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Last Updated: Apr 26, 2025 | Study Period: 2024-2030
In order to increase its strength and resistance to fracture in comparison to other kinds of iron, steel is an alloy composed of iron and often contains a few tenths of a percent of carbon.
Many additional components could be included or added. An additional 11% chromium is often required for corrosion and oxidation resistant stainless steels.
Steel is utilized in structures, infrastructure, tools, vehicles, machinery, electrical appliances, weaponry, and rockets due to its great tensile strength and low price. Steel's foundational metal is iron.
It can take one of two crystalline (allotropic) forms, body-centered cubic or face-centered cubic, depending on the temperature. Steel and cast iron's variety of special qualities are a result of the interaction of the various iron allotropes with the alloying elements, primarily carbon.
Pure iron is quite ductile, or soft and easily made, since the crystal structure of pure iron offers comparatively little barrier to the iron atoms slipping past one another. Small amounts of carbon, other elements, and iron inclusions work as hardening agents in steel to stop dislocations from moving.
The NIgeria steel market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
Nigeria, a nation with a population of over 200 million people and a wealth of natural resources, depends heavily on oil sales for survival. The metal ores business is not spared from the neglect of other industries caused by the strong reliance on the oil sector.
In Nigeria, crude steel output has generally decreased steadily;. Prior to the implementation of the revised policy both the Production of Ingots (Ping) and Continuous-Cast Steel (PCCS) followed the same pattern.
With the commissioning of the Aladja Steel complex, the first phase of which was constructed at naira, the infrastructure for creating steel has evolved to a new level. Technology for manufacturing steel in an electric arc furnace was used in the factory.
The mill's design called for producing finished billets rather than wire or iron rods. The remaining billets were given to three rolling mills in Jos, Osogbo, and Katsina, which produced rods with a diameter ranging from 6 mm to 40 mm. The rolling mills' manufacturing capacity was separated into stages.
| Sl no | Topic |
| 1 | Market Segmentation |
| 2 | Scope of the report |
| 3 | Abbreviations |
| 4 | Research Methodology |
| 5 | Executive Summary |
| 6 | Introduction |
| 7 | Insights from Industry stakeholders |
| 8 | Cost breakdown of Product by sub-components and average profit margin |
| 9 | Disruptive innovation in the Industry |
| 10 | Technology trends in the Industry |
| 11 | Consumer trends in the industry |
| 12 | Recent Production Milestones |
| 13 | Component Manufacturing in US, EU and China |
| 14 | COVID-19 impact on overall market |
| 15 | COVID-19 impact on Production of components |
| 16 | COVID-19 impact on Point of sale |
| 17 | Market Segmentation, Dynamics and Forecast by Geography, 2024-2030 |
| 18 | Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030 |
| 19 | Market Segmentation, Dynamics and Forecast by Application, 2024-2030 |
| 20 | Market Segmentation, Dynamics and Forecast by End use, 2024-2030 |
| 21 | Product installation rate by OEM, 2023 |
| 22 | Incline/Decline in Average B-2-B selling price in past 5 years |
| 23 | Competition from substitute products |
| 24 | Gross margin and average profitability of suppliers |
| 25 | New product development in past 12 months |
| 26 | M&A in past 12 months |
| 27 | Growth strategy of leading players |
| 28 | Market share of vendors, 2023 |
| 29 | Company Profiles |
| 30 | Unmet needs and opportunity for new suppliers |
| 31 | Conclusion |
| 32 | Appendix |
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