GCC: Coated Arc-Welding Electrode Market 2024

Coated Arc-Welding Electrode Exports

Exports in GCC

In 2023, coated arc-welding electrode exports in GCC contracted to X tons, leveling off at 2022 figures. Total exports indicated a temperate increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, coated arc-welding electrode exports rose modestly to $X in 2023. Over the period under review, exports, however, enjoyed a noticeable expansion. The growth pace was the most rapid in 2017 when exports increased by X%. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, the United Arab Emirates (X tons) was the key exporter of coated base metal electrodes for electric arc-welding, committing X% of total exports. Saudi Arabia (X tons) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Kuwait (X%). Oman (X tons) took a minor share of total exports.

From 2012 to 2023, average annual rates of growth with regard to coated arc-welding electrode exports from the United Arab Emirates stood at X%. At the same time, Kuwait (X%), Oman (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Saudi Arabia and Kuwait increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest coated arc-welding electrode supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports. It was followed by Kuwait, with a X% share.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates stood at X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Kuwait (X% per year).

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, rising by X% against the previous year. Export price indicated a mild increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, coated arc-welding electrode export price increased by X% against 2021 indices. The pace of growth was the most pronounced in 2017 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2023 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Coated Arc-Welding Electrode Imports

Imports in GCC

After two years of decline, supplies from abroad of coated base metal electrodes for electric arc-welding increased by X% to X tons in 2023. Over the period under review, imports, however, continue to indicate a pronounced descent. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, coated arc-welding electrode imports soared to $X in 2023. Overall, imports, however, continue to indicate a pronounced slump. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the main importer of coated base metal electrodes for electric arc-welding in GCC, with the volume of imports resulting at X tons, which was near X% of total imports in 2023. Saudi Arabia (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Oman (X%) and Qatar (X%). Kuwait (X tons) and Bahrain (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2023. Oman, Bahrain and Qatar experienced a relatively flat trend pattern. Kuwait (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Oman (X p.p.) and Qatar (X p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported coated base metal electrodes for electric arc-welding in GCC, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

In the United Arab Emirates, coated arc-welding electrode imports remained relatively stable over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Qatar (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, import prices hit record highs in 2023 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Qatar ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform