Report Update Nov 1, 2024

Nigeria - Glass Fiber Filaments - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in Nigeria

In 2021, the Nigerien glass fibre filament market increased by 6.6% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Glass Fibre Filament Exports

Exports from Nigeria

In 2019, glass fibre filament exports from Nigeria was estimated at X kg, therefore, remained relatively stable against the previous year. Over the period under review, exports recorded a relatively flat trend pattern. Over the period under review, the exports reached the maximum in 2019 and are likely to see gradual growth in the immediate term.

In value terms, glass fibre filament exports totaled $X in 2019. Overall, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports reached the peak figure in 2019 and are expected to retain growth in years to come.

Exports by Country

Indonesia (X kg) was the main destination for glass fibre filament exports from Nigeria, with a approx. 100% share of total exports.

From 2019 to 2019, the average annual growth rate of volume to Indonesia was relatively modest.

From 2019 to 2019, the average annual growth rate of value to Indonesia was relatively modest.

Glass Fibre Filament Imports

Imports into Nigeria

Glass fibre filament imports into Nigeria shrank to X tons in 2021, which is down by -10.1% on 2020 figures. Overall, imports, however, showed a tangible increase. The growth pace was the most rapid in 2013 when imports increased by 100%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, glass fibre filament imports surged to $X in 2021. In general, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2018 when imports increased by 82% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) was the main glass fibre filament supplier to Nigeria, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +10.3%.

In value terms, China ($X) constituted the largest supplier of glass fibre filaments to Nigeria.

From 2012 to 2021, the average annual growth rate of value from China stood at +26.0%.

Import Prices by Country

The average glass fibre filament import price stood at $X per ton in 2021, with an increase of 46% against the previous year. In general, the import price recorded strong growth. The growth pace was the most rapid in 2018 an increase of 140%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +14.2% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for glass fibre filaments in the world?

The countries with the highest volumes of glass fibre filament consumption in 2021 were China, the United States and India, together accounting for 39% of global consumption. These countries were followed by Russia, Brazil, Bangladesh, Japan, Mexico, Turkey, France, Thailand, Spain and Australia, which together accounted for a further 32%.

What are the largest producers of glass fibre filaments in the world?

The country with the largest volume of glass fibre filament production was China, accounting for 33% of total volume. Moreover, glass fibre filament production in China exceeded the figures recorded by the second-largest producer, India, fourfold. The United States ranked third in terms of total production with a 7.6% share.

What are the leading suppliers of glass fibre filaments to Nigeria?

In value terms, China constituted the largest supplier of glass fibre filament to Nigeria, comprising 55% of total imports. The second position in the ranking was occupied by the UK, with a 20% share of total imports. It was followed by the Netherlands, with an 8.3% share.

What is the average export price for glass fibre filaments in Nigeria?

The average glass fibre filament export price stood at $1,111 per ton in 2019, remaining relatively unchanged against the previous year.

What is the average import price for glass fibre filaments in Nigeria?

In 2021, the average glass fibre filament import price amounted to $793 per ton, dropping by -22.5% against the previous year.

This report provides an in-depth analysis of the glass fibre filament 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 23141130 - Glass fibre filaments (including rovings)

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:

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

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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