Nigeria: Market for Prepared Glues And Other Prepared Adhesives 2024

Market Size for Prepared Glues And Other Prepared Adhesives in Nigeria

After three years of growth, the Nigerien market for prepared glues and other prepared adhesives decreased by -24.2% to $X in 2021. In general, consumption, however, saw a tangible increase. Consumption of peaked at $X in 2020, and then dropped significantly in the following year.

Exports of Prepared Glues And Other Prepared Adhesives

Exports from Nigeria

Exports of prepared glues and other prepared adhesives from Nigeria soared to X tons in 2021, rising by 47% compared with the year before. In general, exports, however, continue to indicate a slight contraction. The growth pace was the most rapid in 2013 with an increase of 134% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of prepared glues and other prepared adhesives soared to $X in 2021. Over the period under review, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 1,613%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Ghana (X tons), Benin (X tons) and Cabo Verde (X tons) were the main destinations of exports of prepared glues and other prepared adhesives from Nigeria, with a combined 99% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Cabo Verde (with a CAGR of +427.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Benin ($X) and Cabo Verde ($X) were the largest markets for prepared glues and other prepared adhesives exported from Nigeria worldwide.

Cabo Verde, with a CAGR of +357.3%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the average export price for prepared glues and other prepared adhesives amounted to $X per ton, rising by 43% against the previous year. In general, the export price, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2013 when the average export price increased by 634%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while the average price for exports to Benin ($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 Congo (-1.0%), while the prices for the other major destinations experienced a decline.

Imports of Prepared Glues And Other Prepared Adhesives

Imports into Nigeria

In 2021, after three years of growth, there was significant decline in supplies from abroad of prepared glues and other prepared adhesives, when their volume decreased by -23.8% to X tons. Overall, imports, however, showed a perceptible increase. The most prominent rate of growth was recorded in 2018 with an increase of 257%. Over the period under review, imports of attained the peak figure at X tons in 2020, and then dropped significantly in the following year.

In value terms, imports of prepared glues and other prepared adhesives dropped dramatically to $X in 2021. In general, total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +51.6% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 75% against the previous year. As a result, imports reached the peak of $X, and then declined sharply in the following year.

Imports by Country

China (X tons), India (X tons) and Italy (X tons) were the main suppliers of imports of prepared glues and other prepared adhesives to Nigeria, with a combined 40% share of total imports. These countries were followed by Turkey, Thailand, New Zealand, Indonesia, Germany, Egypt, the United States, South Africa, the United Arab Emirates and Taiwan (Chinese), which together accounted for a further 17%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Egypt (with a CAGR of +104.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Turkey ($X) appeared to be the largest prepared glues and other prepared adhesives suppliers to Nigeria, with a combined 68% share of total imports. Thailand, the United States, Germany, Egypt, the United Arab Emirates, South Africa, Italy, Taiwan (Chinese), Indonesia and New Zealand lagged somewhat behind, together comprising a further 23%.

Egypt, with a CAGR of +95.5%, saw 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 2021, the average import price for prepared glues and other prepared adhesives amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 164%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average 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 the United States ($X per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :