Nigeria: Flat Glass Market 2024

Flat Glass Market Size in Nigeria

The Nigerien flat glass market shrank to $X in 2021, declining by -11.6% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Flat Glass Production in Nigeria

In value terms, flat glass production reduced to $X in 2021 estimated in export price. Over the period under review, the total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +9.7% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 29% against the previous year. Flat glass production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Flat Glass Exports

Exports from Nigeria

Flat glass exports from Nigeria surged to X tons in 2021, rising by 400% on 2020 figures. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 3,108% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, flat glass exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2019 when exports increased by 976% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Peru (X tons), Dominica (X tons) and Chile (X tons) were the main destinations of flat glass exports from Nigeria, together accounting for 65% of total exports. Turkey, Colombia, Senegal, Syrian Arab Republic, Tanzania, Tunisia and Ghana lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the biggest increases were recorded for Colombia (with a CAGR of +74.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for flat glass exported from Nigeria were Peru ($X), Chile ($X) and Turkey ($X), together accounting for 39% of total exports. Colombia, Syrian Arab Republic, Tunisia, Dominica, Senegal, Tanzania and Ghana lagged somewhat behind, together comprising a further 18%.

Colombia, with a CAGR of +58.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average flat glass export price amounted to $X per ton, waning by -28.3% against the previous year. Overall, the export price recorded a drastic downturn. The growth pace was the most rapid in 2014 an increase of 141%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Tunisia ($X per ton), while the average price for exports to Dominica ($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 Tunisia (+189.8%), while the prices for the other major destinations experienced mixed trend patterns.

Flat Glass Imports

Imports into Nigeria

Flat glass imports into Nigeria shrank remarkably to X tons in 2021, which is down by -79.6% on the previous year. Over the period under review, imports saw a precipitous decline. The most prominent rate of growth was recorded in 2019 when imports increased by 199% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, flat glass imports fell rapidly to $X in 2021. In general, imports showed a sharp setback. The most prominent rate of growth was recorded in 2019 with an increase of 127% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest flat glass supplier to Nigeria, accounting for a 74% share of total imports. Moreover, flat glass imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), more than tenfold. Italy (X tons) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -34.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+4.8% per year) and Italy (-12.5% per year).

In value terms, China ($X) constituted the largest supplier of flat glass to Nigeria, comprising 39% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 13% share of total imports. It was followed by Italy, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -39.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+14.5% per year) and Italy (-18.5% per year).

Import Prices by Country

In 2021, the average flat glass import price amounted to $X per ton, with an increase of 7.6% against the previous year. In general, the import price, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2016 when the average import price increased by 39%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Lebanon ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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