Nigeria: Plaster Article Market 2024

Plaster Article Market Size in Nigeria

In 2022, after two years of growth, there was significant decline in the Nigerien plaster article market, when its value decreased by X% to $X. Overall, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then contracted dramatically in the following year.

Plaster Article Exports

Exports from Nigeria

In 2022, the amount of articles of plaster or of compositions based on plaster exported from Nigeria plummeted to X square meters, reducing by X% compared with 2021. In general, exports showed a pronounced decline. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X square meters in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, plaster article exports dropped to $X in 2022. Overall, exports recorded a abrupt decrease. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Benin (X square meters) was the main destination for plaster article exports from Nigeria, with a X% share of total exports. Moreover, plaster article exports to Benin exceeded the volume sent to the second major destination, Niger (X square meters), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Benin totaled X%.

In value terms, the largest markets for plaster article exported from Nigeria were Benin ($X) and Niger ($X).

Niger, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average plaster article export price stood at $X per square meter in 2022, increasing by X% against the previous year. Overall, the export price, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2019 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per square meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per square meter), while the average price for exports to Benin amounted to $X per square meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (X%).

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Plaster Article Imports

Imports into Nigeria

In 2022, overseas purchases of articles of plaster or of compositions based on plaster decreased by X% to X square meters for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X square meters in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, plaster article imports shrank remarkably to $X in 2022. Over the period under review, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then fell sharply in the following year.

Imports by Country

In 2022, China (X square meters) constituted the largest supplier of plaster article to Nigeria, with a X% share of total imports. Moreover, plaster article imports from China exceeded the figures recorded by the second-largest supplier, Egypt (X square meters), twofold. The third position in this ranking was held by Turkey (X square meters), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (X% per year) and Turkey (X% per year).

In value terms, the largest plaster article suppliers to Nigeria were China ($X), Turkey ($X) and Italy ($X), together comprising X% of total imports. Egypt, France, Thailand, Algeria, Spain and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

Egypt, with a CAGR of X%, recorded 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

In 2022, the average plaster article import price amounted to $X per square meter, growing by X% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plaster article import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per square meter), while the price for Egypt ($X per square meter) was amongst the lowest.

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

Source: IndexBox Platform

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