Nigeria: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in Nigeria

The Nigerien metal frame upholstered seat market dropped significantly to $X in 2021, with a decrease of -15.5% against the previous year. Over the period under review, consumption, however, posted strong growth. Metal frame upholstered seat consumption peaked at $X in 2020, and then reduced dramatically in the following year.

Production of Upholstered Seats With Metal Frames in Nigeria

In value terms, metal frame upholstered seat production declined markedly to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 146% against the previous year. Metal frame upholstered seat production peaked at $X in 2020, and then contracted rapidly in the following year.

Exports of Upholstered Seats With Metal Frames

Exports from Nigeria

In 2021, metal frame upholstered seat exports from Nigeria skyrocketed to X units, rising by 156% against 2020 figures. Over the period under review, exports saw a significant increase. The growth pace was the most rapid in 2018 when exports increased by 808%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, metal frame upholstered seat exports soared to $X in 2021. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 705%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Niger (X units), Benin (X units) and Mozambique (X units) were the main destinations of metal frame upholstered seat exports from Nigeria, together comprising 97% of total exports.

From 2012 to 2021, the biggest increases were recorded for Mozambique (with a CAGR of +848.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Benin ($X) remains the key foreign market for upholstered seats with metal frames exports from Nigeria, comprising 92% of total exports. The second position in the ranking was taken by Niger ($X), with a 3.9% share of total exports. It was followed by Mozambique, with a 3% share.

From 2012 to 2021, the average annual growth rate of value to Benin amounted to +51.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+60.2% per year) and Mozambique (+19.9% per year).

Export Prices by Country

In 2021, the average metal frame upholstered seat export price amounted to $X per unit, with a decrease of -25% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 350% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the average 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 Benin ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+8.0%), while the prices for the other major destinations experienced a decline.

Imports of Upholstered Seats With Metal Frames

Imports into Nigeria

In 2021, overseas purchases of upholstered seats with metal frames decreased by -80.5% to X units for the first time since 2017, thus ending a three-year rising trend. Over the period under review, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 7,782% against the previous year. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, metal frame upholstered seat imports dropped significantly to $X in 2021. Overall, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2018 when imports increased by 1,521%. Imports peaked at $X in 2020, and then fell remarkably in the following year.

Imports by Country

In 2021, China (X units) constituted the largest supplier of metal frame upholstered seat to Nigeria, accounting for a 68% share of total imports. Moreover, metal frame upholstered seat imports from China exceeded the figures recorded by the second-largest supplier, Denmark (X units), sixfold. The third position in this ranking was taken by Saudi Arabia (X units), with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +39.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+75.4% per year) and Saudi Arabia (+40.3% per year).

In value terms, the largest metal frame upholstered seat suppliers to Nigeria were Mexico ($X), Denmark ($X) and China ($X), with a combined 25% share of total imports.

Among the main suppliers, Denmark, with a CAGR of +44.4%, saw the highest growth rate of the value of imports, 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 metal frame upholstered seat import price amounted to $X per unit, with an increase of 125% against the previous year. In general, the import price, however, continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 1,498%. Over the period under review, average import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Mexico ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+15.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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