Report Update Nov 1, 2024

Nigeria - Spectacle Lenses of Glass or Other Materials - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Nigeria

The Nigerien spectacle glass lenses market surged to $X in 2022, picking up by 37% 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 showed a resilient expansion. Spectacle glass lenses consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Spectacle Glass Lenses Exports

Exports from Nigeria

In 2022, approx. X units of spectacle lenses of glass or other materials were exported from Nigeria; with an increase of 468% against the year before. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 845% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, spectacle glass lenses exports soared to $X in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 733% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire (X units) was the main destination for spectacle glass lenses exports from Nigeria, with a 99% share of total exports. It was followed by Ghana (X units), with a 1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Cote d'Ivoire stood at +33.7%.

In value terms, Cote d'Ivoire ($X) remains the key foreign market for spectacle lenses of glass or other materials exports from Nigeria, comprising 98% of total exports. The second position in the ranking was held by Ghana ($X), with a 1.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Cote d'Ivoire stood at +36.8%.

Export Prices by Country

The average spectacle glass lenses export price stood at $X per unit in 2022, which is down by -29.1% against the previous year. Overall, the export price, however, posted strong growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 64%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then contracted markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($X per unit), while the average price for exports to Cote d'Ivoire amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cameroon (+58.9%), while the prices for the other major destinations experienced more modest paces of growth.

Spectacle Glass Lenses Imports

Imports into Nigeria

Spectacle glass lenses imports into Nigeria soared to X units in 2022, increasing by 60% on the year before. Over the period under review, imports posted a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 393%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, spectacle glass lenses imports skyrocketed to $X in 2022. In general, imports recorded resilient growth. The pace of growth appeared the most rapid in 2017 when imports increased by 372%. Imports peaked at $X in 2020; afterwards, it flattened through to 2022.

Imports by Country

India (X units), China (X units) and Thailand (X units) were the main suppliers of spectacle glass lenses imports to Nigeria, with a combined 67% share of total imports. Indonesia, the United Arab Emirates, South Africa and Israel lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +163.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest spectacle glass lenses suppliers to Nigeria were India ($X), China ($X) and Indonesia ($X), with a combined 56% share of total imports.

Indonesia, with a CAGR of +130.9%, saw the highest rates of growth with regard to 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

The average spectacle glass lenses import price stood at $X per unit in 2022, reducing by -21.3% against the previous year. In general, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spectacle glass lenses import price increased by +50.6% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by 65%. As a result, import price attained the peak level of $X per unit, and then plummeted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4,362.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for spectacle lenses of glass or other materials in the world?

South Africa remains the largest spectacle glass lenses consuming country worldwide, accounting for 86% of total volume. It was followed by China, with a 2% share of total consumption.

What are the largest producers of spectacle lenses of glass or other materials in the world?

China constituted the country with the largest volume of spectacle glass lenses production, accounting for 23% of total volume. Moreover, spectacle glass lenses production in China exceeded the figures recorded by the second-largest producer, India, twofold. The third position in this ranking was occupied by the Philippines, with a 6.8% share.

What are the leading suppliers of spectacle lenses of glass or other materials to Nigeria?

In value terms, the United Arab Emirates constituted the largest supplier of spectacle glass lenses to Nigeria, comprising 58% of total imports. The second position in the ranking was occupied by China, with a 19% share of total imports. It was followed by Thailand, with a 9.2% share.

What are the leading importers of spectacle lenses of glass or other materials from Nigeria?

In value terms, Cote d'Ivoire remains the key foreign market for spectacle glass lenses exports from Nigeria, comprising 76% of total exports. The second position in the ranking was occupied by Ghana $798), with a 20% share of total exports. It was followed by Benin, with a 2.5% share.

What is the average export price for spectacle lenses of glass or other materials in Nigeria?

In 2021, the average spectacle glass lenses export price amounted to $16,975 per ton, growing by 3.3% against the previous year.

What is the average import price for spectacle lenses of glass or other materials in Nigeria?

In 2021, the average spectacle glass lenses import price amounted to $66,648 per ton, jumping by 121% against the previous year.

This report provides an in-depth analysis of the spectacle glass lenses market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32504153 - Unmounted spectacle lenses other than for the correction of vision
Prodcom 32504155 - Unmounted single focal spectacle lenses for the correction of vision, with both sides finished
Prodcom 32504159 - Unmounted spectacle lenses for the correction of vision, with both sides finished other than single focal lenses
Prodcom 32504170 - Unmounted spectacle lenses for the correction of vision, other than those with both sides finished

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023