Report Update Nov 1, 2024

Nigeria - Illuminated Signs and Illuminated Name-Plates - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Illuminated Sign Market 2024

Illuminated Sign Market Size in Nigeria

In 2021, the Nigerien illuminated sign market decreased by -41.6% to $X, falling for the second consecutive year after two years of growth. In general, consumption recorded a abrupt contraction. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Illuminated Sign Exports

Exports from Nigeria

In 2021, overseas shipments of illuminated signs and illuminated name-plates increased by 14% to X kg for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2017 with an increase of 768%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, illuminated sign exports surged to $X in 2021. Over the period under review, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2017 with an increase of 546%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Niger (X kg) was the main destination for illuminated sign exports from Nigeria, with a 97% share of total exports. It was followed by Benin (X kg), with a 1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Niger totaled -17.9%.

In value terms, Niger ($X) remains the key foreign market for illuminated signs and illuminated name-plates exports from Nigeria, comprising 46% of total exports. The second position in the ranking was held by Benin ($X), with a 2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Niger totaled -23.0%.

Export Prices by Country

In 2021, the average illuminated sign export price amounted to $X per ton, with an increase of 35% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 47% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Benin ($X per ton), while the average price for exports to Niger amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Swaziland (+14.1%), while the prices for the other major destinations experienced mixed trend patterns.

Illuminated Sign Imports

Imports into Nigeria

In 2021, purchases abroad of illuminated signs and illuminated name-plates decreased by -32.5% to X tons, falling for the second year in a row after two years of growth. Overall, imports recorded a deep setback. The growth pace was the most rapid in 2014 when imports increased by 330% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, illuminated sign imports fell markedly to $X in 2021. Over the period under review, imports continue to indicate a abrupt slump. The growth pace was the most rapid in 2014 with an increase of 273%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of illuminated sign to Nigeria, with a 23% share of total imports. Moreover, illuminated sign imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. The third position in this ranking was held by South Africa (X tons), with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+42.5% per year) and South Africa (-15.1% per year).

In value terms, the largest illuminated sign suppliers to Nigeria were South Africa ($X), China ($X) and Poland ($X), with a combined 52% share of total imports. Turkey, Latvia, Barbados and the United States lagged somewhat behind, together accounting for a further 10%.

Among the main suppliers, Turkey, with a CAGR of +20.5%, recorded the highest growth rate of 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

In 2021, the average illuminated sign import price amounted to $X per ton, reducing by -25.2% against the previous year. In general, the import price recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2017 an increase of 55%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Barbados ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+12.5%), 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 illuminated signs and illuminated name-plates in the world?

China remains the largest illuminated sign consuming country worldwide, accounting for 28% of total volume. Moreover, illuminated sign consumption in China exceeded the figures recorded by the second-largest consumer, the United States, fourfold. The third position in this ranking was occupied by Japan, with a 6.6% share.

What are the largest producers of illuminated signs and illuminated name-plates in the world?

The country with the largest volume of illuminated sign production was China, comprising approx. 43% of total volume. Moreover, illuminated sign production in China exceeded the figures recorded by the second-largest producer, Japan, sevenfold. The third position in this ranking was occupied by Brazil, with a 4.6% share.

What are the leading suppliers of illuminated signs and illuminated name-plates to Nigeria?

In value terms, China constituted the largest supplier of illuminated sign to Nigeria, comprising 52% of total imports. The second position in the ranking was occupied by South Africa, with a 14% share of total imports. It was followed by Turkey, with an 11% share.

What is the average export price for illuminated signs and illuminated name-plates in Nigeria?

In 2020, the average illuminated sign export price amounted to $5.6 per unit, falling by -4.3% against the previous year.

What is the average import price for illuminated signs and illuminated name-plates in Nigeria?

The average illuminated sign import price stood at $9.6 per unit in 2020, rising by 11% against the previous year.

This report provides an in-depth analysis of the illuminated sign 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 27402400 - Illuminated signs, illuminated name-plates and the like (including road signs)

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