Report Update Nov 1, 2024

Nigeria - Grinding or Polishing Machines for Working Stone, Ceramics and Concrete - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Stone Polishing Machine Market 2024

Stone Polishing Machine Market Size in Nigeria

In 2022, the Nigerien stone polishing machine market decreased by -45.2% to $X, falling for the third year in a row after two years of growth. In general, consumption, however, enjoyed a significant increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Stone Polishing Machine Production in Nigeria

In value terms, stone polishing machine production dropped to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 39%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Stone Polishing Machine Exports

Exports from Nigeria

In 2022, stone polishing machine exports from Nigeria stood at less than X units, approximately mirroring the year before. In general, exports showed a relatively flat trend pattern. The smallest decline of 99.9% was in 2016. Over the period under review, the exports reached the maximum at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, stone polishing machine exports soared to $X in 2022. Over the period under review, exports continue to indicate a precipitous decrease. The growth pace was the most rapid in 2015 with an increase of 217% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Stone Polishing Machine Imports

Imports into Nigeria

In 2022, purchases abroad of grinding or polishing machines for working stone, ceramics and concrete decreased by -45.2% to X units, falling for the third consecutive year after two years of growth. In general, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 1,853% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, stone polishing machine imports dropped sharply to $X in 2022. Overall, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 3,976%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X units), China (X units) and Singapore (X units) were the main suppliers of stone polishing machine imports to Nigeria, with a combined 86% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +58.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest stone polishing machine suppliers to Nigeria were Japan ($X), China ($X) and the United Arab Emirates ($X), with a combined 90% share of total imports. Israel, Singapore, the United States and the UK lagged somewhat behind, together accounting for a further 5.3%.

Israel, with a CAGR of +120.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average stone polishing machine import price amounted to $X per unit, picking up by 10% against the previous year. In general, the import price posted pronounced growth. The pace of growth was the most pronounced in 2018 when the average import price increased by 109%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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 China ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+54.2%), 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 grinding or polishing machines for working stone, ceramics and concrete in the world?

The countries with the highest volumes of in 2021 were Italy, the United States and South Africa, together accounting for 51% of global consumption. Brazil, Nigeria, China, Japan, Indonesia, Singapore, Spain, India, Thailand and Malaysia lagged somewhat behind, together comprising a further 33%.

What are the largest producers of grinding or polishing machines for working stone, ceramics and concrete in the world?

The country with the largest volume of stone polishing machine production was Italy, comprising approx. 46% of total volume. Moreover, stone polishing machine production in Italy exceeded the figures recorded by the second-largest producer, China, threefold. The third position in this ranking was occupied by South Korea, with a 10% share.

What are the leading suppliers of grinding or polishing machines for working stone, ceramics and concrete to Nigeria?

In value terms, China, Japan and the United Arab Emirates appeared to be the largest stone polishing machine suppliers to Nigeria, together comprising 98% of total imports.

What are the leading importers of grinding or polishing machines for working stone, ceramics and concrete from Nigeria?

In value terms, Gambia $410) remains the key foreign market for stone polishing machine exports from Nigeria.

What is the average export price for grinding or polishing machines for working stone, ceramics and concrete in Nigeria?

In 2021, the average stone polishing machine export price amounted to $135 per unit, with an increase of 60% against the previous year.

What is the average import price for grinding or polishing machines for working stone, ceramics and concrete in Nigeria?

The average stone polishing machine import price stood at $162 per unit in 2021, growing by 7.2% against the previous year.

This report provides an in-depth analysis of the stone polishing machine 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 28491150 - Grinding or polishing machines for working stone, ceramics, c oncrete, asbestos-cement or like mineral materials or for cold working glass

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