Bahrain: Steel Stranded Wire Market 2024

Steel Stranded Wire Market Size in Bahrain

The Bahraini steel stranded wire market surged to $X in 2022, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a deep reduction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Steel Stranded Wire Exports

Exports from Bahrain

Steel stranded wire exports from Bahrain contracted notably to X tons in 2022, which is down by X% against the year before. In general, exports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, steel stranded wire exports plummeted to $X in 2022. Overall, exports, however, posted a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then fell significantly in the following year.

Exports by Country

China (X tons), Saudi Arabia (X tons) and Kuwait (X tons) were the main destinations of steel stranded wire exports from Bahrain, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) remains the key foreign market for iron or steel stranded wire, ropes and cables exports from Bahrain, comprising X% of total exports. The second position in the ranking was held by Kuwait ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (X% per year) and China (X% per year).

Export Prices by Country

The average steel stranded wire export price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to China ($X 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 Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports into Bahrain

In 2022, approx. X tons of iron or steel stranded wire, ropes and cables were imported into Bahrain; surging by X% compared with the previous year. Overall, imports, however, showed a abrupt curtailment. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, steel stranded wire imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a abrupt downturn. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest steel stranded wire supplier to Bahrain, with a X% share of total imports. Moreover, steel stranded wire imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was taken by the United Arab Emirates (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United Arab Emirates (X% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel stranded wire, ropes and cables to Bahrain, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the average steel stranded wire import price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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