Nigeria - Tube or Pipe Fittings (Of Iron or Steel) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2024
Market Size for Tube Or Pipe Fittings (Of Iron Or Steel) in Nigeria
The Nigerien market for tube or pipe fittings (of iron or steel) expanded rapidly to $X in 2022, with an increase of X% 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). In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.
Exports of Tube Or Pipe Fittings (Of Iron Or Steel)
Exports from Nigeria
Iron or steel tube fitting exports from Nigeria declined dramatically to X tons in 2022, falling by X% compared with the year before. In general, exports continue to indicate a precipitous decline. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.
In value terms, iron or steel tube fitting exports declined remarkably to $X in 2022. Overall, exports recorded a precipitous shrinkage. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.
Exports by Country
India (X tons) was the main destination for iron or steel tube fitting exports from Nigeria, accounting for a X% share of total exports. Moreover, iron or steel tube fitting exports to India exceeded the volume sent to the second major destination, South Africa (X kg), sevenfold.
From 2012 to 2022, the average annual growth rate of volume to India stood at X%.
In value terms, the largest markets for iron or steel tube fitting exported from Nigeria were South Africa ($X) and India ($X).
In terms of the main countries of destination, India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review.
Export Prices by Country
The average export price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the export price, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to India totaled $X per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Tube Or Pipe Fittings (Of Iron Or Steel)
Imports into Nigeria
In 2022, the amount of tube or pipe fittings (of iron or steel) imported into Nigeria skyrocketed to X tons, jumping by X% on the year before. Over the period under review, imports saw noticeable growth. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.
In value terms, iron or steel tube fitting imports fell dramatically to $X in 2022. Overall, imports, however, recorded a noticeable shrinkage. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.
Imports by Country
In 2022, China (X tons) constituted the largest iron or steel tube fitting supplier to Nigeria, with a X% share of total imports. Moreover, iron or steel tube fitting imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), eightfold. The third position in this ranking was taken by Italy (X tons), with a X% share.
From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Italy (X% per year).
In value terms, China ($X) constituted the largest supplier of tube or pipe fittings (of iron or steel) to Nigeria, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.
From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and South Korea (X% per year).
Import Prices by Country
In 2022, the average import price for tube or pipe fittings (of iron or steel) amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for iron or steel tube fitting 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:
- Prodcom 24204010 - Flanges, of steel (excluding cast fittings)
- Prodcom 24204030 - Elbows, bends, couplings, sleeves and other threaded tube or pipe fittings, of steel (excluding cast fittings)
- Prodcom 24204050 - Elbows, bends, couplings and sleeves and other socket welding tube or pipe fittings, of steel (excluding cast fittings)
- Prodcom 24204073 - Butt welding elbows and bends, for tubes or pipes, of steel (excluding cast fittings)
- Prodcom 24204075 - Butt welding tube or pipe fittings, other than elbows and bends, of steel (excluding cast fittings)
- Prodcom 24513030 - Tube or pipe fittings, of non-malleable cast iron
- Prodcom 24513050 - Tube or pipe fittings of malleable cast iron
- Prodcom 24523000 - Tube or pipe fittings of cast steel
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.
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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
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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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
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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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