Nigeria: Nails And Tacks Market 2025

Nails And Tacks Market Size in Nigeria

The Nigerien nails and tacks market soared to $X in 2022, jumping by 150% 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 enjoyed a buoyant increase. Nails and tacks consumption peaked in 2022 and is expected to retain growth in the near future.

Nails And Tacks Exports

Exports from Nigeria

In 2022, after two years of growth, there was significant decline in overseas shipments of nails, tacks, drawing pins, corrugated nails, staples, when their volume decreased by -30.9% to X kg. Overall, exports recorded a abrupt downturn. The pace of growth was the most pronounced in 2015 with an increase of 192%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, nails and tacks exports declined to $X in 2022. In general, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2015 when exports increased by 163% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ghana (X kg), Niger (X kg) and Burkina Faso (X kg) were the main destinations of nails and tacks exports from Nigeria, together comprising 92% of total exports.

From 2012 to 2022, the biggest increases were recorded for Niger (with a CAGR of +6.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for nails and tacks exported from Nigeria were Cote d'Ivoire ($X), Burkina Faso ($X) and Niger ($X), together comprising 92% of total exports.

In terms of the main countries of destination, Burkina Faso, with a CAGR of +19.3%, recorded the highest rates of growth with regard to 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 nails and tacks export price amounted to $X per ton, growing by 29% against the previous year. Over the period under review, the export price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 144% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+19.8%), while the prices for the other major destinations experienced mixed trend patterns.

Nails And Tacks Imports

Imports into Nigeria

Nails and tacks imports into Nigeria surged to X tons in 2022, growing by 143% against the previous year's figure. Over the period under review, imports recorded a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of 368% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, nails and tacks imports soared to $X in 2022. In general, imports saw a moderate increase. The pace of growth appeared the most rapid in 2021 with an increase of 331%. Imports peaked at $X in 2013; afterwards, it flattened through to 2022.

Imports by Country

In 2022, China (X tons) constituted the largest nails and tacks supplier to Nigeria, accounting for a 80% share of total imports. Moreover, nails and tacks imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sixfold. India (X tons) ranked third in terms of total imports with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+18.3% per year) and India (-7.6% per year).

In value terms, China ($X) constituted the largest supplier of nails, tacks, drawing pins, corrugated nails, staples to Nigeria, comprising 78% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.3% share of total imports. It was followed by the UK, with a 2.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+8.0% per year) and the UK (-5.4% per year).

Import Prices by Country

The average nails and tacks import price stood at $X per ton in 2022, rising by 7.7% against the previous year. In general, the import price, however, saw a noticeable setback. The pace of growth was the most pronounced in 2015 when the average import price increased by 38%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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 UK ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+7.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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