Nigeria: Mounted Lens Market 2025

Mounted Lens Market Size in Nigeria

The Nigerien mounted lens market skyrocketed to $X in 2022, growing by 3,890,580% against the previous year. Overall, consumption recorded a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Mounted Lens Production in Nigeria

In value terms, mounted lens production soared to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt contraction. Mounted lens production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Mounted Lens Exports

Exports from Nigeria

After ten years of growth, shipments abroad of mounted lenses, prisms and mirrors decreased by -91% to X units in 2022. Over the period under review, exports continue to indicate a noticeable decline. The growth pace was the most rapid in 2021 with an increase of 958%. As a result, the exports attained the peak of X units, and then dropped markedly in the following year.

In value terms, mounted lens exports totaled $X in 2022. Overall, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 10,151%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for mounted lens exports from Nigeria, accounting for a 78% share of total exports. Moreover, mounted lens exports to China exceeded the volume sent to the second major destination, Cote d'Ivoire (X units), sevenfold. The third position in this ranking was held by Ghana (X units), with a 5.6% share.

From 2020 to 2022, the average annual rate of growth in terms of volume to China totaled +52.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+41.4% per year) and Ghana (0.0% per year).

In value terms, China ($X) remains the key foreign market for mounted lenses, prisms and mirrors exports from Nigeria, comprising 95% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 3.6% share of total exports. It was followed by Ireland, with a 1% share.

From 2020 to 2022, the average annual growth rate of value to China totaled +11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+338.4% per year) and Ireland (0.0% per year).

Export Prices by Country

In 2022, the average mounted lens export price amounted to $X per unit, jumping by 1,020% against the previous year. Over the period under review, the export price posted notable growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+210.0%), while the prices for the other major destinations experienced mixed trend patterns.

Mounted Lens Imports

Imports into Nigeria

In 2022, approx. X units of mounted lenses, prisms and mirrors were imported into Nigeria; flattening at 2021 figures. In general, imports saw a significant increase. The smallest decline of 99.9% was in 2021. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, mounted lens imports surged to $X in 2022. Overall, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 1,034%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Singapore (X units), South Africa (X units) and Germany (X units) were the main suppliers of mounted lens imports to Nigeria, together accounting for 91% of total imports.

From 2020 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +9,822.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mounted lens suppliers to Nigeria were Singapore ($X), South Africa ($X) and Germany ($X), with a combined 91% share of total imports.

In terms of the main suppliers, South Africa, with a CAGR of +12,831.4%, saw the highest rates of growth with regard to 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 2022, the average mounted lens import price amounted to $X per unit, standing approx. at the previous year. In general, the import price faced a sharp decrease. The most prominent rate of growth was recorded in 2021 when the average import price decreased by 99.9% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Singapore ($X per unit) and South Africa ($X per unit), while the price for Australia ($X per unit) and India ($X per unit) were amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+30.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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