Report Update Nov 1, 2024

Nigeria - Knives and Cutting Blades (For Machines or for Mechanical Appliances) - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Cutting Blade Market 2024

Cutting Blade Market Size in Nigeria

After two years of growth, the Nigerien cutting blade market decreased by -71.5% to $X in 2021. Over the period under review, consumption, however, enjoyed a perceptible expansion. As a result, consumption reached the peak level of $X, and then shrank remarkably in the following year.

Cutting Blade Exports

Exports from Nigeria

In 2021, shipments abroad of knives and cutting blades (for machines or for mechanical appliances) decreased by -64.2% to X kg, falling for the second year in a row after two years of growth. Over the period under review, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 1,991% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, cutting blade exports dropped significantly to $X in 2021. In general, exports, however, saw a significant increase. The growth pace was the most rapid in 2013 with an increase of 3,508% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Greece (X kg), Benin (X kg) and Italy (X kg) were the main destinations of cutting blade exports from Nigeria, together comprising 90% of total exports. These countries were followed by Cote d'Ivoire and the UK, which together accounted for a further 5.6%.

From 2012 to 2021, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +33.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cutting blade exported from Nigeria were Italy ($X), Cote d'Ivoire ($X) and the UK ($X), together comprising 82% of total exports.

The UK, with a CAGR of +44.2%, 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 cutting blade export price amounted to $X per ton, falling by -18.4% against the previous year. Overall, the export price, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2013 when the average export price increased by 71%. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the UK ($X per ton), while the average price for exports to Benin ($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 Turkey (+254.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cutting Blade Imports

Imports into Nigeria

After two years of growth, supplies from abroad of knives and cutting blades (for machines or for mechanical appliances) decreased by -79% to X tons in 2021. Over the period under review, imports, however, saw measured growth. The growth pace was the most rapid in 2020 with an increase of 199%. As a result, imports reached the peak of X tons, and then contracted sharply in the following year.

In value terms, cutting blade imports contracted sharply to $X in 2021. In general, imports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of 128%. Over the period under review, imports hit record highs at $X in 2020, and then declined sharply in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest cutting blade supplier to Nigeria, with a 43% share of total imports. Moreover, cutting blade imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was held by India (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+103.0% per year) and India (+14.4% per year).

In value terms, the largest cutting blade suppliers to Nigeria were South Korea ($X), Germany ($X) and China ($X), together comprising 47% of total imports.

Among the main suppliers, South Korea, with a CAGR of +88.0%, recorded 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 cutting blade import price amounted to $X per ton, with an increase of 104% against the previous year. In general, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+10.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for knives and cutting blades (for machines or for mechanical appliances) in the world?

China remains the largest cutting blade consuming country worldwide, comprising approx. 28% of total volume. Moreover, cutting blade consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The third position in this ranking was occupied by the United States, with an 8.3% share.

What are the largest producers of knives and cutting blades (for machines or for mechanical appliances) in the world?

The country with the largest volume of cutting blade production was China, accounting for 33% of total volume. Moreover, cutting blade production in China exceeded the figures recorded by the second-largest producer, India, threefold. The third position in this ranking was occupied by the United States, with a 9.3% share.

What are the leading suppliers of knives and cutting blades (for machines or for mechanical appliances) to Nigeria?

In value terms, China constituted the largest supplier of cutting blade to Nigeria, comprising 53% of total imports. The second position in the ranking was occupied by India, with a 5.3% share of total imports. It was followed by South Korea, with a 4.1% share.

What are the leading importers of knives and cutting blades (for machines or for mechanical appliances) from Nigeria?

In value terms, India, Hungary and Switzerland constituted the largest markets for cutting blade exported from Nigeria worldwide, with a combined 95% share of total exports. These countries were followed by Romania, which accounted for a further 4.8%.

What is the average export price for knives and cutting blades (for machines or for mechanical appliances) in Nigeria?

The average cutting blade export price stood at $89,872 per ton in 2020, shrinking by -17.9% against the previous year.

What is the average import price for knives and cutting blades (for machines or for mechanical appliances) in Nigeria?

In 2020, the average cutting blade import price amounted to $10,586 per ton, shrinking by -36.4% against the previous year.

This report provides an in-depth analysis of the cutting blade 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 25736043 - Knives and cutting blades for machines or for mechanical appliances for working metal
Prodcom 25736045 - Knives and cutting blades for machines or for mechanical appliances for working wood
Prodcom 25736053 -
Prodcom 25736055 -
Prodcom 25736063 - Knives and cutting blades for agricultural, horticultural or forestry machines (excluding coulters for ploughs, discs for harrows)
Prodcom 25736065 - Knives and cutting blades, for machines or for mechanical appliances

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