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Nigeria - Flat-Rolled Products of Silicon-Electrical Steel - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Market for Flat-Rolled Products Of Silicon-Electrical Steel 2024
Market Size for Flat-Rolled Products Of Silicon-Electrical Steel in Nigeria
In 2023, the Nigerien silicon-electrical steel flat-rolled product market decreased by X% to $X, falling for the second year in a row after two years of growth. In general, consumption faced a significant decrease. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2023, consumption remained at a lower figure.
Exports of Flat-Rolled Products Of Silicon-Electrical Steel
Exports from Nigeria
In 2023, after eight years of growth, there was decline in shipments abroad of flat-rolled products of silicon-electrical steel, when their volume decreased by X% to X tons. In general, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.
In value terms, silicon-electrical steel flat-rolled product exports fell to $X in 2023. Over the period under review, exports faced a abrupt downturn. The pace of growth appeared the most rapid in 2015 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.
Exports by Country
Niger (X tons) was the main destination for silicon-electrical steel flat-rolled product exports from Nigeria, with a approx. X% share of total exports.
From 2012 to 2020, the average annual growth rate of volume to Niger was relatively modest.
From 2012 to 2020, the average annual rate of growth in terms of value to Niger was relatively modest.
Export Prices by Country
In 2020, the average silicon-electrical steel flat-rolled product export price amounted to $X per ton, dropping by X% against the previous year. Overall, the export price saw a deep slump. The pace of growth was the most pronounced in 2013 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2020, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Niger.
From 2012 to 2020, the rate of growth in terms of prices for Benin amounted to X% per year.
Imports of Flat-Rolled Products Of Silicon-Electrical Steel
Imports into Nigeria
In 2023, supplies from abroad of flat-rolled products of silicon-electrical steel decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, imports showed a precipitous descent. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Imports peaked at X tons in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.
In value terms, silicon-electrical steel flat-rolled product imports plummeted to $X in 2023. Over the period under review, imports continue to indicate a dramatic curtailment. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.
Imports by Country
In 2023, China (X tons) was the main silicon-electrical steel flat-rolled product supplier to Nigeria, with a X% share of total imports. Moreover, silicon-electrical steel flat-rolled product imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold. The third position in this ranking was taken by India (X kg), with a X% share.
From 2012 to 2023, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and India (X% per year).
In value terms, China ($X) constituted the largest supplier of flat-rolled products of silicon-electrical steel to Nigeria, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.
From 2012 to 2023, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Malaysia (X% per year).
Import Prices by Country
The average silicon-electrical steel flat-rolled product import price stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2021; however, from 2022 to 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United Arab Emirates ($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 the United Arab Emirates (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 silicon-electrical steel flat-rolled product 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 24105310 - Electrical sheet and strip, grain oriented of a width of .600 mm or more
- Prodcom 24105330 - Flat-rolled products of silicon-electrical steel, of a width . .600 mm, non-grain-oriented
- Prodcom 24105410 - Electrical cold-rolled slit strip, grain oriented, in silicon-alloy steel, of a width of < .600 mm
- Prodcom 24105430 - Flat-rolled products of silicon-electrical steel, of a width < .600 mm, non-grain-oriented
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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