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Nigeria - MDF - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMDF Price in Nigeria - 2022
Contents:
- MDF Price in Nigeria (CIF) - 2022
- MDF Price in Nigeria (FOB) - 2022
- MDF Imports in Nigeria
- MDF Exports in Nigeria
MDF Price in Nigeria (CIF) - 2022
The average MDF import price stood at $451 per cubic meter in June 2022, waning by -26.6% against the previous month. Over the period under review, the import price saw a noticeable reduction. The most prominent rate of growth was recorded in November 2021 an increase of 1,081% month-to-month. The import price peaked at $10,516 per cubic meter in December 2021; however, from January 2022 to June 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In June 2022, the country with the highest price was Turkey ($490 per cubic meter), while the price for China stood at $426 per cubic meter.
From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by the United States (+40.0%), while the prices for the other major suppliers experienced mixed trend patterns.
MDF Price in Nigeria (FOB) - 2022
The average MDF export price stood at $372 per cubic meter in 2022, growing by 15% against the previous year. In general, the export price, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 62%. As a result, the export price attained the peak level of $963 per cubic meter. From 2014 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Benin ($521 per cubic meter), while the average price for exports to Niger totaled $210 per cubic meter.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Benin (-3.8%).
MDF Imports in Nigeria
In 2022, approx. 15K cubic meters of MDF were imported into Nigeria; shrinking by -37.9% on 2021 figures. Overall, imports saw a dramatic setback. Imports peaked at 143K cubic meters in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, MDF imports contracted rapidly to $6.8M in 2022. Over the period under review, imports recorded a dramatic setback. The smallest decline of -39.3% was in 2020. Over the period under review, imports hit record highs at $37M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
Import of MDF in Nigeria (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 31.6 | 15.0 | 4.4 | 4.8 | -46.6% |
Turkey | 0.5 | 0.9 | 0.9 | 0.5 | 0.0% |
Thailand | 1.2 | 1.9 | 1.2 | 0.5 | -25.3% |
Brazil | 0.7 | 1.3 | 0.4 | 0.3 | -24.6% |
Poland | 1.0 | 0.5 | 0.2 | 0.2 | -41.5% |
Hong Kong SAR | 0.2 | 0.4 | 0.3 | 0.2 | 0.0% |
Others | 1.3 | 2.2 | 3.9 | 0.4 | -32.5% |
Total | 36.5 | 22.2 | 11.3 | 6.8 | -42.9% |
Top Suppliers of MDF to Nigeria in 2022:
- China (9.6K cubic meters)
- Brazil (2.3K cubic meters)
- Thailand (1.4K cubic meters)
- Turkey (1.0K cubic meters)
- Poland (0.3K cubic meters)
- Hong Kong SAR (0.3K cubic meters)
MDF Exports in Nigeria
After three years of growth, shipments abroad of MDF decreased by -36.1% to 23 cubic meters in 2022. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 227% against the previous year. As a result, the exports attained the peak of 36 cubic meters, and then dropped rapidly in the following year.
In value terms, MDF exports reduced remarkably to $8.6K in 2022. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 113% against the previous year. As a result, the exports reached the peak of $12K, and then contracted rapidly in the following year.
Export of MDF in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Benin | 2.9 | 5.1 | 0.5 | 6.3 | 29.5% |
Niger | 0.4 | 0.3 | 0.2 | 2.3 | 79.2% |
Senegal | N/A | N/A | 10.8 | N/A | 0% |
Others | N/A | N/A | 0.2 | N/A | 0% |
Total | 3.3 | 5.5 | 11.7 | 8.6 | 37.6% |
Top Export Markets for MDF from Nigeria in 2022:
- Benin (12.0 cubic meters)
- Niger (11.0 cubic meters)
This report provides an in-depth analysis of the mdf 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:
- FCL 1648 - MDF/HDF
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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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