Report Update: Apr 27, 2024

Nigeria - Plastic Fittings For Furniture - Market Analysis, Forecast, Size, Trends And Insights

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Plastic Furniture Fittings Price in Nigeria - 2022

Plastic Furniture Fittings Price in Nigeria (CIF) - 2022

The average plastic furniture fittings import price stood at $846 per ton in 2022, reducing by -46.2% against the previous year. Overall, the import price continues to indicate a abrupt decrease. The growth pace was the most rapid in 2014 when the average import price increased by 32% against the previous year. Over the period under review, average import prices reached the peak figure at $5,222 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($4,974 per ton), while the price for Belgium ($582 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+0.4%), while the prices for the other major suppliers experienced a decline.

Plastic Furniture Fittings Price in Nigeria (FOB) - 2022

In 2022, the average plastic furniture fittings export price amounted to $5,295 per ton, with an increase of 5% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 331%. As a result, the export price attained the peak level of $15,768 per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($42,335 per ton), while the average price for exports to Niger ($184 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 Benin (+4.5%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Furniture Fittings Imports in Nigeria

In 2022, the amount of plastic fittings for furniture imported into Nigeria surged to 857 tons, increasing by 126% on 2021. Over the period under review, imports saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 392%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, plastic furniture fittings imports surged to $725K in 2022. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 330% against the previous year. As a result, imports attained the peak of $1.1M. From 2021 to 2022, the growth of imports failed to regain momentum.

Import of Plastic Furniture Fittings in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	108	771	187	488	65.3%
Germany	39.1	124	113	39.4	0.3%
Belgium	5.2	14.1	19.7	28.4	76.1%
Others	109	213	278	170	16.0%
Total	261	1,122	597	725	40.6%

Top Suppliers of Plastic Furniture Fittings to Nigeria in 2022:

China (766.0 tons)
Belgium (48.8 tons)
Germany (7.6 tons)

Plastic Furniture Fittings Exports in Nigeria

In 2022, overseas shipments of plastic fittings for furniture were finally on the rise to reach 645 kg after two years of decline. Over the period under review, exports, however, continue to indicate a sharp setback.

In value terms, plastic furniture fittings exports skyrocketed to $3.4K in 2022. In general, exports, however, saw a precipitous curtailment.

Export of Plastic Furniture Fittings in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Cote d'Ivoire	5.5	4.8	0.1	2.6	-22.1%
Ghana	2.6	1.7	N/A	0.7	-35.4%
Benin	0.1	N/A	N/A	N/A	0%
Niger	N/A	N/A	N/A	N/A	0%
Others	N/A	N/A	N/A	0.1	0%
Total	8.1	6.6	0.2	3.4	-25.1%

Top Export Markets for Plastic Furniture Fittings from Nigeria in 2022:

Ghana (378.0 kg)
Niger (192.0 kg)
Cote d'Ivoire (61.0 kg)
Benin (10.0 kg)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the plastic furniture fittings 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 22292610 - Plastic fittings for furniture, coachwork or the like

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