Report Update Nov 1, 2024

Nigeria - Voiles, Webs, Mats and Other Articles of Glass Fibers - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Glass Fiber Market 2024

Glass Fiber Market Size in Nigeria

For the fourth consecutive year, the Nigerien glass fiber market recorded growth in sales value, which increased by 32% to $X in 2021. In general, consumption, however, continues to indicate a abrupt downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Glass Fiber Exports

Exports from Nigeria

After two years of decline, shipments abroad of voiles, webs, mats and other articles of glass fibers increased by 54% to X tons in 2021. Over the period under review, exports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2018 with an increase of 1,274%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, glass fiber exports reduced to $X in 2021. In general, exports, however, recorded a deep downturn. The growth pace was the most rapid in 2017 when exports increased by 186%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire (X tons) was the main destination for glass fiber exports from Nigeria, with a 94% share of total exports. Moreover, glass fiber exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Canada (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Cote d'Ivoire amounted to +98.3%.

In value terms, Cote d'Ivoire ($X) remains the key foreign market for voiles, webs, mats and other articles of glass fibers exports from Nigeria, comprising 96% of total exports. The second position in the ranking was taken by Canada ($X), with less than 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Cote d'Ivoire amounted to +39.2%.

Export Prices by Country

In 2021, the average glass fiber export price amounted to $X per ton, dropping by -36.8% against the previous year. Over the period under review, the export price continues to indicate a deep downturn. The growth pace was the most rapid in 2019 when the average export price increased by 136% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, 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 Cote d'Ivoire ($X per ton), while the average price for exports to Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (-29.8%).

Glass Fiber Imports

Imports into Nigeria

Glass fiber imports into Nigeria stood at X tons in 2021, increasing by 9.3% on 2020. Over the period under review, imports, however, showed a deep reduction. The growth pace was the most rapid in 2020 with an increase of 79% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, glass fiber imports skyrocketed to $X in 2021. Overall, imports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 86%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of glass fiber to Nigeria, accounting for a 21% share of total imports. Moreover, glass fiber imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. Russia (X tons) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+1.1% per year) and Russia (0.0% per year).

In value terms, India ($X), China ($X) and Singapore ($X) were the largest glass fiber suppliers to Nigeria, together comprising 28% of total imports.

Among the main suppliers, Singapore, with a CAGR of +46.5%, recorded 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

The average glass fiber import price stood at $X per ton in 2021, growing by 35% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, glass fiber import price increased by +40.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 36%. The import price peaked in 2021 and is expected to retain growth in the near future.

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 the United States ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+21.0%), 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 voiles, webs, mats and other articles of glass fibers in the world?

China constituted the country with the largest volume of glass fiber consumption, accounting for 21% of total volume. Moreover, glass fiber consumption in China exceeded the figures recorded by the second-largest consumer, France, twofold. India ranked third in terms of total consumption with an 8.4% share.

What are the largest producers of voiles, webs, mats and other articles of glass fibers in the world?

China remains the largest glass fiber producing country worldwide, accounting for 31% of total volume. Moreover, glass fiber production in China exceeded the figures recorded by the second-largest producer, India, fourfold. France ranked third in terms of total production with a 6.6% share.

What are the leading suppliers of voiles, webs, mats and other articles of glass fibers to Nigeria?

In value terms, the largest glass fiber suppliers to Nigeria were Saudi Arabia, India and Malaysia, together comprising 51% of total imports.

What is the average export price for voiles, webs, mats and other articles of glass fibers in Nigeria?

The average glass fiber export price stood at $1,363 per ton in 2021, shrinking by -83.8% against the previous year.

What is the average import price for voiles, webs, mats and other articles of glass fibers in Nigeria?

In 2021, the average glass fiber import price amounted to $2,911 per ton, declining by -19.2% against the previous year.

This report provides an in-depth analysis of the glass fiber 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 23141210 -
Prodcom 23141230 -
Prodcom 23141250 - Non-woven glass fibre webs, felts, mattresses and boards
Prodcom 23141293 -
Prodcom 23141295 -
Prodcom 23141299 -

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