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Report GCC - Iron and Steel - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

GCC - Iron and Steel - Market Analysis, Forecast, Size, Trends and Insights

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GCC: Iron And Steel Market 2024

Iron And Steel Exports

Exports in GCC

In 2021, approx. X tons of iron and steel were exported in GCC; dropping by -42.2% compared with the previous year's figure. Overall, exports recorded a pronounced decline. The most prominent rate of growth was recorded in 2013 when exports increased by 111% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, iron and steel exports shrank sharply to $X in 2021. Over the period under review, exports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2013 with an increase of 97% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Oman (X tons), Kuwait (X tons) and Saudi Arabia (X tons) was the key exporter of iron and steel in GCC, generating 96% of total export. The United Arab Emirates (X tons) held a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +41.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel supplying countries in GCC were Oman ($X), Kuwait ($X) and Saudi Arabia ($X), together comprising 97% of total exports.

Saudi Arabia, with a CAGR of +37.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, with an increase of 23% against the previous year. In general, the export price, however, continues to indicate a slight setback. The pace of growth was the most pronounced in 2017 when the export price increased by 28%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-0.9%), while the other leaders experienced a decline in the export price figures.

Iron And Steel Imports

Imports in GCC

In 2021, overseas purchases of iron and steel increased by 0.2% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, recorded a pronounced contraction. The pace of growth was the most pronounced in 2015 with an increase of 40%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, iron and steel imports soared to $X in 2021. Over the period under review, imports, however, saw a abrupt shrinkage. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the major importer of iron and steel, constituting 47% of total imports. Kuwait (X tons) took a 30% share (based on physical terms) of total imports, which put it in second place, followed by Saudi Arabia (16%) and Oman (6.3%).

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +22.8%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported iron and steel in GCC, comprising 50% of total imports. The second position in the ranking was held by Kuwait ($X), with a 24% share of total imports. It was followed by Saudi Arabia, with a 20% share.

In the United Arab Emirates, iron and steel imports increased at an average annual rate of +3.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (-9.8% per year) and Saudi Arabia (-12.2% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, with an increase of 20% against the previous year. Over the period under review, the import price, however, recorded a slight descent. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of consumption in 2021 were the United Arab Emirates, Kuwait and Saudi Arabia, with a combined 96% share of total consumption. These countries were followed by Oman, which accounted for a further 3.1%.
In value terms, the largest iron and steel supplying countries in GCC were Oman, Kuwait and Saudi Arabia, with a combined 97% share of total exports.
In value terms, the United Arab Emirates constitutes the largest market for imported iron and steel in GCC, comprising 50% of total imports. The second position in the ranking was taken by Kuwait, with a 24% share of total imports. It was followed by Saudi Arabia, with a 20% share.
The export price in GCC stood at $522 per ton in 2021, jumping by 23% against the previous year.
The import price in GCC stood at $452 per ton in 2021, rising by 20% against the previous year.

This report provides an in-depth analysis of the iron and steel market in GCC. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

    Country coverage:

    Data coverage:

    • Market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Production in GCC, split by region and country
    • Trade (exports and imports) in GCC
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS

    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. CONSUMPTION BY COUNTRY
      3. MARKET FORECAST TO 2030

    4. 4. MOST PROMISING PRODUCT

      Finding New Products to Diversify Your Business

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCT
      4. MOST TRADED PRODUCT
      5. MOST PROFITABLE PRODUCT FOR EXPORT

    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES

    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Exports

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS

    7. 7. PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE
      2. PRODUCTION BY COUNTRY

    8. 8. IMPORTS

      The Largest Importers on The Market and How They Succeed

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. EXPORTS

      The Largest Exporters on The Market and How They Succeed

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO

    11. 11. COUNTRY PROFILES

      The Largest Markets And Their Profiles

      This Chapter is Available Only for the Professional Edition PRO
      • Bahrain
      • Kuwait
      • Oman
      • Qatar
      • Saudi Arabia
      • United Arab Emirates

    12. LIST OF TABLES

      1. Key Findings In 2023
      2. Market Volume, In Physical Terms, 2012–2023
      3. Market Value, 2012–2023
      4. Per Capita Consumption, By Country, 2018–2023
      5. Production, In Physical Terms, By Country, 2012–2023
      6. Imports, In Physical Terms, By Country, 2012–2023
      7. Imports, In Value Terms, By Country, 2012–2023
      8. Import Prices, By Country Of Destination, 2012–2023
      9. Exports, In Physical Terms, By Country, 2012–2023
      10. Exports, In Value Terms, By Country, 2012–2023
      11. Export Prices, By Country Of Origin, 2012–2023

    13. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2023
      2. Market Value, 2012–2023
      3. Consumption, By Country, 2023
      4. Market Volume Forecast to 2030
      5. Market Value Forecast to 2030
      6. Products: Market Size And Growth, By Type
      7. Products: Average Per Capita Consumption, By Type
      8. Products: Exports And Growth, By Type
      9. Products: Export Prices And Growth, By Type
      10. Production Volume And Growth
      11. Exports And Growth
      12. Export Prices And Growth
      13. Market Size And Growth
      14. Per Capita Consumption
      15. Imports And Growth
      16. Import Prices
      17. Production, In Physical Terms, 2012–2023
      18. Production, In Value Terms, 2012–2023
      19. Production, By Country, 2023
      20. Production, In Physical Terms, By Country, 2012–2023
      21. Imports, In Physical Terms, 2012–2023
      22. Imports, In Value Terms, 2012–2023
      23. Imports, In Physical Terms, By Country, 2023
      24. Imports, In Physical Terms, By Country, 2012–2023
      25. Imports, In Value Terms, By Country, 2012–2023
      26. Import Prices, By Country, 2012–2023
      27. Exports, In Physical Terms, 2012–2023
      28. Exports, In Value Terms, 2012–2023
      29. Exports, In Physical Terms, By Country, 2023
      30. Exports, In Physical Terms, By Country, 2012–2023
      31. Exports, In Value Terms, By Country, 2012–2023
      32. Export Prices, 2012–2023

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