Nigeria - Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends and Insights
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View PricingStranded Wire Price in Nigeria - 2022
Contents:
- Stranded Wire Price in Nigeria (CIF) - 2022
- Stranded Wire Price in Nigeria (FOB) - 2022
- Stranded Wire Imports in Nigeria
- Stranded Wire Exports in Nigeria
Stranded Wire Price in Nigeria (CIF) - 2022
In June 2022, the average stranded wire import price amounted to $2,145 per ton, declining by -29.9% against the previous month. Overall, the import price showed a slight descent. The most prominent rate of growth was recorded in March 2022 an increase of 270% against the previous month. As a result, import price attained the peak level of $4,260 per ton. From April 2022 to June 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In June 2022, the country with the highest price was India ($4,101 per ton), while the price for China ($1,700 per ton) was amongst the lowest.
From June 2021 to June 2022, the most notable rate of growth in terms of prices was attained by India (+8.9%), while the prices for the other major suppliers experienced a decline.
Stranded Wire Price in Nigeria (FOB) - 2022
The average stranded wire export price stood at $3,445 per ton in 2022, increasing by 4.6% against the previous year. In general, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, stranded wire export price decreased by -24.4% against 2020 indices. The pace of growth appeared the most rapid in 2014 an increase of 97% against the previous year. Over the period under review, the average export prices attained the peak figure at $4,554 per ton in 2020; however, from 2021 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 Senegal ($6,295 per ton), while the average price for exports to Gambia ($164 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+35.1%), while the prices for the other major destinations experienced more modest paces of growth.
Stranded Wire Imports in Nigeria
Stranded wire imports into Nigeria surged to 11K tons in 2022, jumping by 48% on 2021. Overall, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by 176% against the previous year. As a result, imports reached the peak of 25K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, stranded wire imports rose notably to $20M in 2022. In general, imports, however, showed a noticeable downturn. The growth pace was the most rapid in 2020 when imports increased by 221% against the previous year. As a result, imports reached the peak of $70M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
Import of Stranded Wire in Nigeria (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 4.8 | 10.3 | 4.9 | 7.4 | 15.5% |
India | 3.9 | 15.0 | 2.3 | 2.0 | -20.0% |
Indonesia | 4.6 | 27.0 | 3.3 | 1.8 | -26.9% |
United States | 2.0 | 4.2 | 1.2 | 1.7 | -5.3% |
Portugal | 1.6 | 2.5 | 0.2 | 1.2 | -9.1% |
United Kingdom | 0.7 | 2.7 | 0.4 | 0.9 | 8.7% |
Others | 4.0 | 7.9 | 5.4 | 4.9 | 7.0% |
Total | 21.7 | 69.5 | 17.7 | 20.0 | -2.7% |
Top Suppliers of Stranded Wire to Nigeria in 2022:
- China (6.7K tons)
- India (1.4K tons)
- Portugal (0.5K tons)
- Indonesia (0.5K tons)
- United States (0.3K tons)
- United Kingdom (0.3K tons)
Stranded Wire Exports in Nigeria
In 2022, approx. 10 tons of stranded wire, ropes and cables were exported from Nigeria; falling by -30.3% compared with the year before. In general, exports continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 202%.
In value terms, stranded wire exports fell notably to $35K in 2022. Over the period under review, exports faced a sharp curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 118%.
Export of Stranded Wire in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Senegal | 3.2 | N/A | 23.9 | 18.2 | 78.5% |
Netherlands | 11.9 | 1.3 | 3.0 | 5.9 | -20.9% |
Ghana | 13.5 | 4.9 | 3.8 | 4.1 | -32.8% |
Cote d'Ivoire | 61.8 | 6.2 | 6.6 | 2.6 | -65.2% |
Niger | 68.5 | 3.9 | 4.9 | 2.3 | -67.7% |
Belgium | 54.4 | 2.2 | 1.9 | 0.6 | -77.7% |
Gambia | 0.3 | 0.2 | 0.4 | 0.4 | 10.1% |
United Kingdom | 28.0 | 0.8 | 1.0 | 0.4 | -75.7% |
Congo | 54.2 | 0.6 | 0.9 | 0.4 | -80.5% |
Others | 35.2 | 2.0 | 1.9 | 0.4 | -77.5% |
Total | 331 | 22.1 | 48.3 | 35.2 | -52.6% |
Top Export Markets for Stranded Wire from Nigeria in 2022:
- Senegal (2.9 tons)
- Gambia (2.5 tons)
- Netherlands (1.5 tons)
- Ghana (1.0 tons)
- United Kingdom (0.7 tons)
- Belgium (0.5 tons)
- Niger (0.5 tons)
- Congo (0.4 tons)
- Cote d'Ivoire (0.1 tons)
This report provides an in-depth analysis of the stranded wire 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 25931130 - Iron or steel stranded wire, ropes and cables (including stranded wires and wire ropes with or without attached fittings not electrically insulated) (excluding electrically insulated)
- Prodcom 25931150 - Iron or steel plaited bands, slings and the like (excluding electrically insulated)
- Prodcom 25931250 - Copper stranded wire, cables, plaited bands and the like excluding electrically insulated, barbed wire and loosely twisted non-barbed double fencing wire, insulated electric wire and cables
- Prodcom 25931270 - Aluminium stranded wire, cables, plaited bands and the like excluding electrically insulated, barbed wire and loosely twisted non-barbed double fencing wire, insulated electric wire and cables
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
This report provides an in-depth analysis of the stranded wire market in Nigeria.
This report provides an in-depth analysis of the steel stranded wire market in Nigeria.
This report provides an in-depth analysis of the steel plaited band market in Nigeria.
This report provides an in-depth analysis of the global stranded wire market.
This report provides an in-depth analysis of the global steel stranded wire market.
This report provides an in-depth analysis of the global steel plaited band market.
This report provides an in-depth analysis of the stranded wire market in Nigeria.
This report provides an in-depth analysis of the steel stranded wire market in Nigeria.
This report provides an in-depth analysis of the steel plaited band market in Nigeria.
This report provides an in-depth analysis of the global stranded wire market.
Explore the top import markets for stranded wire, including the United States, Germany, Canada, and more. Find out key statistics and market insights using the IndexBox market intelligence platform.
Global stranded wire imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. Overall, stranded wire imports continue to indicate a relativel...
Global stranded wire imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. Overall, stranded wire imports continue to indicate a relativel...
Explore the top import markets for steel stranded wire in the world, including key statistics and trends.
Explore the top import markets for stranded wire, including the United States, Germany, Canada, and more. Find out key statistics and market insights using the IndexBox market intelligence platform.
Global stranded wire imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. Overall, stranded wire imports continue to indicate a relativel...
Global stranded wire imports totaled X tons in 2016, import ,therefore, remained relatively stable against the previous year level. Overall, stranded wire imports continue to indicate a relativel...
Explore the top import markets for steel stranded wire in the world, including key statistics and trends.