Nigeria: Market for Glass in The Mass 2024

Market Size for Glass in The Mass in Nigeria

The Nigerien glass in the mass market contracted remarkably to $X in 2022, falling by -38.7% against the previous year. In general, consumption showed a dramatic decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Glass in The Mass in Nigeria

In value terms, glass in the mass production fell remarkably to $X in 2022 estimated in export price. Over the period under review, production showed a sharp decrease. The most prominent rate of growth was recorded in 2016 with an increase of 11%. Over the period under review, glass in mass production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Glass in The Mass

Exports from Nigeria

After six years of decline, overseas shipments of glass in the mass increased by 220% to X tons in 2022. In general, exports, however, continue to indicate a abrupt contraction. Over the period under review, the glass in mass exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, glass in the mass exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a deep downturn. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Ghana (X tons) was the main destination for glass in the mass exports from Nigeria, with a 95% share of total exports. It was followed by Germany (X tons), with a 2.2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Ghana totaled -18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (0.0% per year) and Kenya (-30.0% per year).

In value terms, Ghana ($X) remains the key foreign market for glass in the mass exports from Nigeria, comprising 83% of total exports. The second position in the ranking was taken by Germany ($X), with an 8.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Ghana amounted to -21.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (0.0% per year) and Kenya (-0.6% per year).

Export Prices by Country

In 2022, the average glass in the mass export price amounted to $X per ton, increasing by 14% against the previous year. Overall, the export price, however, showed a slight contraction. The pace of growth appeared the most rapid in 2018 when the average export price increased by 266% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (+41.9%).

Imports of Glass in The Mass

Imports into Nigeria

In 2022, approx. X tons of glass in the mass were imported into Nigeria; increasing by 275% against the year before. Over the period under review, imports, however, continue to indicate a pronounced descent. The pace of growth was the most pronounced in 2020 when imports increased by 7,233% against the previous year. Over the period under review, glass in mass imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, glass in the mass imports soared to $X in 2022. Overall, imports saw moderate growth. The most prominent rate of growth was recorded in 2020 with an increase of 3,105%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main glass in the mass supplier to Nigeria, accounting for a 92% share of total imports. Moreover, glass in the mass imports from China exceeded the figures recorded by the second-largest supplier, Ghana (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Ghana (-4.6% per year) and the United States (-26.7% per year).

In value terms, the largest glass in the mass suppliers to Nigeria were China ($X), Ghana ($X) and the United States ($X), with a combined 93% share of total imports.

Among the main suppliers, Ghana, with a CAGR of +7.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average glass in the mass import price amounted to $X per ton, with a decrease of -14.3% against the previous year. Over the period under review, the import price, however, posted tangible growth. The pace of growth was the most pronounced in 2021 an increase of 107% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 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 Ghana ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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