Report Update May 1, 2025

Nigeria - Hot-Rolled Bars of Silico-Manganese Steel - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Market for Hot-Rolled Bars Of Silico-Manganese Steel 2025

Market Size for Hot-Rolled Bars Of Silico-Manganese Steel in Nigeria

The Nigerien hot-rolled silico-manganese steel bar market shrank remarkably to $X in 2021, which is down by -69.1% 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 showed a deep contraction. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Exports of Hot-Rolled Bars Of Silico-Manganese Steel

Exports from Nigeria

In 2021, the amount of hot-rolled bars of silico-manganese steel exported from Nigeria was estimated at less than X kg, leveling off at the previous year. Over the period under review, exports continue to indicate a relatively flat trend pattern.

In value terms, hot-rolled silico-manganese steel bar exports stood at less than $X in 2021. In general, exports saw a relatively flat trend pattern.

Imports of Hot-Rolled Bars Of Silico-Manganese Steel

Imports into Nigeria

In 2021, approx. X tons of hot-rolled bars of silico-manganese steel were imported into Nigeria; reducing by -73.3% on the previous year. Overall, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when imports increased by 2,935%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled silico-manganese steel bar imports plummeted to $X in 2021. In general, imports saw a abrupt decline. The growth pace was the most rapid in 2015 with an increase of 2,255%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of hot-rolled silico-manganese steel bar to Nigeria, accounting for a 54% share of total imports. Moreover, hot-rolled silico-manganese steel bar imports from the United States exceeded the figures recorded by the second-largest supplier, Greece (X kg), eightfold. The United Arab Emirates (X kg) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (-80.5% per year) and the United Arab Emirates (-7.6% per year).

In value terms, the United States ($X), Greece ($X) and the UK ($X) were the largest hot-rolled silico-manganese steel bar suppliers to Nigeria, together accounting for 61% of total imports.

In terms of the main suppliers, the United States, with a CAGR of -2.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average hot-rolled silico-manganese steel bar import price amounted to $X per ton, growing by 25% against the previous year. In general, the import price, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 an increase of 51%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Greece ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+16.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hot-rolled bars of silico-manganese steel in the world?

China constituted the country with the largest volume of hot-rolled silico-manganese steel bar consumption, accounting for 19% of total volume. Moreover, hot-rolled silico-manganese steel bar consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The third position in this ranking was occupied by Kazakhstan, with an 8.1% share.

What are the largest producers of hot-rolled bars of silico-manganese steel in the world?

The countries with the highest volumes of hot-rolled silico-manganese steel bar production in 2020 were Russia, China and the United States, with a combined 48% share of global production. India, Germany, Japan, Italy, Brazil, South Korea, Turkey, Iran and Sweden lagged somewhat behind, together accounting for a further 31%.

What are the leading suppliers of hot-rolled bars of silico-manganese steel to Nigeria?

In value terms, the Netherlands constituted the largest supplier of hot-rolled silico-manganese steel bar to Nigeria, comprising 75% of total imports. The second position in the ranking was occupied by the UK, with a 24% share of total imports.

What is the average import price for hot-rolled bars of silico-manganese steel in Nigeria?

The average hot-rolled silico-manganese steel bar import price stood at $4,817 per ton in 2020, surging by 258% against the previous year.

This report provides an in-depth analysis of the market for hot-rolled silico-manganese steel bar 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 24106620 - Hot-rolled bars of silico-manganese 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
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 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
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 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
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, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024