Nigeria: Market for Prefabricated Buildings Of Plastics, Concrete Or Aluminium 2024

Market Size for Prefabricated Buildings Of Plastics, Concrete Or Aluminium in Nigeria

In 2021, the Nigerien market for prefabricated buildings of plastics, concrete or aluminium decreased by -43.9% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a deep contraction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Exports of Prefabricated Buildings Of Plastics, Concrete Or Aluminium

Exports from Nigeria

For the third year in a row, Nigeria recorded decline in overseas shipments of prefabricated buildings of plastics, concrete or aluminium, which decreased by -80.6% to X kg in 2021. In general, exports saw a precipitous contraction. The growth pace was the most rapid in 2018 when exports increased by 1,166% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, exports of prefabricated buildings of plastics, concrete or aluminium shrank sharply to $X in 2021. Overall, exports faced a sharp curtailment. The growth pace was the most rapid in 2018 with an increase of 636%. Over the period under review, the exports of hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Sudan (X kg), Cote d'Ivoire (X kg) and Burkina Faso (X kg) were the main destinations of exports of prefabricated buildings of plastics, concrete or aluminium from Nigeria.

From 2012 to 2021, the biggest increases were recorded for Niger (with a CAGR of -1.9%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for prefabricated buildings of plastics, concrete or aluminium exported from Nigeria were Cote d'Ivoire ($X), Burkina Faso ($X) and Sudan ($X).

Burkina Faso, with a CAGR of +14.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average export price for prefabricated buildings of plastics, concrete or aluminium amounted to $X per ton, falling by -44.6% against the previous year. Overall, the export price showed a deep reduction. The pace of growth appeared the most rapid in 2019 when the average export price increased by 138% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+21.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prefabricated Buildings Of Plastics, Concrete Or Aluminium

Imports into Nigeria

In 2021, supplies from abroad of prefabricated buildings of plastics, concrete or aluminium decreased by -46.7% to X tons, falling for the second consecutive year after two years of growth. Overall, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 83%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, imports of prefabricated buildings of plastics, concrete or aluminium contracted markedly to $X in 2021. Over the period under review, imports continue to indicate a abrupt slump. The growth pace was the most rapid in 2013 when imports increased by 147% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of prefabricated buildings of plastics, concrete or aluminium to Nigeria, accounting for a 45% share of total imports. Moreover, imports of prefabricated buildings of plastics, concrete or aluminium from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. Egypt (X tons) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+9.4% per year) and Egypt (+9.7% per year).

In value terms, China ($X) constituted the largest supplier of prefabricated buildings of plastics, concrete or aluminium to Nigeria, comprising 41% of total imports. The second position in the ranking was taken by Turkey ($X), with a 12% share of total imports. It was followed by South Africa, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+13.9% per year) and South Africa (-8.3% per year).

Import Prices by Country

The average import price for prefabricated buildings of plastics, concrete or aluminium stood at $X per ton in 2021, picking up by 14% against the previous year. In general, the import price, however, showed a pronounced setback. The pace of growth was the most pronounced in 2020 when the average import price increased by 84%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform