Report Update Nov 1, 2024

Nigeria - Base Metal Hooks, Eyes and Eyelets - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Base Metal Hook Market 2024

Base Metal Hook Market Size in Nigeria

In 2022, the Nigerien base metal hook market decreased by -73.3% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption saw a abrupt decrease. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Base Metal Hook Exports

Exports from Nigeria

In 2022, overseas shipments of base metal hooks, eyes and eyelets were finally on the rise to reach X kg for the first time since 2015, thus ending a six-year declining trend. Overall, exports, however, saw a dramatic slump. The growth pace was the most rapid in 2015 with an increase of 1,057% against the previous year. As a result, the exports reached the peak of X kg. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, base metal hook exports skyrocketed to $X in 2022. In general, exports, however, faced a precipitous decrease. The pace of growth appeared the most rapid in 2015 when exports increased by 4,825% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Burkina Faso (X kg), Benin (X kg) and Ghana (X kg) were the main destinations of base metal hook exports from Nigeria, together accounting for 63% of total exports. Moreover, base metal hook exports in Burkina Faso exceeded the figures recorded by the second-largest exporter, Benin, twofold.

From 2012 to 2022, the biggest increases were recorded for Benin (with a CAGR of +4.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Burkina Faso ($X) and Ghana ($X) constituted the largest markets for base metal hook exported from Nigeria worldwide, with a combined 87% share of total exports.

Among the main countries of destination, Cote d'Ivoire, with a CAGR of +30.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average base metal hook export price amounted to $X per ton, increasing by 32% against the previous year. In general, the export price, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by 370% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Benin ($X 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 Cote d'Ivoire (+30.7%), while the prices for the other major destinations experienced a decline.

Base Metal Hook Imports

Imports into Nigeria

In 2022, overseas purchases of base metal hooks, eyes and eyelets decreased by -72.7% to X tons, falling for the second year in a row after four years of growth. Overall, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 221%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, base metal hook imports reduced markedly to $X in 2022. In general, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 118% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of base metal hook to Nigeria, accounting for a 91% share of total imports. It was followed by Canada (X tons), with a 2.8% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at -16.0%.

In value terms, China ($X) constituted the largest supplier of base metal hooks, eyes and eyelets to Nigeria, comprising 83% of total imports. The second position in the ranking was taken by Canada ($X), with a 2.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at -17.6%.

Import Prices by Country

In 2022, the average base metal hook import price amounted to $X per ton, dropping by -4.8% against the previous year. Over the period under review, the import price continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 84%. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-1.9%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for base metal hooks, eyes and eyelets in the world?

China remains the largest base metal hook consuming country worldwide, accounting for 38% of total volume. Moreover, base metal hook consumption in China exceeded the figures recorded by the second-largest consumer, India, fivefold. The United States ranked third in terms of total consumption with a 7.1% share.

What are the largest producers of base metal hooks, eyes and eyelets in the world?

China constituted the country with the largest volume of base metal hook production, accounting for 58% of total volume. Moreover, base metal hook production in China exceeded the figures recorded by the second-largest producer, India, eightfold. The third position in this ranking was occupied by the United States, with a 6.9% share.

What are the leading suppliers of base metal hooks, eyes and eyelets to Nigeria?

In value terms, China constituted the largest supplier of base metal hook to Nigeria, comprising 86% of total imports. The second position in the ranking was occupied by Turkey, with a 5.9% share of total imports. It was followed by India, with a 3.1% share.

What are the leading importers of base metal hooks, eyes and eyelets from Nigeria?

In value terms, Ghana remains the key foreign market for base metal hook exports from Nigeria.

What is the average export price for base metal hooks, eyes and eyelets in Nigeria?

The average base metal hook export price stood at $20,733 per ton in 2021, waning by -23.6% against the previous year.

What is the average import price for base metal hooks, eyes and eyelets in Nigeria?

The average base metal hook import price stood at $868 per ton in 2021, waning by -18.1% against the previous year.

This report provides an in-depth analysis of the base metal hook 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 25992530 - Base metal hooks, eyes, eyelets and the like, used for clothing, footwear, awnings, handbags, travel goods or other made-up articles excluding snap hooks, rivets, press studs and push buttons

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
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