GCC: Stainless Steel Angle Market 2024

Stainless Steel Angle Market Size in GCC

The GCC stainless steel angle market soared to $X in 2022, surging by X% against the previous year. In general, consumption, however, showed a perceptible decrease. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Stainless Steel Angle Production in GCC

In value terms, stainless steel angle production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production attained the peak level in 2022 and is likely to continue growth in the near future.

Stainless Steel Angle Exports

Exports in GCC

In 2022, after two years of growth, there was significant decline in overseas shipments of angles, shapes and sections of stainless steel or other alloy steel, when their volume decreased by X% to X tons. Overall, exports showed a noticeable descent. The growth pace was the most rapid in 2020 with an increase of X%. The volume of export peaked at X tons in 2021, and then reduced markedly in the following year.

In value terms, stainless steel angle exports shrank rapidly to $X in 2022. Over the period under review, exports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped markedly in the following year.

Exports by Country

The United Arab Emirates (X tons) and Kuwait (X tons) represented roughly X% of total exports in 2022. Bahrain (X tons) ranks next in terms of the total exports with a X% share, followed by Saudi Arabia (X%). Oman (X tons) followed a long way behind the leaders.

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

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Bahrain ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

In terms of the main exporting countries, Kuwait, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, jumping by X% against the previous year. In general, the export price saw buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Stainless Steel Angle Imports

Imports in GCC

In 2022, approx. X tons of angles, shapes and sections of stainless steel or other alloy steel were imported in GCC; waning by X% against the previous year's figure. Over the period under review, imports showed a drastic downturn. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, stainless steel angle imports shrank rapidly to $X in 2022. In general, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Kuwait dominates imports structure, reaching X tons, which was near X% of total imports in 2022. Qatar (X tons) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%).

Kuwait experienced a relatively flat trend pattern with regard to volume of imports of angles, shapes and sections of stainless steel or other alloy steel. Qatar (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Kuwait and Qatar increased by X and X percentage points, respectively.

In value terms, Kuwait ($X) constitutes the largest market for imported angles, shapes and sections of stainless steel or other alloy steel in GCC, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Kuwait amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Qatar (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price showed a temperate expansion. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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