Nigeria: Vulcanised Rubber Mats Market 2024

Vulcanised Rubber Mats Market Size in Nigeria

In 2021, the Nigerien vulcanised rubber mats market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, saw a deep contraction. Vulcanised rubber mats consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Vulcanised Rubber Mats Exports

Exports from Nigeria

In 2021, after two years of decline, there was significant growth in shipments abroad of floor coverings and mats of vulcanised rubber, when their volume increased by 73% to X kg. Over the period under review, exports, however, showed a perceptible decline. The growth pace was the most rapid in 2016 with an increase of 775% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, vulcanised rubber mats exports surged to $X in 2021. In general, exports, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2016 with an increase of 1,743%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Niger (X kg), Cameroon (X kg) and Benin (X kg) were the main destinations of vulcanised rubber mats exports from Nigeria, with a combined 73% share of total exports. Cote d'Ivoire, Congo, Tanzania and Gambia lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +34.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the key foreign market for floor coverings and mats of vulcanised rubber exports from Nigeria, comprising 64% of total exports. The second position in the ranking was held by Niger ($X), with an 18% share of total exports. It was followed by Congo, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value to Cote d'Ivoire totaled +21.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+28.8% per year) and Congo (-52.7% per year).

Export Prices by Country

The average vulcanised rubber mats export price stood at $X per ton in 2021, growing by 5.7% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 502% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Cameroon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Congo (+20.2%), while the prices for the other major destinations experienced mixed trend patterns.

Vulcanised Rubber Mats Imports

Imports into Nigeria

In 2021, after two years of decline, there was significant growth in supplies from abroad of floor coverings and mats of vulcanised rubber, when their volume increased by 82% to X tons. Overall, imports, however, faced a abrupt curtailment. The growth pace was the most rapid in 2018 when imports increased by 664%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, vulcanised rubber mats imports surged to $X in 2021. Over the period under review, imports, however, saw a abrupt shrinkage. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest vulcanised rubber mats supplier to Nigeria, with a 59% share of total imports. Moreover, vulcanised rubber mats imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. The third position in this ranking was taken by India (X tons), with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+26.9% per year) and India (+3.3% per year).

In value terms, China ($X) constituted the largest supplier of floor coverings and mats of vulcanised rubber to Nigeria, comprising 48% of total imports. The second position in the ranking was taken by Brazil ($X), with a 12% share of total imports. It was followed by India, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+17.0% per year) and India (+5.5% per year).

Import Prices by Country

In 2021, the average vulcanised rubber mats import price amounted to $X per ton, falling by -3% against the previous year. Over the period under review, the import price, however, continues to indicate a moderate increase. The most prominent rate of growth was recorded in 2014 when the average import price increased by 141% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :