Nigeria: Market for Aluminium Alloy Plates, Sheets and Strip of Thickness over 0.2 mm 2022

Market Size for Aluminium Alloy Plates, Sheets and Strip of Thickness over 0.2 mm in Nigeria

The Nigerien market for aluminium alloy plates, sheets and strip of thickness over X mm reduced remarkably to $X in 2021, falling by -X% 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). Overall, consumption saw a slight setback. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Exports of Aluminium Alloy Plates, Sheets and Strip of Thickness over 0.2 mm

Exports from Nigeria

In 2021, after two years of growth, there was significant decline in shipments abroad of aluminium alloy plates, sheets and strip of thickness over X mm, when their volume decreased by -X% to X tons. Over the period under review, exports faced a dramatic decline. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports of reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, exports of aluminium alloy plates, sheets and strip of thickness over X mm soared to $X in 2021. In general, exports faced a sharp downturn. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Benin (X tons) was the main destination for exports of aluminium alloy plates, sheets and strip of thickness over X mm from Nigeria, accounting for a approx. X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Benin amounted to +X%.

In value terms, Benin ($X) also remains the key foreign market for aluminium alloy plate, sheet and strip of thickness over X mm exports from Nigeria.

From 2012 to 2021, the average annual rate of growth in terms of value to Benin amounted to +X%.

Export Prices by Country

In 2021, the average export price for aluminium alloy plates, sheets and strip of thickness over X mm amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Benin.

From 2012 to 2021, the rate of growth in terms of prices for Benin amounted to +X% per year.

Imports of Aluminium Alloy Plates, Sheets and Strip of Thickness over 0.2 mm

Imports into Nigeria

In 2021, after three years of growth, there was significant decline in overseas purchases of aluminium alloy plates, sheets and strip of thickness over X mm, when their volume decreased by -X% to X tons. In general, imports showed a slight setback. The pace of growth was the most pronounced in 2018 when imports increased by X%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, imports of aluminium alloy plates, sheets and strip of thickness over X mm declined rapidly to $X in 2021. Overall, imports continue to indicate a mild setback. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Over the period under review, imports of reached the peak figure at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), South Korea (X tons) and Thailand (X tons) were the main suppliers of imports of aluminium alloy plates, sheets and strip of thickness over X mm to Nigeria, together comprising X% of total imports. Saudi Arabia, South Africa and Germany lagged somewhat behind, together comprising a further X 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest aluminium alloy plate, sheet and strip of thickness over X mm suppliers to Nigeria were South Korea ($X), China ($X) and Thailand ($X), with a combined X% share of total imports. These countries were followed by Saudi Arabia, South Africa and Germany, which together accounted for a further X terms of the main suppliers, Saudi Arabia, with a CAGR of +X%, recorded the highest rates of growth with regard to 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 import price for aluminium alloy plates, sheets and strip of thickness over X mm stood at $X per ton in 2021, rising by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton 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, the country with the highest price was Thailand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :