Nigeria: Wooden Furniture Treatments Market 2022

Wooden Furniture Treatments Market Size in Nigeria

In 2021, the Nigerien wooden furniture treatments market increased by X% to $X, rising for the fourth consecutive year after three years of decline. Overall, consumption continues to indicate a buoyant expansion. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Wooden Furniture Treatments Exports

Exports from Nigeria

In 2021, approx. X kg of polishes and creams for wooden furniture and floors were exported from Nigeria; remaining constant against 2020 figures. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked at X kg in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, wooden furniture treatments exports fell modestly to $X in 2021. Over the period under review, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Benin (X kg) was the main destination for wooden furniture treatments exports from Nigeria, accounting for a X% share of total exports. Moreover, wooden furniture treatments exports to Benin exceeded the volume sent to the second major destination, Niger (X kg), more than tenfold.

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

In value terms, Benin ($X) remains the key foreign market for wooden furniture treatments exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Niger ($X), with a X% share of total exports.

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 wooden furniture treatments export price amounted to $X per ton, remaining constant against the previous year. Overall, the export price saw a abrupt descent. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Benin ($X per ton), while the average price for exports to Niger totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Benin (-X%).

Wooden Furniture Treatments Imports

Imports into Nigeria

Wooden furniture treatments imports into Nigeria skyrocketed to X tons in 2021, increasing by X% against the previous year. Over the period under review, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, wooden furniture treatments imports rose to $X in 2021. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of wooden furniture treatments to Nigeria, with a X% share of total imports. Moreover, wooden furniture treatments imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from India amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and Pakistan (X% per year).

In value terms, India ($X) constituted the largest supplier of wooden furniture treatments to Nigeria, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports.

From 2012 to 2021, the average annual growth rate of value from India totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and Pakistan (X% per year).

Import Prices by Country

In 2021, the average wooden furniture treatments import price amounted to $X per ton, declining by -X% against the previous year. Overall, the import price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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