Report Nigeria - Pig Iron and Spiegeleisen - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Oct 28, 2022

Nigeria - Pig Iron and Spiegeleisen - Market Analysis, Forecast, Size, Trends and Insights
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Nigeria: Pig Iron Market 2022

Pig Iron Market Size in Nigeria

The Nigerien pig iron market dropped significantly to $X in 2021, with a decrease of -19.4% against the previous year. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +17.0% against 2019 indices. Pig iron consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Pig Iron Production in Nigeria

In value terms, pig iron production reached $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 59%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Pig Iron Exports

Exports from Nigeria

In 2021, approx. X tons of pig iron and spiegeleisen were exported from Nigeria; picking up by 25% against the previous year. Over the period under review, exports, however, continue to indicate a pronounced setback. The growth pace was the most rapid in 2018 with an increase of 159%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, pig iron exports surged to $X in 2021. In general, exports posted a resilient expansion. The pace of growth was the most pronounced in 2019 with an increase of 311% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for pig iron exports from Nigeria, accounting for a 89% share of total exports. Moreover, pig iron exports to India exceeded the volume sent to the second major destination, Benin (X tons), eightfold.

From 2012 to 2021, the average annual growth rate of volume to India totaled -5.0%.

In value terms, India ($X) remains the key foreign market for pig iron exports from Nigeria, comprising 94% of total exports. The second position in the ranking was held by Benin ($X), with a 6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to India totaled +9.6%.

Export Prices by Country

In 2021, the average pig iron export price amounted to $X per ton, waning by -3.2% against the previous year. Over the period under review, the export price, however, posted a prominent expansion. The pace of growth appeared the most rapid in 2015 when the average export price increased by 82%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Benin stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Benin (+23.8%).

Pig Iron Imports

Imports into Nigeria

In 2021, purchases abroad of pig iron and spiegeleisen decreased by -84.7% to X tons, falling for the second consecutive year after four years of growth. In general, imports saw a significant decline. The pace of growth was the most pronounced in 2016 with an increase of 196%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, pig iron imports dropped significantly to $X in 2021. Over the period under review, imports showed a dramatic curtailment. The pace of growth appeared the most rapid in 2016 when imports increased by 104%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of pig iron to Nigeria, accounting for a 64% share of total imports. Moreover, pig iron imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume from India amounted to -12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-18.3% per year) and the United States (-32.1% per year).

In value terms, the largest pig iron suppliers to Nigeria were India ($X), China ($X) and the United States ($X), with a combined 99.9% share of total imports.

Among the main suppliers, India, with a CAGR of -0.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average pig iron import price stood at $X per ton in 2021, picking up by 12% against the previous year. Overall, the import price posted a remarkable increase. The most prominent rate of growth was recorded in 2015 an increase of 98% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+239.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for pig iron and spiegeleisen in the world?
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The country with the largest volume of pig iron consumption was China, accounting for 73% of total volume. Moreover, pig iron consumption in China exceeded the figures recorded by the second-largest consumer, India, tenfold. South Korea ranked third in terms of total consumption with a 4.9% share.
What are the largest producers of pig iron and spiegeleisen in the world?
+
China remains the largest pig iron producing country worldwide, accounting for 73% of total volume. Moreover, pig iron production in China exceeded the figures recorded by the second-largest producer, India, tenfold. The third position in this ranking was held by South Korea, with a 4.9% share.
What are the leading suppliers of pig iron and spiegeleisen to Nigeria?
+
In value terms, the largest pig iron suppliers to Nigeria were India, China and the United States, with a combined 99.9% share of total imports.
What are the leading importers of pig iron and spiegeleisen from Nigeria?
+
In value terms, India remains the key foreign market for pig iron exports from Nigeria, comprising 94% of total exports. The second position in the ranking was held by Benin, with a 6% share of total exports.
What is the average export price for pig iron and spiegeleisen in Nigeria?
+
The average pig iron export price stood at $944 per ton in 2021, reducing by -3.2% against the previous year.
What is the average import price for pig iron and spiegeleisen in Nigeria?
+
In 2021, the average pig iron import price amounted to $1,196 per ton, growing by 12% against the previous year.

This report provides an in-depth analysis of the pig iron 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 24101100 - Pig iron and spiegeleisen in pigs, blocks or other primary forms
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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption In 2007-2021
Table 5:
Imports, In Physical Terms, By Country, 2012–2021
Table 6:
Imports, In Value Terms, By Country, 2012–2021
Table 7:
Import Prices, By Country Of Origin, 2012–2021
Table 8:
Exports, In Physical Terms, By Country, 2012–2021
Table 9:
Exports, In Value Terms, By Country, 2012–2021
Table 10:
Export Prices, By Country Of Destination, 2012–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2021
Figure 5:
Trade Balance, In Physical Terms, 2007-2021
Figure 6:
Trade Balance, In Value Terms, 2007-2021
Figure 7:
Per Capita Consumption, 2007-2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2021
Figure 21:
Production, In Value Terms, 2012–2021
Figure 22:
Imports, In Physical Terms, 2012–2021
Figure 23:
Imports, In Value Terms, 2012–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2012–2021
Figure 26:
Imports, In Value Terms, By Country, 2012–2021
Figure 27:
Import Prices, By Country Of Origin, 2012–2021
Figure 28:
Exports, In Physical Terms, 2012–2021
Figure 29:
Exports, In Value Terms, 2012–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2012–2021
Figure 32:
Exports, In Value Terms, By Country, 2012–2021
Figure 33:
Export Prices, By Country Of Destination, 2012–2021
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