Nigeria: Market for Prepared Additives For Cements, Mortars Or Concretes 2024

Market Size for Prepared Additives For Cements, Mortars Or Concretes in Nigeria

The Nigerien prepared additives for cements market soared to $X in 2022, rising by 21% 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). In general, consumption saw a mild increase. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Exports of Prepared Additives For Cements, Mortars Or Concretes

Exports from Nigeria

In 2022, after four years of growth, there was significant decline in shipments abroad of prepared additives for cements, mortars or concretes, when their volume decreased by -42.3% to X tons. In general, exports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 551% against the previous year. As a result, the exports reached the peak of X tons, and then reduced remarkably in the following year.

In value terms, prepared additives for cements exports declined rapidly to $X in 2022. Over the period under review, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 781%. As a result, the exports attained the peak of $X, and then shrank rapidly in the following year.

Exports by Country

South Africa (X tons), Benin (X tons) and Togo (X tons) were the main destinations of prepared additives for cements exports from Nigeria, with a combined 89% share of total exports. Ghana lagged somewhat behind, accounting for a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of +17.2%), while the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) remains the key foreign market for prepared additives for cements, mortars or concretes exports from Nigeria, comprising 54% of total exports. The second position in the ranking was held by Benin ($X), with a 24% share of total exports. It was followed by Togo, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Africa totaled +14.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (+30.6% per year) and Togo (+19.7% per year).

Export Prices by Country

The average prepared additives for cements export price stood at $X per ton in 2022, which is down by -3.5% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 90% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to Ghana ($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 Benin (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Additives For Cements, Mortars Or Concretes

Imports into Nigeria

In 2022, the amount of prepared additives for cements, mortars or concretes imported into Nigeria expanded markedly to X tons, growing by 13% on the year before. Over the period under review, imports posted notable growth. The most prominent rate of growth was recorded in 2018 when imports increased by 89% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, prepared additives for cements imports skyrocketed to $X in 2022. In general, imports recorded a mild expansion. The most prominent rate of growth was recorded in 2018 with an increase of 105%. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of prepared additives for cements to Nigeria, accounting for a 47% share of total imports. Moreover, prepared additives for cements imports from China exceeded the figures recorded by the second-largest supplier, South Africa (X tons), fivefold. The third position in this ranking was held by Russia (X tons), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +41.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+40.0% per year) and Russia (+72.9% per year).

In value terms, the largest prepared additives for cements suppliers to Nigeria were China ($X), South Africa ($X) and Russia ($X), together accounting for 51% of total imports.

Russia, with a CAGR of +62.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average prepared additives for cements import price amounted to $X per ton, rising by 5.3% against the previous year. Overall, the import price, however, recorded a mild shrinkage. The pace of growth appeared the most rapid in 2019 when the average import price increased by 25% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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