Nigeria: Market for Drawn Glass And Blown Glass 2024

Market Size for Drawn Glass And Blown Glass in Nigeria

The Nigerien market for drawn glass and blown glass was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption showed buoyant growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Production of Drawn Glass And Blown Glass in Nigeria

In value terms, drawn glass and blown glass production soared to $X in 2021 estimated in export price. Over the period under review, production, however, saw a perceptible descent. The pace of growth was the most pronounced in 2017 with an increase of 71%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Exports of Drawn Glass And Blown Glass

Exports from Nigeria

In 2021, drawn glass and blown glass exports from Nigeria skyrocketed to X square meters, rising by 224% against the previous year's figure. Over the period under review, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 264% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, drawn glass and blown glass exports surged to $X in 2021. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 374% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Chile (X square meters) was the main destination for drawn glass and blown glass exports from Nigeria, accounting for a 76% share of total exports. Moreover, drawn glass and blown glass exports to Chile exceeded the volume sent to the second major destination, Niger (X square meters), fivefold. The third position in this ranking was held by Ghana (X square meters), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to Chile was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+19.2% per year) and Ghana (+75.9% per year).

In value terms, Chile ($X) emerged as the key foreign market for drawn glass and blown glass exports from Nigeria, comprising 76% of total exports. The second position in the ranking was taken by Niger ($X), with a 14% share of total exports. It was followed by Ghana, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Chile was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+24.6% per year) and Ghana (+86.8% per year).

Export Prices by Country

The average export price for drawn glass and blown glass stood at $X per square meter in 2021, picking up by 9.7% against the previous year. In general, export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the average export price increased by 30% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Chile ($X per square meter) and Niger ($X per square meter), while the average price for exports to Benin ($X per square meter) and Ghana ($X per square meter) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Drawn Glass And Blown Glass

Imports into Nigeria

Drawn glass and blown glass imports into Nigeria expanded rapidly to X square meters in 2021, with an increase of 15% on 2020. Over the period under review, imports, however, faced a precipitous slump. The most prominent rate of growth was recorded in 2014 with an increase of 46,627% against the previous year. As a result, imports attained the peak of X square meters. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, drawn glass and blown glass imports skyrocketed to $X in 2021. In general, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by 8,873%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X square meters) constituted the largest drawn glass and blown glass supplier to Nigeria, accounting for a 37% share of total imports. Moreover, drawn glass and blown glass imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X square meters), twofold. Lebanon (X square meters) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -36.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+38.4% per year) and Lebanon (+71.4% per year).

In value terms, China ($X), the UK ($X) and the Netherlands ($X) constituted the largest drawn glass and blown glass suppliers to Nigeria, together accounting for 70% of total imports. These countries were followed by Lebanon, South Africa, Turkey and Italy, which together accounted for a further 25%.

Lebanon, with a CAGR of +106.5%, saw 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

The average import price for drawn glass and blown glass stood at $X per square meter in 2021, increasing by 44% against the previous year. Overall, the import price recorded a significant expansion. The growth pace was the most rapid in 2013 an increase of 702%. The import price peaked in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+51.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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