Report Update Jan 1, 2025

Nigeria - Iron or Steel Springs - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Market for Iron or Steel Flat Spiral or Discs Springs 2025

Market Size for Iron or Steel Flat Spiral or Discs Springs in Nigeria

In 2021, the Nigerien market for iron or steel flat spiral or discs springs decreased by -42.3% to $X, falling for the second consecutive year after two years of growth. In general, consumption showed a deep setback. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Exports of Iron or Steel Flat Spiral or Discs Springs

Exports from Nigeria

In 2021, exports of iron or steel flat spiral or discs springs from Nigeria reduced rapidly to X kg, dropping by -93.5% compared with the year before. In general, exports saw a sharp setback. The pace of growth appeared the most rapid in 2020 when exports increased by 816% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, metal spiral or discs spring exports shrank notably to $X in 2021. Overall, exports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2020 when exports increased by 506%. As a result, the exports attained the peak of $X, and then reduced notably in the following year.

Exports by Country

Cote d'Ivoire (X kg) was the main destination for metal spiral or discs spring exports from Nigeria, accounting for a 36% share of total exports. Moreover, metal spiral or discs spring exports to Cote d'Ivoire exceeded the volume sent to the second major destination, Sierra Leone (X kg), twofold. The third position in this ranking was held by Uganda (X kg), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cote d'Ivoire amounted to +18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sierra Leone (0.0% per year) and Uganda (+18.7% per year).

In value terms, Cote d'Ivoire ($X), the United States ($X) and Uganda ($X) were the largest markets for metal spiral or discs spring exported from Nigeria worldwide, together comprising 83% of total exports.

Uganda, with a CAGR of +30.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for iron or steel flat spiral or discs springs amounted to $X per ton, rising by 76% against the previous year. Overall, the export price showed a resilient increase. The pace of growth appeared the most rapid in 2014 an increase of 232%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Congo ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+14.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Flat Spiral or Discs Springs

Imports into Nigeria

In 2021, overseas purchases of iron or steel flat spiral or discs springs decreased by -51% to X tons, falling for the second consecutive year after two years of growth. Overall, imports saw a abrupt setback. The growth pace was the most rapid in 2019 when imports increased by 99% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, metal spiral or discs spring imports reduced rapidly to $X in 2021. In general, imports showed a abrupt contraction. The growth pace was the most rapid in 2019 with an increase of 57% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Barbados (X tons), China (X tons) and Turkey (X tons) were the main suppliers of metal spiral or discs spring imports to Nigeria, with a combined 78% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Barbados (with a CAGR of +19.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal spiral or discs spring suppliers to Nigeria were Singapore ($X), Barbados ($X) and China ($X), together accounting for 37% of total imports.

Among the main suppliers, Barbados, with a CAGR of +12.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for iron or steel flat spiral or discs springs amounted to $X per ton, jumping by 36% against the previous year. Over the period under review, the import price, however, showed a abrupt shrinkage. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron or steel flat spiral or discs springs in the world?

China remains the largest metal spiral or discs spring consuming country worldwide, comprising approx. 28% of total volume. Moreover, metal spiral or discs spring consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The third position in this ranking was occupied by Germany, with a 10% share.

What are the largest producers of iron or steel flat spiral or discs springs in the world?

China remains the largest metal spiral or discs spring producing country worldwide, comprising approx. 31% of total volume. Moreover, metal spiral or discs spring production in China exceeded the figures recorded by the second-largest producer, Germany, threefold. India ranked third in terms of total production with an 11% share.

What are the leading suppliers of iron or steel flat spiral or discs springs to Nigeria?

In value terms, the largest metal spiral or discs spring suppliers to Nigeria were China, Turkey and the United States, with a combined 43% share of total imports. These countries were followed by the Netherlands, India, Indonesia and Lebanon, which together accounted for a further 12%.

What is the average export price for iron or steel flat spiral or discs springs in Nigeria?

In 2021, the average export price for iron or steel flat spiral or discs springs amounted to $6,140 per ton, which is down by -63.3% against the previous year.

What is the average import price for iron or steel flat spiral or discs springs in Nigeria?

In 2021, the average import price for iron or steel flat spiral or discs springs amounted to $3,679 per ton, growing by 59% against the previous year.

This report provides an in-depth analysis of the market for metal spiral or discs spring 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 25931653 - Iron or steel flat spiral springs
Prodcom 25931655 - Iron or steel discs springs
Prodcom 25931660 - Iron or steel springs (excluding leaf-springs and leaves therefor, helical springs, flat spiral springs, discs springs)

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