Nigeria: Modelling Pastes Market 2024

Modelling Pastes Market Size in Nigeria

In 2021, the Nigerien modelling pastes market decreased by -15.9% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, recorded a strong expansion. Modelling pastes consumption peaked at $X in 2020, and then dropped sharply in the following year.

Modelling Pastes Production in Nigeria

In value terms, modelling pastes production declined remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, showed resilient growth. The growth pace was the most rapid in 2017 with an increase of 61% against the previous year. Modelling pastes production peaked at $X in 2020, and then dropped rapidly in the following year.

Modelling Pastes Exports

Exports from Nigeria

In 2021, overseas shipments of modelling pastes, dental wax and dental impression compounds decreased by -27.9% to X kg, falling for the fifth consecutive year after two years of growth. In general, exports recorded a sharp decrease. The most prominent rate of growth was recorded in 2013 with an increase of 756% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, modelling pastes exports rose markedly to $X in 2021. Overall, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2013 when exports increased by 680%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Zambia (X kg) was the main destination for modelling pastes exports from Nigeria, accounting for a 95% share of total exports. Moreover, modelling pastes exports to Zambia exceeded the volume sent to the second major destination, Turkey (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Zambia totaled -26.5%.

In value terms, Zambia ($X) remains the key foreign market for modelling pastes, dental wax and dental impression compounds exports from Nigeria, comprising 96% of total exports. The second position in the ranking was held by Turkey ($X), with a 3.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Zambia totaled -17.8%.

Export Prices by Country

In 2021, the average modelling pastes export price amounted to $X per ton, jumping by 52% against the previous year. In general, the export price enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 an increase of 143%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2021, the country with the highest price was Zambia ($X per ton), while the average price for exports to Turkey stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Zambia (+11.9%).

Modelling Pastes Imports

Imports into Nigeria

In 2021, purchases abroad of modelling pastes, dental wax and dental impression compounds decreased by -64.6% to X tons, falling for the second year in a row after two years of growth. Overall, imports continue to indicate a significant contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 2,951% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, modelling pastes imports shrank rapidly to $X in 2021. In general, imports recorded a deep downturn. The growth pace was the most rapid in 2014 when imports increased by 4,207% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Germany (X kg) constituted the largest modelling pastes supplier to Nigeria, accounting for a 25% share of total imports. Moreover, modelling pastes imports from Germany exceeded the figures recorded by the second-largest supplier, the UK (X kg), threefold. The United States (X kg) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-20.6% per year) and the United States (+1.0% per year).

In value terms, Germany ($X) constituted the largest supplier of modelling pastes, dental wax and dental impression compounds to Nigeria, comprising 36% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 2.4% share of total imports. It was followed by China, with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-14.6% per year) and China (-42.5% per year).

Import Prices by Country

In 2021, the average modelling pastes import price amounted to $X per ton, jumping by 92% against the previous year. Overall, the import price continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 134% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2,705.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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