Nigeria: Assembled Parquet Panels Market 2024

Assembled Parquet Panels Market Size in Nigeria

In 2021, the Nigerien assembled parquet panels market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption posted a moderate increase. Assembled parquet panels consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Assembled Parquet Panels Production in Nigeria

In value terms, assembled parquet panels production stood at $X in 2021 estimated in export price. Over the period under review, production enjoyed measured growth. The pace of growth appeared the most rapid in 2018 with an increase of 78% against the previous year. Assembled parquet panels production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Assembled Parquet Panels Exports

Exports from Nigeria

Assembled parquet panels exports from Nigeria declined to X kg in 2021, which is down by -9% on the year before. In general, exports recorded a pronounced curtailment. The pace of growth was the most pronounced in 2014 when exports increased by 436% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, assembled parquet panels exports surged to $X in 2021. Overall, exports recorded a slight reduction. The most prominent rate of growth was recorded in 2014 with an increase of 620%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Italy (X kg) was the main destination for assembled parquet panels exports from Nigeria, with a 70% share of total exports. Moreover, assembled parquet panels exports to Italy exceeded the volume sent to the second major destination, Niger (X kg), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy amounted to -8.3%.

In value terms, Italy ($X) remains the key foreign market for assembled parquet panels exports from Nigeria, comprising 47% of total exports. The second position in the ranking was taken by Niger ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Italy amounted to -9.5%.

Export Prices by Country

In 2021, the average assembled parquet panels export price amounted to $X per ton, increasing by 68% against the previous year. Over the period under review, the export price posted notable growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 139% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to Niger totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+4.4%), while the prices for the other major destinations experienced a decline.

Assembled Parquet Panels Imports

Imports into Nigeria

In 2021, after two years of decline, there was significant growth in overseas purchases of assembled parquet panels, when their volume increased by 58% to X tons. In general, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 175%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, assembled parquet panels imports surged to $X in 2021. Overall, imports enjoyed a slight increase. The pace of growth was the most pronounced in 2013 when imports increased by 198%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), the Netherlands (X tons) and Italy (X tons) were the main suppliers of assembled parquet panels imports to Nigeria, with a combined 62% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +88.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of assembled parquet panels to Nigeria, comprising 29% of total imports. The second position in the ranking was held by Spain ($X), with an 11% share of total imports. It was followed by the Netherlands, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-4.6% per year) and the Netherlands (+52.5% per year).

Import Prices by Country

The average assembled parquet panels import price stood at $X per ton in 2021, dropping by -24% against the previous year. In general, the import price saw a noticeable descent. The pace of growth was the most pronounced in 2020 when the average import price increased by 45%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+7.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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