Report Update Apr 1, 2024

Nigeria - Granite Blocks and Slabs - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Granite Block Market 2024

Granite Block Market Size in Nigeria

In 2022, the Nigerien granite block market decreased by -3.8% to $X, falling for the second year in a row after five years of growth. Over the period under review, consumption continues to indicate a slight slump. The most prominent rate of growth was recorded in 2019 when the market value increased by 6.5%. Granite block consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Granite Block Production in Nigeria

In value terms, granite block production shrank to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the production volume increased by 9.2%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Granite Block Exports

Exports from Nigeria

In 2022, approx. X tons of granite blocks and slabs were exported from Nigeria; surging by 2.1% on the previous year's figure. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 475% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, granite block exports stood at $X in 2022. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 473%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for granite block exports from Nigeria, with a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China totaled +33.3%.

In value terms, China ($X) also remains the key foreign market for granite blocks and slabs exports from Nigeria.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +27.8%.

Export Prices by Country

The average granite block export price stood at $X per ton in 2022, falling by -1.9% against the previous year. Overall, the export price saw a pronounced decrease. The pace of growth was the most pronounced in 2017 when the average export price increased by 44%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -4.2% per year.

Granite Block Imports

Imports into Nigeria

In 2022, granite block imports into Nigeria fell to X tons, waning by -13.8% on 2021. Overall, imports faced a sharp downturn. The pace of growth was the most pronounced in 2020 with an increase of 137% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, granite block imports shrank to $X in 2022. Over the period under review, imports recorded a dramatic setback. The most prominent rate of growth was recorded in 2020 with an increase of 41% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of granite block to Nigeria, with a 52% share of total imports. Moreover, granite block imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -27.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-20.8% per year) and the United Arab Emirates (+24.6% per year).

In value terms, China ($X) constituted the largest supplier of granite blocks and slabs to Nigeria, comprising 79% of total imports. The second position in the ranking was held by South Korea ($X), with a 12% share of total imports. It was followed by Italy, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-9.7% per year) and Italy (-35.0% per year).

Import Prices by Country

In 2022, the average granite block import price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the import price, however, enjoyed tangible growth. The pace of growth appeared the most rapid in 2018 when the average import price increased by 61% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+11.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for granite blocks and slabs in the world?

China remains the largest granite block consuming country worldwide, comprising approx. 24% of total volume. Moreover, granite block consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. The third position in this ranking was taken by India, with a 7.6% share.

What are the largest producers of granite blocks and slabs in the world?

The countries with the highest volumes of production in 2022 were India, Brazil and China, together comprising 36% of global production. The United States, Angola, Japan, Italy, Russia, Portugal, Pakistan, Turkey, Mexico and Norway lagged somewhat behind, together accounting for a further 33%.

What are the leading suppliers of granite blocks and slabs to Nigeria?

In value terms, China constituted the largest supplier of granite blocks and slabs to Nigeria, comprising 79% of total imports. The second position in the ranking was held by South Korea, with a 12% share of total imports. It was followed by Italy, with a 4.5% share.

What are the leading importers of granite blocks and slabs from Nigeria?

In value terms, China remains the key foreign market for granite blocks and slabs exports from Nigeria.

What is the average export price for granite blocks and slabs in Nigeria?

In 2022, the average granite block export price amounted to $217 per ton, waning by -1.9% against the previous year.

What is the average import price for granite blocks and slabs in Nigeria?

In 2022, the average granite block import price amounted to $501 per ton, approximately reflecting the previous year.

This report provides an in-depth analysis of the granite block 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 08111236 - Granite merely cut into rectangular (including square) blocks or slabs

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