Latest Report Update: Jan 13, 2020

Nigeria - Wood-Based Panels - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact

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Nigeria: Wood-Based Panels Market Overview 2020

Wood-Based Panels Market Size in Nigeria

The revenue of the wood-based panels market in Nigeria amounted to $X in 2018, lowering by -X% against the previous year. In general, wood-based panels consumption, however, continues to indicate remarkable growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. In that year, the wood-based panels market attained its peak level of $X. From 2014 to 2018, the growth of the wood-based panels market failed to regain its momentum.

Wood-Based Panels Production in Nigeria

In value terms, wood-based panels production totaled $X in 2018 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The growth pace was the most rapid in 2014 with an increase of X% y-o-y. In that year, wood-based panels production reached its peak level of $X. From 2015 to 2018, wood-based panels production growth remained at a lower figure.

Wood-Based Panels Exports

Exports from Nigeria

Wood-based panels exports from Nigeria totaled X cubic meters in 2018, growing by X% against the previous year. In general, wood-based panels exports continue to indicate a skyrocketing expansion. The growth pace was the most rapid in 2018 with an increase of X% year-to-year. In that year, wood-based panels exports reached their peak and are likely to continue its growth in the immediate term.

In value terms, wood-based panels exports amounted to $X in 2018. Over the period under review, wood-based panels exports continue to indicate mild growth. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. Over the period under review, wood-based panels exports attained their maximum in 2018 and are expected to retain its growth in the near future.

Exports by Country

China, Hong Kong SAR (X cubic meters) was the main destination for wood-based panels exports from Nigeria, accounting for a X% share of total exports. Moreover, wood-based panels exports to China, Hong Kong SAR exceeded the volume sent to the second major destination, India (X cubic meters), twofold. The third position in this ranking was occupied by China (X cubic meters), with a X% share.

From 2007 to 2018, the average annual growth rate of volume to China, Hong Kong SAR stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-X% per year) and China (-X% per year).

In value terms, India ($X) emerged as the key foreign market for wood-based panels exports from Nigeria, comprising X% of total wood-based panels exports. The second position in the ranking was occupied by China ($X), with a X% share of total exports. It was followed by China, Hong Kong SAR, with a X% share.

From 2007 to 2018, the average annual growth rate of value to India totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-X% per year) and China, Hong Kong SAR (+X% per year).

Export Prices by Country

The average wood-based panels export price stood at $X per cubic meter in 2018, dropping by -X% against the previous year. In general, the wood-based panels export price continues to indicate a sharp reduction. The pace of growth appeared the most rapid in 2016 an increase of X% y-o-y. Over the period under review, the average export prices for wood-based panels reached their maximum at $X per cubic meter in 2008; however, from 2009 to 2018, export prices failed to regain their momentum.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was India ($X per cubic meter), while the average price for exports to the Czech Republic ($X per cubic meter) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to India (+X% per year), while the prices for the other major destinations experienced more modest paces of growth.

Wood-Based Panels Imports

Imports into Nigeria

Wood-based panels imports into Nigeria stood at X cubic meters in 2018, rising by X% against the previous year. Overall, wood-based panels imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, wood-based panels imports attained their maximum at X cubic meters in 2011; however, from 2012 to 2018, imports remained at a lower figure.

In value terms, wood-based panels imports amounted to $X in 2018. Overall, wood-based panels imports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, wood-based panels imports reached their peak figure at $X in 2014; however, from 2015 to 2018, imports failed to regain their momentum.

Imports by Country

In 2018, Ghana (X cubic meters) constituted the largest wood-based panels supplier to Nigeria, with a X% share of total imports. Moreover, wood-based panels imports from Ghana exceeded the figures recorded by the second-largest supplier, China (X cubic meters), threefold. The third position in this ranking was occupied by the U.S. (X cubic meters), with a X% share.

From 2007 to 2018, the average annual growth rate of volume from Ghana totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and the U.S. (+X% per year).

In value terms, China ($X) constituted the largest supplier of wood-based panels to Nigeria, comprising X% of total wood-based panels imports. The second position in the ranking was occupied by Ghana ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

From 2007 to 2018, the average annual growth rate of value from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ghana (+X% per year) and the UK (-X% per year).

Import Prices by Country

The average wood-based panels import price stood at $X per cubic meter in 2018, dropping by -X% against the previous year. In general, the wood-based panels import price, however, continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2013 an increase of X% year-to-year. Over the period under review, the average import prices for wood-based panels attained their maximum at $X per cubic meter in 2017, and then declined slightly in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was China ($X per cubic meter), while the price for the U.S. ($X per cubic meter) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Product coverage:
• FCL 1647 - Hardboard
• FCL 1648 - MDF/HDF
• FCL 1650 - Other fibreboard
• FCL 1697 - Particle board
• FCL 1606 - OSB
• FCL 1640 - Plywood
• FCL 1634 - Veneer sheets

This report provides an in-depth analysis of the wood-based panels 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 2025.


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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption In 2007–2019
Table 5:
Imports, In Physical Terms, By Country, 2007–2019
Table 6:
Imports, In Value Terms, By Country, 2007–2019
Table 7:
Import Prices, By Country Of Origin, 2007–2019
Table 8:
Exports, In Physical Terms, By Country, 2007–2019
Table 9:
Exports, In Value Terms, By Country, 2007–2019
Table 10:
Export Prices, By Country Of Destination, 2007–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2019
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2019
Figure 5:
Trade Balance, In Physical Terms, 2007–2019
Figure 6:
Trade Balance, In Value Terms, 2007–2019
Figure 7:
Per Capita Consumption, 2007–2019
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2019
Figure 21:
Production, In Value Terms, 2007–2019
Figure 22:
Imports, In Physical Terms, 2007–2019
Figure 23:
Imports, In Value Terms, 2007–2019
Figure 24:
Imports, In Physical Terms, By Country, 2019
Figure 25:
Imports, In Physical Terms, By Country, 2007–2019
Figure 26:
Imports, In Value Terms, By Country, 2007–2019
Figure 27:
Import Prices, By Country Of Origin, 2007–2019
Figure 28:
Exports, In Physical Terms, 2007–2019
Figure 29:
Exports, In Value Terms, 2007–2019
Figure 30:
Exports, In Physical Terms, By Country, 2019
Figure 31:
Exports, In Physical Terms, By Country, 2007–2019
Figure 32:
Exports, In Value Terms, By Country, 2007–2019
Figure 33:
Export Prices, By Country Of Destination, 2007–2019

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