Nigeria - Iron Or Steel Nuts (Including Self-Locking Nuts) - Market Analysis, Forecast, Size, Trends And Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingMetal Self-Locking Nut Price in Nigeria - 2022
Contents:
- Metal Self-Locking Nut Price in Nigeria (CIF) - 2022
- Metal Self-Locking Nut Price in Nigeria (FOB) - 2022
- Metal Self-Locking Nut Imports in Nigeria
- Metal Self-Locking Nut Exports in Nigeria
Metal Self-Locking Nut Price in Nigeria (CIF) - 2022
In 2022, the average metal self-locking nut import price amounted to $3,564 per ton, which is down by -48.3% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 78% against the previous year. Over the period under review, average import prices hit record highs at $7,934 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($16,691 per ton), while the price for China ($2,073 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Metal Self-Locking Nut Price in Nigeria (FOB) - 2022
The average metal self-locking nut export price stood at $2,031 per ton in 2022, increasing by 3.9% against the previous year. Overall, the export price, however, recorded a deep slump. The growth pace was the most rapid in 2014 when the average export price increased by 90% against the previous year. As a result, the export price reached the peak level of $8,879 per ton. From 2015 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($3,441 per ton), while the average price for exports to Burkina Faso ($520 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 the UK (+8.1%), while the prices for the other major destinations experienced a decline.
Metal Self-Locking Nut Imports in Nigeria
In 2022, approx. 823 tons of iron or steel nuts (including self-locking nuts) were imported into Nigeria; picking up by 26% on the previous year's figure. Overall, total imports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +17.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.0% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 27%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, metal self-locking nut imports fell notably to $2.9M in 2022. Over the period under review, imports, however, continue to indicate a noticeable contraction. The growth pace was the most rapid in 2020 with an increase of 21%.
Import of Metal Self-Locking Nut in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 232 | 312 | 1,345 | 1,105 | 68.3% |
Antigua and Barbuda | 384 | 454 | 548 | 479 | 7.6% |
Belgium | 155 | 91.6 | 30.6 | 199 | 8.7% |
France | 537 | 117 | 128 | 189 | -29.4% |
Germany | 242 | 303 | 224 | 144 | -15.9% |
United States | 322 | 1,163 | 601 | 122 | -27.6% |
Sweden | 0.8 | 7.0 | 120 | 87.7 | 378.6% |
South Korea | 227 | 11.8 | 5.9 | 59.0 | -36.2% |
Turkey | 10.1 | 82.5 | 13.8 | 49.6 | 70.0% |
India | 37.9 | 122 | 24.5 | 45.0 | 5.9% |
Taiwan (Chinese) | 52.1 | 45.3 | 33.0 | 31.6 | -15.4% |
Netherlands | 90.8 | 17.6 | 112 | 24.7 | -35.2% |
Italy | 506 | 227 | 272 | 3.8 | -80.4% |
Others | 473 | 1,017 | 1,051 | 394 | -5.9% |
Total | 3,269 | 3,970 | 4,509 | 2,934 | -3.5% |
Top Suppliers of Metal Self-Locking Nut to Nigeria in 2022:
- China (533.2 tons)
- Antigua and Barbuda (100.4 tons)
- Belgium (27.7 tons)
- South Korea (21.7 tons)
- Sweden (19.9 tons)
- India (19.7 tons)
- Turkey (19.3 tons)
- Germany (12.4 tons)
- France (12.3 tons)
- Taiwan (Chinese) (10.1 tons)
- United States (7.3 tons)
- Netherlands (4.1 tons)
- Italy (0.7 tons)
Metal Self-Locking Nut Exports in Nigeria
For the fourth consecutive year, Nigeria recorded growth in overseas shipments of iron or steel nuts (including self-locking nuts), which increased by 34% to 18 tons in 2022. Over the period under review, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +20.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +76.3% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, metal self-locking nut exports skyrocketed to $38K in 2022. In general, exports showed a strong expansion. The growth pace was the most rapid in 2020 when exports increased by 81%. As a result, the exports reached the peak of $48K. From 2021 to 2022, the growth of the exports failed to regain momentum.
Export of Metal Self-Locking Nut in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Angola | 9.6 | 11.0 | 9.7 | 11.4 | 5.9% |
Netherlands | N/A | 0.1 | 0.3 | 2.9 | 438.5% |
Burkina Faso | 1.7 | 0.3 | 1.3 | 1.7 | 0.0% |
Romania | N/A | N/A | N/A | 1.3 | 0% |
Senegal | N/A | N/A | N/A | 0.7 | 0% |
Others | 15.3 | 36.7 | 15.6 | 19.6 | 8.6% |
Total | 26.7 | 48.2 | 27.0 | 37.6 | 12.1% |
Top Export Markets for Metal Self-Locking Nut from Nigeria in 2022:
- Angola (12.4 tons)
- Burkina Faso (3.2 tons)
- Romania (0.8 tons)
- Netherlands (0.8 tons)
- Senegal (0.6 tons)
This report provides an in-depth analysis of the metal self-locking nut 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 25941187 - Iron or steel nuts (including self-locking nuts) (excluding of stainless steel, turned from bars, rods, profiles, or wire, of solid section, of a hole diameter . 6 mm)
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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- 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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- 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- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- 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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the metal self-locking nut market in Nigeria.
This report provides an in-depth analysis of the metal nut market in Nigeria.
This report provides an in-depth analysis of the stainless steel nut market in Nigeria.
This report provides an in-depth analysis of the market for stainless steel self-tapping screw in Nigeria.
This report provides an in-depth analysis of the threaded metal articles market in Nigeria.
This report provides an in-depth analysis of the metal wood screw market in Nigeria.
This report provides an in-depth analysis of the metal washer market in Nigeria.
This report provides an in-depth analysis of the metal spring washer market in Nigeria.
This report provides an in-depth analysis of the metal self-tapping screw market in Nigeria.
This report provides an in-depth analysis of the metal screw hook market in Nigeria.
Explore the top import markets for metal self-locking nuts. Discover the countries with the highest import values and opportunities for exporters. Data from IndexBox platform.
Explore the top import markets for metal self-locking nuts based on their import value in 2022. Understand the key statistics and market dynamics of these countries.
Explore the leading import markets for nail and bolt products, including the United States, Germany, Mexico, China, and more. Discover key statistics and opportunities in this thriving industry.
In value terms, screws, bolts, nuts, coach screws imports stood at $X in 2016. The total import value increased at an average annual rate of +X% from 2007 to 2016; the trend pattern indicated some...
In value terms, copper, nails, tacks, drawing pins, staples imports amounted to $X in 2016. The total import value increased at an average annual rate of +X% from 2007 to 2016; the trend pattern in...
In value terms, screws, bolts, nuts, coach screws exports stood at $X in 2016. Overall, it indicated a perceptible increase from 2007 to 2016: the total exports value increased at an average annual ...
In value terms, copper, nails, tacks, drawing pins, staples exports totaled $X in 2016. In general, copper, nails, tacks, drawing pins, staples exports continue to indicate a relatively flat trend ...
In 2016, the global imports of nail and bolt totaled X tons, going down by -X% against the previous year level. Overall, nail and bolt imports continue to indicate a relatively flat trend patte...
In 2016, the global imports of nail and bolt totaled X tons, going down by -X% against the previous year level. Overall, nail and bolt imports continue to indicate a relatively flat trend patte...
Explore the top import markets for metal self-locking nuts. Discover the countries with the highest import values and opportunities for exporters. Data from IndexBox platform.