The import of glass fibres and glass wool to Nigeria in 2023 was 1.5 million USD. The forecasted data for 2024 to 2028 indicates a decreasing trend in import values:
- 2024: 1.2793 million USD (Year-on-Year variation: -14.73%)
- 2025: 1.0088 million USD (Year-on-Year variation: -21.16%)
- 2026: 0.74372 million USD (Year-on-Year variation: -26.28%)
- 2027: 0.48394 million USD (Year-on-Year variation: -34.96%)
- 2028: 0.22936 million USD (Year-on-Year variation: -52.58%)
The Compound Annual Growth Rate (CAGR) over the forecast period (2024-2028) is expected to average -29.12% per year, indicating a significant decline in imports.
Future trends to watch for include potential changes in local production capabilities, modifications in trade policies, and fluctuations in demand due to technological advancements or shifts in the construction and manufacturing sectors where these materials are utilized.
