![Report Nigeria - Iron and Steel Wire - Market Analysis, Forecast, Size, Trends and Insights for 499$](/landing/img/reports/nigeria-iron-and-steel-wire-market-analysis-forecast-size-trends-and-insights.webp)
Nigeria - Iron and Steel Wire - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingNigeria: Market for Iron and Steel Wire 2024
Market Size for Iron and Steel Wire in Nigeria
The Nigerien iron and steel wire market was finally on the rise to reach $X in 2023, after two years of decline. Over the period under review, consumption showed a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the market remained at a lower figure.
Exports of Iron and Steel Wire
Exports from Nigeria
Iron and steel wire exports from Nigeria fell rapidly to X tons in 2023, declining by X% against 2022 figures. Overall, exports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2019 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2020 to 2023, the growth of the exports remained at a lower figure.
In value terms, iron and steel wire exports reduced markedly to $X in 2023. In general, exports, however, showed strong growth. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, the exports attained the peak of $X. From 2020 to 2023, the growth of the exports remained at a somewhat lower figure.
Exports by Country
Sao Tome and Principe (X tons) was the main destination for iron and steel wire exports from Nigeria, with a X% share of total exports. Moreover, iron and steel wire exports to Sao Tome and Principe exceeded the volume sent to the second major destination, Benin (X kg), sixfold.
From 2013 to 2023, the average annual growth rate of volume to Sao Tome and Principe was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Benin (X% per year) and Niger (X% per year).
In value terms, Sao Tome and Principe ($X), Benin ($X) and Niger ($X) appeared to be the largest markets for iron and steel wire exported from Nigeria worldwide, together comprising X% of total exports.
Among the main countries of destination, Sao Tome and Principe, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.
Export Prices by Country
In 2023, the average iron and steel wire export price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price, however, saw a mild decline. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Benin ($X per ton), while the average price for exports to Sao Tome and Principe ($X per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Benin (X%).
Imports of Iron and Steel Wire
Imports into Nigeria
In 2023, approx. X tons of iron and steel wire were imported into Nigeria; shrinking by X% compared with the year before. Overall, imports faced a deep downturn. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.
In value terms, iron and steel wire imports fell to $X in 2023. In general, imports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.
Imports by Country
In 2023, China (X tons) constituted the largest supplier of iron and steel wire to Nigeria, with a X% share of total imports. Moreover, iron and steel wire imports from China exceeded the figures recorded by the second-largest supplier, Greece (X tons), more than tenfold. Qatar (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (X% per year) and Qatar (X% per year).
In value terms, China ($X) constituted the largest supplier of iron and steel wire to Nigeria, comprising X% of total imports. The second position in the ranking was taken by Greece ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (X% per year) and Qatar (X% per year).
Import Prices by Country
The average iron and steel wire import price stood at $X per ton in 2023, with an increase of X% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, iron and steel wire import price increased by X% against 2019 indices. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. The import price peaked in 2023 and is likely to see steady growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ukraine ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Greece (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 iron and steel wire 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 24341130 - Iron or non-alloy steel wire containing < 0,25 % of carbon including crimping wire excluding stranded wire, barbed wire used for fencing - duplex wire - saw-tooth wire, insulated electric wire
- Prodcom 24341150 - Iron or non-alloy steel wire containing 0,25-0,6 % of carbon including crimped wire excluding stranded wire, barbed wire used for fencing, duplex wire, saw-tooth wire, insulated electric wire
- Prodcom 24341170 - Iron or non-alloy steel wire containing . 0,6 % of carbon including crimping wire excluding stranded wire, barbed wire used for fencing, duplex wire, saw-tooth wire, insulated electric wire
- Prodcom 24341200 - Stainless steel wire (excluding very fine sterile stainless wire used for surgical sutures)
- Prodcom 24341300 - Alloy steel wire (excluding stranded wire, barbed wire of a kind used for fencing, duplex wire, saw-tooth wire, insulated electric wire, of stainless 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.
-
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
-
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
-
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
-
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
-
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
-
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
-
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
Recommended reports
This report provides an in-depth analysis of the market for iron and steel wire in Asia.
This report provides an in-depth analysis of the market for iron and steel wire in the U.S..
This report provides an in-depth analysis of the market for iron and steel wire in China.
This report provides an in-depth analysis of the market for iron and steel wire in the EU.
This report provides an in-depth analysis of the global market for iron and steel wire.