Report Update Nov 1, 2024

Nigeria - Parts of Chains of Iron or Steel - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Nigeria: Metal Chain Parts Market 2024

Metal Chain Parts Market Size in Nigeria

In 2022, the Nigerien metal chain parts market decreased by X% to $X, falling for the sixth year in a row after three years of growth. Overall, consumption continues to indicate a abrupt descent. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Metal Chain Parts Exports

Exports from Nigeria

In 2015, the amount of parts of chains of iron or steel exported from Nigeria shrank rapidly to X kg, declining by X% compared with the previous year's figure. Over the period under review, exports faced a precipitous decline. Over the period under review, the exports hit record highs at X tons in 2014, and then shrank significantly in the following year.

In value terms, metal chain parts exports reduced remarkably to $X in 2015. Overall, exports showed a precipitous decrease. Over the period under review, the exports reached the maximum at $X in 2014, and then shrank sharply in the following year.

Exports by Country

Ghana (X kg) was the main destination for metal chain parts exports from Nigeria, accounting for a X% share of total exports. Moreover, metal chain parts exports to Ghana exceeded the volume sent to the second major destination, the UK (X kg), fourfold. The third position in this ranking was held by Norway (X kg), with a X% share.

From 2014 to 2015, the average annual rate of growth in terms of volume to Ghana amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Norway (X% per year).

In value terms, the UK ($X), Ghana ($X) and Norway ($X) constituted the largest markets for metal chain parts exported from Nigeria worldwide, together accounting for X% of total exports. Moreover, metal chain parts exports in the UK exceeded the figures recorded by the second-largest exporter, Ghana, twofold.

Among the main countries of destination, Norway, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2015, the average metal chain parts export price amounted to $X per ton, which is down by X% against the previous year. In general, the export price faced a dramatic slump. Over the period under review, the average export prices reached the maximum at $X per ton in 2014, and then declined markedly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2015, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.

From 2014 to 2015, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced a decline.

Metal Chain Parts Imports

Imports into Nigeria

In 2022, metal chain parts imports into Nigeria declined dramatically to X tons, falling by X% compared with the year before. Overall, imports recorded a pronounced slump. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, metal chain parts imports contracted notably to $X in 2022. Over the period under review, imports faced a abrupt shrinkage. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

The UK (X tons), China (X tons) and India (X tons) were the main suppliers of metal chain parts imports to Nigeria, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the UK ($X) and China ($X) were the largest metal chain parts suppliers to Nigeria, together comprising X% of total imports. Italy, Germany, Belgium, India, France, South Africa, the United Arab Emirates, the Netherlands, Kenya and Turkey lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal chain parts import price amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, saw a abrupt setback. The pace of growth appeared the most rapid in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for parts of chains of iron or steel in the world?

China constituted the country with the largest volume of metal chain parts consumption, accounting for 21% of total volume. Moreover, metal chain parts consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The third position in this ranking was occupied by the United States, with a 6.1% share.

What are the largest producers of parts of chains of iron or steel in the world?

China remains the largest metal chain parts producing country worldwide, comprising approx. 29% of total volume. Moreover, metal chain parts production in China exceeded the figures recorded by the second-largest producer, India, threefold. The third position in this ranking was occupied by Indonesia, with a 6.3% share.

What are the leading suppliers of parts of chains of iron or steel to Nigeria?

In value terms, the largest metal chain parts suppliers to Nigeria were Switzerland, Germany and the UK, with a combined 46% share of total imports. These countries were followed by the United Arab Emirates, Italy, China, India, France, South Africa, Japan, the United States, Belgium and Ethiopia, which together accounted for a further 44%.

What are the leading importers of parts of chains of iron or steel from Nigeria?

In value terms, the largest markets for metal chain parts exported from Nigeria were the UK and Ghana.

What is the average export price for parts of chains of iron or steel in Nigeria?

The average metal chain parts export price stood at $2,261 per ton in 2020, with a decrease of -6.7% against the previous year.

What is the average import price for parts of chains of iron or steel in Nigeria?

In 2020, the average metal chain parts import price amounted to $5,360 per ton, which is down by -23.9% against the previous year.

This report provides an in-depth analysis of the metal chain parts 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 25931780 - Parts of chains, n.e.c., of iron or 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 2012–2023
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