Nigeria: Market for Rigid Tubes, Pipes and Hoses, of Other Polymers 2024

Market Size for Rigid Tubes, Pipes and Hoses, of Other Polymers in Nigeria

The Nigerien market for rigid tubes, pipes and hoses, of other polymers fell to $X in 2022, dropping by -3.9% 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). Over the period under review, consumption, however, showed a abrupt shrinkage. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Exports of Rigid Tubes, Pipes and Hoses, of Other Polymers

Exports from Nigeria

In 2022, shipments abroad of rigid tubes, pipes and hoses, of other polymers increased by 49% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 1,324%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of rigid tubes, pipes and hoses, of other polymers soared to $X in 2022. In general, exports, however, showed a drastic downturn. The growth pace was the most rapid in 2014 when exports increased by 446%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Benin (X tons) was the main destination for exports of rigid tubes, pipes and hoses, of other polymers from Nigeria, accounting for a 66% share of total exports. Moreover, exports of rigid tubes, pipes and hoses, of other polymers to Benin exceeded the volume sent to the second major destination, Cote d'Ivoire (X tons), fourfold. The third position in this ranking was held by Niger (X kg), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Benin amounted to +27.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+16.8% per year) and Niger (-2.3% per year).

In value terms, the largest markets for rigid tubes, pipes and hoses, of other polymers exported from Nigeria were Benin ($X), Cote d'Ivoire ($X) and Niger ($X), together comprising 90% of total exports.

Among the main countries of destination, Benin, with a CAGR of +22.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average export price for rigid tubes, pipes and hoses, of other polymers stood at $X per ton in 2022, dropping by -15.6% against the previous year. Overall, the export price saw a deep contraction. The most prominent rate of growth was recorded in 2015 an increase of 119% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Niger ($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 Burkina Faso (+86.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Rigid Tubes, Pipes and Hoses, of Other Polymers

Imports into Nigeria

In 2022, imports of rigid tubes, pipes and hoses, of other polymers into Nigeria rose to X tons, picking up by 2.4% against 2021. Overall, imports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 70% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, imports of rigid tubes, pipes and hoses, of other polymers plummeted to $X in 2022. Over the period under review, imports, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2020 when imports increased by 137% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of rigid tubes, pipes and hoses, of other polymers to Nigeria, accounting for a 82% share of total imports. Moreover, imports of rigid tubes, pipes and hoses, of other polymers from China exceeded the figures recorded by the second-largest supplier, Denmark (X tons), more than tenfold. The third position in this ranking was held by Saudi Arabia (X tons), with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+6.4% per year) and Saudi Arabia (-27.8% per year).

In value terms, China ($X) constituted the largest supplier of rigid tubes, pipes and hoses, of other polymers to Nigeria, comprising 50% of total imports. The second position in the ranking was taken by Denmark ($X), with an 8.4% share of total imports. It was followed by the United Arab Emirates, with a 0.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (-22.8% per year) and the United Arab Emirates (-30.5% per year).

Import Prices by Country

The average import price for rigid tubes, pipes and hoses, of other polymers stood at $X per ton in 2022, dropping by -31.3% against the previous year. In general, the import price showed a noticeable reduction. The most prominent rate of growth was recorded in 2014 an increase of 287%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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