Updated Jan 23, 2023 03:16

Porcelain Technical Ware Market in Nigeria

Market Overview
The Nigerien porcelain technical ware market rose rapidly to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw strong growth. Porcelain technical ware consumption peaked at $ in 2012; however, from 2013 to , consumption remained at a lower figure.


Consumption
For the third year in a row, Nigeria recorded growth in consumption of porcelain ceramic wares for laboratory, technical, and chemical use, which increased by % to tons in . Overall, consumption recorded a resilient expansion. Porcelain technical ware consumption peaked at tons in 2012; however, from 2013 to , consumption stood at a somewhat lower figure.

The value of the porcelain technical ware market in Nigeria expanded significantly to $ in , picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a strong expansion. Porcelain technical ware consumption peaked at $ in 2012; however, from 2013 to , consumption remained at a lower figure.


Market Forecast
The porcelain technical ware market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Porcelain technical ware market in Nigeria consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
Nigeria remains a net importer of porcelain technical ware; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.