
Nigeria - Electrical Insulating Fittings of Plastics - Market Analysis, Forecast, Size, Trends and Insights
Nigeria: Electrical Insulating Fittings Market 2023
Electrical Insulating Fittings Market Size in Nigeria
In 2021, the Nigerien electrical insulating fittings market increased by 204% to $X, rising for the fourth year in a row after three years of decline. Overall, consumption saw a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.
Electrical Insulating Fittings Exports
Exports from Nigeria
In 2021, the amount of electrical insulating fittings of plastics exported from Nigeria skyrocketed to X kg, picking up by 33% against 2020. Over the period under review, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 536%. As a result, the exports attained the peak of X kg. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.
In value terms, electrical insulating fittings exports totaled $X in 2021. Overall, exports, however, saw a sharp decline. The pace of growth appeared the most rapid in 2016 when exports increased by 493%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.
Exports by Country
Ghana (X kg), Cote d'Ivoire (X kg) and Angola (X kg) were the main destinations of electrical insulating fittings exports from Nigeria, with a combined 75% share of total exports.
From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Angola (with a CAGR of 0.0%), while the other leaders experienced a decline.
In value terms, the largest markets for electrical insulating fittings exported from Nigeria were Cote d'Ivoire ($X) and Ghana ($X).
In terms of the main countries of destination, Ghana, with a CAGR of -8.1%, saw the highest rates of growth with regard to the value of exports, over the period under review.
Export Prices by Country
In 2021, the average electrical insulating fittings export price amounted to $X per ton, waning by -37% against the previous year. Overall, the export price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when the average export price increased by 104% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.
Prices varied noticeably country of destination: the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Angola ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+9.8%).
Electrical Insulating Fittings Imports
Imports into Nigeria
In 2021, overseas purchases of electrical insulating fittings of plastics increased by 204% to X tons, rising for the fourth consecutive year after five years of decline. Overall, imports posted prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, electrical insulating fittings imports soared to $X in 2021. In general, imports enjoyed a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
Imports by Country
In 2021, China (X tons) was the main supplier of electrical insulating fittings to Nigeria, with a approx. 98% share of total imports.
From 2012 to 2021, the average annual growth rate of volume from China totaled +14.1%.
In value terms, China ($X) constituted the largest supplier of electrical insulating fittings to Nigeria.
From 2012 to 2021, the average annual growth rate of value from China amounted to +15.1%.
Import Prices by Country
The average electrical insulating fittings import price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, continues to indicate a slight slump. The most prominent rate of growth was recorded in 2015 when the average import price increased by 52% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for China.
From 2012 to 2021, the rate of growth in terms of prices for China amounted to +0.8% per year.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the electrical insulating 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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