Nigeria: Insulating Fittings Market 2025

Insulating Fittings Market Size in Nigeria

For the fourth year in a row, the Nigerien insulating fittings market recorded growth in sales value, which increased by 52% to $X in 2021. In general, consumption recorded significant growth. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in years to come.

Insulating Fittings Exports

Exports from Nigeria

In 2021, overseas shipments of insulating fittings for electrical purposes decreased by -76.8% to X kg, falling for the second year in a row after five years of growth. In general, exports showed a sharp shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 164%. The exports peaked at X kg in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, insulating fittings exports dropped markedly to $X in 2021. Over the period under review, exports showed a sharp slump. The pace of growth was the most pronounced in 2016 with an increase of 185% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Benin (X kg) was the main destination for insulating fittings exports from Nigeria, accounting for a 71% share of total exports. Moreover, insulating fittings exports to Benin exceeded the volume sent to the second major destination, Cote d'Ivoire (X kg), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Benin totaled -7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+16.7% per year) and France (0.0% per year).

In value terms, the largest markets for insulating fittings exported from Nigeria were Cote d'Ivoire ($X), Benin ($X) and France ($X), with a combined 99% share of total exports.

Among the main countries of destination, Benin, with a CAGR of +4.4%, saw 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

The average insulating fittings export price stood at $X per ton in 2021, falling by -16.9% against the previous year. In general, the export price saw a slight reduction. The pace of growth was the most pronounced in 2020 when the average export price increased by 185% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced notably in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+13.0%), while the prices for the other major destinations experienced a decline.

Insulating Fittings Imports

Imports into Nigeria

Insulating fittings imports into Nigeria soared to X tons in 2021, jumping by 48% against 2020. Over the period under review, imports posted significant growth. The growth pace was the most rapid in 2020 when imports increased by 631% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, insulating fittings imports surged to $X in 2021. In general, imports enjoyed a significant increase. The growth pace was the most rapid in 2020 with an increase of 525%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of insulating fittings to Nigeria, with a 75% share of total imports. Moreover, insulating fittings imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), eightfold. Hong Kong SAR (X tons) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +45.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+52.0% per year) and Hong Kong SAR (+121.9% per year).

In value terms, China ($X) constituted the largest supplier of insulating fittings for electrical purposes to Nigeria, comprising 63% of total imports. The second position in the ranking was taken by India ($X), with a 10% share of total imports. It was followed by Hong Kong SAR, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +41.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+40.0% per year) and Hong Kong SAR (+93.4% per year).

Import Prices by Country

In 2021, the average insulating fittings import price amounted to $X per ton, picking up by 18% against the previous year. In general, the import price, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by 75% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Hong Kong SAR ($X per ton) and India ($X per ton), while the price for China ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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