GCC: Base Metal Hook Market 2024

Base Metal Hook Market Size in GCC

The GCC base metal hook market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption, however, showed a prominent increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Base Metal Hook Production in GCC

In value terms, base metal hook production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production posted a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Base Metal Hook Exports

Exports in GCC

In 2022, shipments abroad of base metal hooks, eyes and eyelets increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports recorded a prominent expansion. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, base metal hook exports skyrocketed to $X in 2022. In general, exports enjoyed a strong increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Bahrain (X tons), generating a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to base metal hook exports from the United Arab Emirates stood at X%. At the same time, Bahrain (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates and Bahrain increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest base metal hook supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Bahrain ($X), with a X% share of total exports.

In the United Arab Emirates, base metal hook exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, surging by X% against the previous year. Export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, base metal hook export price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2020 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat 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 amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Base Metal Hook Imports

Imports in GCC

In 2022, purchases abroad of base metal hooks, eyes and eyelets was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, base metal hook imports shrank dramatically to $X in 2022. Over the period under review, imports, however, continue to indicate a deep reduction. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) represented the largest importer of base metal hooks, eyes and eyelets, achieving X% of total imports. Kuwait (X tons) took the second position in the ranking, followed by Qatar (X tons) and Oman (X tons). All these countries together held approx. X% share of total imports. Bahrain (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to base metal hook imports into the United Arab Emirates stood at X%. At the same time, Oman (X%) and Qatar (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Kuwait (X%) and Bahrain (X%) illustrated a downward trend over the same period. While the share of Kuwait (X p.p.), Qatar (X p.p.) and Oman (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported base metal hooks, eyes and eyelets in GCC, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

In the United Arab Emirates, base metal hook imports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Qatar (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with a decrease of X% against the previous year. Import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2021, and then shrank markedly in the following year.

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

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

Source: IndexBox Platform