Nigeria - Forged Bars Of Stainless Steel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Forged Stainless Steel Bar in Nigeria - 2022
Contents:
- Price for Forged Stainless Steel Bar in Nigeria (CIF) - 2022
- Price for Forged Stainless Steel Bar in Nigeria (FOB) - 2022
- Imports of Forged Stainless Steel Bar in Nigeria
- Exports of Forged Stainless Steel Bar in Nigeria
Price for Forged Stainless Steel Bar in Nigeria (CIF) - 2022
The average forged stainless steel bar import price stood at $6,357 per ton in 2022, which is down by -29.5% against the previous year. In general, the import price, however, posted a prominent expansion. The pace of growth was the most pronounced in 2020 when the average import price increased by 99%. Over the period under review, average import prices hit record highs at $9,017 per ton in 2021, and then fell sharply in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($122,529 per ton), while the price for China ($3,053 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+45.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Forged Stainless Steel Bar in Nigeria (FOB) - 2022
The average forged stainless steel bar export price stood at $38,295 per ton in 2022, growing by 18% against the previous year. In general, the export price saw significant growth. The pace of growth appeared the most rapid in 2018 when the average export price increased by 525%. The export price peaked in 2022 and is likely to see gradual growth in years to come.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ghana ($795,600 per ton), while the average price for exports to Benin stood at $14,153 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+46.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Forged Stainless Steel Bar in Nigeria
In 2022, purchases abroad of forged bars of stainless steel was finally on the rise to reach 55 tons after two years of decline. Overall, imports, however, saw a significant curtailment.
In value terms, forged stainless steel bar imports contracted remarkably to $352K in 2022. Over the period under review, imports, however, faced a precipitous decline.
| Import of Forged Stainless Steel Bar in Nigeria (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 674 | 125 | 8.2 | 110 | -45.4% |
| Sweden | 219 | 228 | 116 | 59.9 | -35.1% |
| Hong Kong SAR | 57.1 | 65.2 | 43.3 | 30.6 | -18.8% |
| United States | 3.6 | 39.9 | 46.1 | 29.9 | 102.5% |
| Netherlands | 2.6 | 2.3 | 15.9 | 10.3 | 58.2% |
| United Kingdom | 24.0 | 31.8 | 3.3 | 8.1 | -30.4% |
| Greece | N/A | 127 | 39.8 | N/A | -68.7% |
| Others | 140 | 205 | 151 | 103 | -9.7% |
| Total | 1,120 | 824 | 423 | 352 | -32.0% |
Top Suppliers of Forged Stainless Steel Bar to Nigeria in 2022:
- China (35.9 tons)
- Hong Kong SAR (7.5 tons)
- Sweden (2.3 tons)
- Netherlands (2.2 tons)
- United States (2.1 tons)
- United Kingdom (0.9 tons)
Exports of Forged Stainless Steel Bar in Nigeria
For the third year in a row, Nigeria recorded decline in overseas shipments of forged bars of stainless steel, which decreased by -8.7% to 42 kg in 2022. Overall, exports continue to indicate a sharp setback.
In value terms, forged stainless steel bar exports expanded rapidly to $1.6K in 2022. In general, exports continue to indicate a abrupt curtailment.
| Export of Forged Stainless Steel Bar in Nigeria (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Ghana | 263 | 1,096 | 950 | 1,023 | 57.3% |
| Benin | 147 | 612 | 531 | 571 | 57.2% |
| South Korea | 1,559 | N/A | N/A | N/A | 0% |
| Others | 1.0 | N/A | N/A | N/A | 0% |
| Total | 1,970 | 1,708 | 1,481 | 1,594 | -6.8% |
Top Export Markets for Forged Stainless Steel Bar from Nigeria in 2022:
- Benin (40.0 kg)
- Ghana (1.0 kg)
This report provides an in-depth analysis of the market for forged stainless steel bar 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 24106450 - Forged bars, of stainless 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
-
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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