Nigeria - Wire Rod of Free-Cutting Steel - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Market for Wire Rod Of Free-Cutting Steel 2024
Market Size for Wire Rod Of Free-Cutting Steel in Nigeria
The Nigerien free-cutting steel wire rod market contracted dramatically to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption showed a significant curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.
Production of Wire Rod Of Free-Cutting Steel in Nigeria
In value terms, free-cutting steel wire rod production stood at $X in 2022 estimated in export price. Over the period under review, production showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.
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Exports of Wire Rod Of Free-Cutting Steel
Exports from Nigeria
In 2022, shipments abroad of wire rod of free-cutting steel increased by X% to X tons, rising for the fourth consecutive year after six years of decline. In general, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, free-cutting steel wire rod exports soared to $X in 2022. Overall, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
Exports by Country
Ghana (X tons) was the main destination for free-cutting steel wire rod exports from Nigeria, accounting for a X% share of total exports. Moreover, free-cutting steel wire rod exports to Ghana exceeded the volume sent to the second major destination, Niger (X tons), more than tenfold.
From 2012 to 2022, the average annual growth rate of volume to Ghana totaled X.1%.
In value terms, Ghana ($X) emerged as the key foreign market for wire rod of free-cutting steel exports from Nigeria, comprising X% of total exports. The second position in the ranking was held by Niger ($X), with a X% share of total exports.
From 2012 to 2022, the average annual growth rate of value to Ghana totaled X.3%.
Export Prices by Country
In 2022, the average free-cutting steel wire rod export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price, however, posted a strong expansion. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced dramatically in the following year.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per ton), while the average price for exports to Ghana stood at $X per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (X%).
Imports of Wire Rod Of Free-Cutting Steel
Imports into Nigeria
In 2022, supplies from abroad of wire rod of free-cutting steel was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. In general, imports posted strong growth. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.
In value terms, free-cutting steel wire rod imports surged to $X in 2022. Over the period under review, imports showed a significant expansion. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.
Imports by Country
In 2022, China (X tons) was the main free-cutting steel wire rod supplier to Nigeria, with a approx. X% share of total imports.
From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%.
In value terms, China ($X) constituted the largest supplier of wire rod of free-cutting steel to Nigeria.
From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%.
Import Prices by Country
In 2022, the average free-cutting steel wire rod import price amounted to $X per ton, rising by X% against the previous year. In general, the import price continues to indicate a noticeable increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for China.
From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for free-cutting steel wire rod 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 24106120 - Wire rod of free-cutting 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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