Report Update Nov 1, 2024

Nigeria - Ink-Pads - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Ink-Pad Market 2024

Ink-Pad Market Size in Nigeria

The Nigerien ink-pad market dropped significantly to $X in 2022, reducing by -24.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a noticeable decrease. Ink-pad consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Ink-Pad Exports

Exports from Nigeria

In 2022, approx. X units of ink-pads were exported from Nigeria; picking up by 71% compared with the previous year. In general, exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 152% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, ink-pad exports soared to $X in 2022. Overall, exports enjoyed prominent growth. The growth pace was the most rapid in 2013 when exports increased by 122%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Congo (X units), Ghana (X units) and Benin (X units) were the main destinations of ink-pad exports from Nigeria, with a combined 99% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Benin (with a CAGR of +33.1%), while the other leaders experienced more modest paces of growth.

In value terms, Benin ($X), Ghana ($X) and Congo ($X) constituted the largest markets for ink-pad exported from Nigeria worldwide, with a combined 47% share of total exports.

In terms of the main countries of destination, Benin, with a CAGR of +23.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average ink-pad export price amounted to $X per unit, reducing by -8.2% against the previous year. Overall, the export price showed a slight curtailment. The growth pace was the most rapid in 2017 when the average export price increased by 102%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($X per unit), while the average price for exports to Congo (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (-7.4%), while the prices for the other major destinations experienced a decline.

Ink-Pad Imports

Imports into Nigeria

Ink-pad imports into Nigeria dropped remarkably to X units in 2022, shrinking by -24.8% against 2021. In general, imports showed a mild contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 302% against the previous year. Over the period under review, imports attained the maximum at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, ink-pad imports plummeted to $X in 2022. Over the period under review, imports saw a noticeable downturn. The growth pace was the most rapid in 2019 when imports increased by 317% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main supplier of ink-pad to Nigeria, with a 91% share of total imports. It was followed by Singapore (X units), with a 2.8% share of total imports. The third position in this ranking was held by Turkey (X units), with a 2.1% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+21.2% per year) and Turkey (+9.9% per year).

In value terms, China ($X) constituted the largest supplier of ink-pads to Nigeria, comprising 79% of total imports. The second position in the ranking was held by the United States ($X), with a 4.3% share of total imports. It was followed by Singapore, with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-18.8% per year) and Singapore (+23.9% per year).

Import Prices by Country

The average ink-pad import price stood at $X per unit in 2022, rising by 4.3% against the previous year. Overall, the import price, however, continues to indicate a mild reduction. The growth pace was the most rapid in 2014 an increase of 36% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained 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 the United States ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+14.3%), 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 ink-pads in the world?

South Africa remains the largest ink-pad consuming country worldwide, comprising approx. 86% of total volume. It was followed by the United States, with a 1.9% share of total consumption.

What are the largest producers of ink-pads in the world?

South Africa remains the largest ink-pad producing country worldwide, accounting for 98% of total volume.

What are the leading suppliers of ink-pads to Nigeria?

In value terms, China constituted the largest supplier of ink-pad to Nigeria, comprising 80% of total imports. The second position in the ranking was occupied by the United States, with an 8.5% share of total imports. It was followed by Taiwan Chinese), with a 1.6% share.

What are the leading importers of ink-pads from Nigeria?

In value terms, Benin $369) remains the key foreign market for ink-pad exports from Nigeria, comprising 50% of total exports. The second position in the ranking was occupied by Ghana $171), with a 23% share of total exports.

What is the average export price for ink-pads in Nigeria?

In 2021, the average ink-pad export price amounted to $0.1 per unit, shrinking by -23% against the previous year.

What is the average import price for ink-pads in Nigeria?

The average ink-pad import price stood at $0.7 per unit in 2021, rising by 7.7% against the previous year.

This report provides an in-depth analysis of the ink-pad 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 32991650 - Ink-pads (excluding hand operated ink-rollers)

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