Report Update: May 10, 2024

Nigeria - U-Sections Of Non-Alloy Steel - Market Analysis, Forecast, Size, Trends And Insights

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Non-Alloy Steel U-Section Price in Nigeria - 2022

Non-Alloy Steel U-Section Price in Nigeria (CIF) - 2022

In 2022, the average non-alloy steel u-section import price amounted to $883 per ton, declining by -15.4% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 108% against the previous year. As a result, import price reached the peak level of $1,183 per ton. From 2019 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($1,610 per ton), while the price for the United States ($661 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Non-Alloy Steel U-Section Price in Nigeria (FOB) - 2022

The average non-alloy steel u-section export price stood at $1,174 per ton in 2022, growing by 57% against the previous year. Over the period under review, the export price enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 an increase of 68% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Ghana.

From 2012 to 2022, the rate of growth in terms of prices for Ghana amounted to +12.3% per year.

Non-Alloy Steel U-Section Imports in Nigeria

In 2022, imports of u-sections of non-alloy steel into Nigeria surged to 4.4K tons, with an increase of 87% on the previous year's figure. In general, imports continue to indicate significant growth. The growth pace was the most rapid in 2021 when imports increased by 363% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, non-alloy steel u-section imports soared to $3.9M in 2022. Overall, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 338% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Import of Non-Alloy Steel U-Section in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	85.5	1.9	1,098	2,372	202.7%
United Arab Emirates	185	371	266	973	73.9%
Ukraine	310	N/A	N/A	289	-2.3%
Bahrain	N/A	N/A	32.2	111	244.7%
Turkey	N/A	8.3	579	34.6	104.2%
India	N/A	N/A	461	N/A	0%
Others	84.8	181	23.5	116	11.0%
Total	665	562	2,460	3,896	80.3%

Top Suppliers of Non-Alloy Steel U-Section to Nigeria in 2022:

China (3195.8 tons)
United Arab Emirates (604.0 tons)
Ukraine (392.3 tons)
Bahrain (95.5 tons)
Turkey (31.0 tons)

Non-Alloy Steel U-Section Exports in Nigeria

In 2022, overseas shipments of u-sections of non-alloy steel decreased by -57.3% to 149 tons for the first time since 2018, thus ending a three-year rising trend. In general, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 15%.

In value terms, non-alloy steel u-section exports dropped markedly to $175K in 2022. Over the period under review, exports, however, showed a significant increase. The growth pace was the most rapid in 2020 with an increase of 93% against the previous year.

Export of Non-Alloy Steel U-Section in Nigeria (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Ghana	83.6	N/A	N/A	175	27.9%
Benin	7.4	176	231	N/A	458.7%
Niger	N/A	N/A	28.7	N/A	0%
Others	N/A	N/A	N/A	N/A	0%
Total	91.0	176	260	175	24.4%

Top Export Markets for Non-Alloy Steel U-Section from Nigeria in 2022:

Ghana (148.8 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the non-alloy steel u-section 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 24107110 - U-sections of a web height of .80 mm or more (of non-alloy steel)

Country coverage:

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023