Nigeria: Market for Natural Rubber And Gums 2025

Market Size for Natural Rubber And Gums in Nigeria

The Nigerien natural rubber and gum market reached $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption showed a deep setback. The pace of growth appeared the most rapid in 2020 when the market value increased by 1.2% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Natural Rubber And Gums in Nigeria

In value terms, natural rubber and gum production stood at $X in 2022 estimated in export price. Overall, production recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by 2.1% against the previous year. Natural rubber and gum production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The average yield of natural rubber and gums in Nigeria contracted to X kg per ha in 2022, remaining relatively unchanged against 2021 figures. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the yield increased by 1.2% against the previous year. Over the period under review, the average natural rubber and gum yield hit record highs at X kg per ha in 2021, and then contracted modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The natural rubber and gum harvested area in Nigeria contracted slightly to X ha in 2022, remaining stable against 2021. Overall, the harvested area, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 0.7% against the previous year. The natural rubber and gum harvested area peaked at X ha in 2014; however, from 2015 to 2022, the harvested area remained at a lower figure.

Exports of Natural Rubber And Gums

Exports from Nigeria

In 2022, shipments abroad of natural rubber and gums decreased by -35.1% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, exports showed a sharp descent. The most prominent rate of growth was recorded in 2015 when exports increased by 409%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, natural rubber and gum exports contracted sharply to $X in 2022. Overall, exports continue to indicate a dramatic slump. The pace of growth was the most pronounced in 2021 with an increase of 381%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Belgium (X tons) was the main destination for natural rubber and gum exports from Nigeria, accounting for a 50% share of total exports. Moreover, natural rubber and gum exports to Belgium exceeded the volume sent to the second major destination, France (X tons), fourfold. Germany (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium totaled +11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-5.1% per year) and Germany (-10.6% per year).

In value terms, France ($X) remains the key foreign market for natural rubber and gums exports from Nigeria, comprising 53% of total exports. The second position in the ranking was held by Belgium ($X), with an 18% share of total exports. It was followed by Germany, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France stood at +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-1.3% per year) and Germany (-15.8% per year).

Export Prices by Country

In 2022, the average natural rubber and gum export price amounted to $X per ton, which is down by -6.9% against the previous year. Over the period under review, the export price recorded a pronounced slump. The pace of growth appeared the most rapid in 2021 when the average export price increased by 43% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to China ($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 France (+7.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Natural Rubber And Gums

Imports into Nigeria

In 2022, approx. X tons of natural rubber and gums were imported into Nigeria; reducing by -47.9% against the previous year. Overall, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 3,614% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, natural rubber and gum imports contracted markedly to $X in 2022. In general, imports, however, showed a slight increase. The growth pace was the most rapid in 2021 when imports increased by 3,369%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

India (X tons), Thailand (X tons) and China (X tons) were the main suppliers of natural rubber and gum imports to Nigeria, with a combined 84% share of total imports. Malaysia, the United Arab Emirates and the Netherlands lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +56.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constituted the largest supplier of natural rubber and gums to Nigeria, comprising 54% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 23% share of total imports. It was followed by India, with an 18% share.

From 2012 to 2022, the average annual growth rate of value from Thailand stood at +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+30.5% per year) and India (+46.5% per year).

Import Prices by Country

In 2022, the average natural rubber and gum import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2013 an increase of 190%. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+442.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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