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Nigeria - Copper; bars, rods and profiles - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Market for Copper Bars, Rods and Profiles 2024
Market Size for Copper Bars, Rods and Profiles in Nigeria
The Nigerien market for copper bars, rods and profiles surged to $X in 2023, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a precipitous slump. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.
Exports of Copper Bars, Rods and Profiles
Exports from Nigeria
In 2023, after two years of growth, there was significant decline in overseas shipments of copper bars, rods and profiles, when their volume decreased by X% to X tons. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.
In value terms, copper bar, rod and profile exports fell remarkably to $X in 2023. Overall, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2023, the exports remained at a lower figure.
Exports by Country
Sierra Leone (X tons), Liberia (X tons) and Ghana (X kg) were the main destinations of copper bar, rod and profile exports from Nigeria, together comprising X% of total exports.
From 2012 to 2023, the biggest increases were recorded for Sierra Leone (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.
In value terms, Sierra Leone ($X) emerged as the key foreign market for copper bars, rods and profiles exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Liberia ($X), with a X% share of total exports.
From 2012 to 2023, the average annual rate of growth in terms of value to Sierra Leone totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Liberia (X% per year) and Ghana (X% per year).
Export Prices by Country
In 2023, the average export price for copper bars, rods and profiles amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2020 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2023, the average export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while the average price for exports to Liberia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced a decline.
Imports of Copper Bars, Rods and Profiles
Imports into Nigeria
In 2023, overseas purchases of copper bars, rods and profiles increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, imports, however, saw a deep setback. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.
In value terms, copper bar, rod and profile imports soared to $X in 2023. In general, imports, however, saw a significant curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.
Imports by Country
China (X tons), India (X tons) and Turkey (X tons) were the main suppliers of copper bar, rod and profile imports to Nigeria, with a combined X% share of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced a decline.
In value terms, China ($X), Turkey ($X) and Germany ($X) appeared to be the largest copper bar, rod and profile suppliers to Nigeria, with a combined X% share of total imports. India, Thailand, the UK, Spain and France lagged somewhat behind, together comprising a further X%.
India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.
Import Prices by Country
The average import price for copper bars, rods and profiles stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the import price saw a deep reduction. The growth pace was the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for copper bar, rod and profile 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 24442200 - Copper and copper alloy bars, rods, profiles and hollow profiles (excluding bars and rods obtained by casting or sintering, copper wire rod in coils)
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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