood or other ligneous materials exports from Nigeria, comprising 76% of total exports. The second position in the ranking was held by Niger ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Benin was relatively modest.

Export Prices by Country

In 2022, the average fiberboard export price amounted to $X per cubic meter, increasing by 5.5% against the previous year. In general, the export price, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2013 when the average export price increased by 70%. As a result, the export price reached the peak level of $X per cubic meter. From 2014 to 2022, the average export prices failed to regain momentum.

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 cubic meter), while the average price for exports to Benin totaled $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+14.5%), while the prices for the other major destinations experienced mixed trend patterns.

Fiberboard Imports

Imports into Nigeria

In 2022, overseas purchases of fiber board of wood or other ligneous materials decreased by -18.4% to X cubic meters, falling for the third year in a row after five years of growth. Overall, imports, however, enjoyed a modest expansion. The growth pace was the most rapid in 2017 when imports increased by 102% against the previous year. Imports peaked at X cubic meters in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, fiberboard imports shrank significantly to $X in 2022. Over the period under review, imports, however, recorded a pronounced expansion. The most prominent rate of growth was recorded in 2017 with an increase of 97%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X cubic meters) constituted the largest fiberboard supplier to Nigeria, with a 56% share of total imports. Moreover, fiberboard imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X cubic meters), sixfold. The third position in this ranking was taken by Argentina (X cubic meters), with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+11.0% per year) and Argentina (+24.4% per year).

In value terms, China ($X) constituted the largest supplier of fiber board of wood or other ligneous materials to Nigeria, comprising 60% of total imports. The second position in the ranking was taken by Thailand ($X), with an 11% share of total imports. It was followed by Antigua and Barbuda, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-5.0% per year) and Antigua and Barbuda (+18.9% per year).

Import Prices by Country

In 2022, the average fiberboard import price amounted to $X per cubic meter, shrinking by -8.8% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fiberboard import price increased by +62.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 73% against the previous year. Over the period under review, average import prices attained the maximum at $X per cubic meter in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per cubic meter), while the price for Brazil ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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