Report Update Nov 1, 2024

Nigeria - Natural Stone Setts, Kerbstones and Flagstones - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Nigeria

The Nigerien natural stone sett market soared to $X in 2022, jumping by 143% 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). Overall, consumption, however, saw a relatively flat trend pattern. Natural stone sett consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Natural Stone Sett Exports

Exports from Nigeria

In 2022, the amount of natural stone setts, kerbstones and flagstones exported from Nigeria soared to X tons, growing by 78% against 2021 figures. Overall, exports, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2020 when exports increased by 1,012% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, natural stone sett exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 829% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons) was the main destination for natural stone sett exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden stood at -6.4%.

In value terms, Sweden ($X) also remains the key foreign market for natural stone setts, kerbstones and flagstones exports from Nigeria.

From 2012 to 2022, the average annual growth rate of value to Sweden amounted to -3.8%.

Export Prices by Country

In 2022, the average natural stone sett export price amounted to $X per ton, with an increase of 3.8% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, natural stone sett export price decreased by -17.5% against 2019 indices. The pace of growth was the most pronounced in 2019 when the average export price increased by 76%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Sweden.

From 2012 to 2022, the rate of growth in terms of prices for Benin amounted to +777.1% per year.

Natural Stone Sett Imports

Imports into Nigeria

In 2022, imports of natural stone setts, kerbstones and flagstones into Nigeria skyrocketed to X tons, picking up by 115% compared with the previous year. Over the period under review, imports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 185%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, natural stone sett imports surged to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 373% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Spain (X tons), Lebanon (X tons) and China (X tons) were the main suppliers of natural stone sett imports to Nigeria, with a combined 60% share of total imports. The United States, Italy, Belgium and India lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +20.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest natural stone sett suppliers to Nigeria were Spain ($X), China ($X) and Lebanon ($X), with a combined 72% share of total imports.

Among the main suppliers, Spain, with a CAGR of +24.8%, recorded 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

The average natural stone sett import price stood at $X per ton in 2022, with an increase of 25% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, natural stone sett import price decreased by -5.2% against 2020 indices. The growth pace was the most rapid in 2018 when the average import price increased by 98%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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 India ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for natural stone setts, kerbstones and flagstones in the world?

The countries with the highest volumes of in 2021 were China, Afghanistan and the United States, together accounting for 33% of global consumption. These countries were followed by India, Indonesia, Brazil, Vietnam, Mexico, Turkey, the Philippines, South Korea, Pakistan and Qatar, which together accounted for a further 28%.

What are the largest producers of natural stone setts, kerbstones and flagstones in the world?

China constituted the country with the largest volume of natural stone sett production, accounting for 20% of total volume. Moreover, natural stone sett production in China exceeded the figures recorded by the second-largest producer, Pakistan, twofold. The United States ranked third in terms of total production with a 9.1% share.

What are the leading suppliers of natural stone setts, kerbstones and flagstones to Nigeria?

In value terms, Spain constituted the largest supplier of natural stone sett to Nigeria, comprising 49% of total imports. The second position in the ranking was occupied by China, with a 19% share of total imports. It was followed by Lebanon, with a 14% share.

What are the leading importers of natural stone setts, kerbstones and flagstones from Nigeria?

In value terms, Sweden $350) remains the key foreign market for natural stone sett exports from Nigeria.

What is the average export price for natural stone setts, kerbstones and flagstones in Nigeria?

In 2021, the average natural stone sett export price amounted to $297 per ton, waning by -5.8% against the previous year.

What is the average import price for natural stone setts, kerbstones and flagstones in Nigeria?

In 2021, the average natural stone sett import price amounted to $679 per ton, which is down by -42.5% against the previous year.

This report provides an in-depth analysis of the natural stone sett market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 23701210 - Natural stone setts, kerbstones and flagstones (excluding of slate)

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023