Report Update Nov 1, 2024

Nigeria - Glass Fibres and Glass Fibre Articles - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Nigeria

In 2022, after four years of growth, there was significant decline in the Nigerien glass fibre and article market, when its value decreased by X% to $X. Over the period under review, consumption, however, recorded a noticeable decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Nigeria

Glass fibre and article imports into Nigeria skyrocketed to X tons in 2022, with an increase of X% against the previous year. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, glass fibre and article imports contracted notably to $X in 2022. In general, imports, however, showed a perceptible descent. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and Turkey (X tons) were the main suppliers of glass fibre and article imports to Nigeria, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre and article suppliers to Nigeria were China ($X), Turkey ($X) and Taiwan (Chinese) ($X), together accounting for X% of total imports.

Among the main suppliers, Taiwan (Chinese), with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass fibre and article import price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the import price showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Germany ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for glass fibres and glass fibre articles in the world?

China constituted the country with the largest volume of glass fibre and article consumption, comprising approx. 22% of total volume. Moreover, glass fibre and article consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. The third position in this ranking was occupied by India, with an 8.5% share.

What are the largest producers of glass fibres and glass fibre articles in the world?

China constituted the country with the largest volume of glass fibre and article production, accounting for 32% of total volume. Moreover, glass fibre and article 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 6.4% share.

What are the leading suppliers of glass fibres and glass fibre articles to Nigeria?

In value terms, Singapore constituted the largest supplier of glass fibre and article to Nigeria, comprising 23% of total imports. The second position in the ranking was occupied by China, with a 10% share of total imports. It was followed by Turkey, with a 9.6% share.

What is the average export price for glass fibres and glass fibre articles in Nigeria?

The average glass fibre and article export price stood at $1,427 per ton in 2021, shrinking by -7.9% against the previous year.

What is the average import price for glass fibres and glass fibre articles in Nigeria?

The average glass fibre and article import price stood at $2,662 per ton in 2021, which is down by -7.2% against the previous year.

This report provides an in-depth analysis of the market for glass fibre and article 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 23141110 - Glass fibre threads cut into lengths of at least 3 mm but . .50 mm (chopped strands)
Prodcom 23141130 - Glass fibre filaments (including rovings)
Prodcom 23141150 - Slivers, yarns and chopped strands of filaments of glass fibres (excluding glass fibre threads cut into lengths of at least 3 mm but . .50 mm)
Prodcom 23141170 - Staple glass fibre articles
Prodcom 23141210 -
Prodcom 23141230 -
Prodcom 23141250 - Non-woven glass fibre webs, felts, mattresses and boards
Prodcom 23141293 -
Prodcom 23141295 -
Prodcom 23141299 -
Prodcom 13204600 - Woven fabrics of glass fibre (including narrow fabrics, glass wool)

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