Nigeria - Base Metal Closures, Stoppers, Caps And Lids - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBase Metal Closure Price in Nigeria - 2022
Contents:
- Base Metal Closure Price in Nigeria (CIF) - 2022
- Base Metal Closure Price in Nigeria (FOB) - 2022
- Base Metal Closure Imports in Nigeria
- Base Metal Closure Exports in Nigeria
Base Metal Closure Price in Nigeria (CIF) - 2022
In 2022, the average base metal closure import price amounted to $7,885 per ton, picking up by 71% against the previous year. In general, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, base metal closure import price increased by +98.1% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
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 the United States ($16,955 per ton), while the price for Singapore ($2,841 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Base Metal Closure Price in Nigeria (FOB) - 2022
In 2022, the average base metal closure export price amounted to $1,314 per ton, jumping by 42% against the previous year. In general, the export price, however, continues to indicate a abrupt contraction. Over the period under review, the average export prices hit record highs at $6,079 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ghana ($3,079 per ton), while the average price for exports to Togo amounted to $838 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+3.8%).
Base Metal Closure Imports in Nigeria
In 2022, supplies from abroad of base metal closures, stoppers, caps and lids decreased by -27.4% to 6.6K tons, falling for the second year in a row after two years of growth. Over the period under review, imports saw a pronounced decline. The most prominent rate of growth was recorded in 2020 when imports increased by 63% against the previous year. As a result, imports attained the peak of 12K tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, base metal closure imports surged to $52M in 2022. Overall, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +16.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 43%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
| Import of Base Metal Closure in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 15.4 | 20.9 | 15.5 | 19.9 | 8.9% |
| China | 4.5 | 6.4 | 7.5 | 8.8 | 25.1% |
| Saudi Arabia | 4.6 | 5.0 | 5.2 | 6.1 | 9.9% |
| India | 1.6 | 4.1 | 4.5 | 5.3 | 49.1% |
| Thailand | 2.7 | 1.5 | 2.2 | 2.6 | -1.3% |
| South Africa | 1.0 | 3.0 | 2.0 | 2.3 | 32.0% |
| Singapore | 1.0 | 2.4 | 1.4 | 1.9 | 23.9% |
| Others | 2.3 | 3.9 | 3.6 | 5.2 | 31.2% |
| Total | 33.1 | 47.3 | 42.0 | 52.0 | 16.2% |
Top Suppliers of Base Metal Closure to Nigeria in 2022:
- Poland (1666.4 tons)
- China (1607.3 tons)
- Singapore (654.7 tons)
- India (613.1 tons)
- Saudi Arabia (523.6 tons)
- Thailand (455.4 tons)
- South Africa (386.8 tons)
Base Metal Closure Exports in Nigeria
After three years of growth, overseas shipments of base metal closures, stoppers, caps and lids decreased by -39.9% to 328 tons in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 55%.
In value terms, base metal closure exports reduced to $431K in 2022. Over the period under review, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2020 with an increase of 40% against the previous year. As a result, the exports attained the peak of $987K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Base Metal Closure in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Togo | 31.3 | 267 | 469 | 216 | 90.4% |
| Ghana | 676 | 719 | 22.7 | 215 | -31.7% |
| Others | N/A | N/A | 13.0 | N/A | 0% |
| Total | 707 | 987 | 505 | 431 | -15.2% |
Top Export Markets for Base Metal Closure from Nigeria in 2022:
- Togo (258.2 tons)
- Ghana (69.7 tons)
This report provides an in-depth analysis of the base metal closure 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:
- Prodcom 25921370 - Base metal closures, stoppers, caps and lids (excluding of lead, crown corks, aluminium closures, stoppers, caps and lids of a diameter > .21 mm)
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
-
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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