GCC: Metal Chain Market 2024

Metal Chain Market Size in GCC

The GCC metal chain market soared to $X in 2022, increasing by X% against the previous year. In general, consumption posted a buoyant increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Metal Chain Production in GCC

In value terms, metal chain production rose significantly to $X in 2022 estimated in export price. In general, production recorded a strong increase. The pace of growth was the most pronounced in 2017 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Metal Chain Exports

Exports in GCC

In 2022, overseas shipments of iron or steel chain decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal chain exports rose sharply to $X in 2022. Over the period under review, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Saudi Arabia (X tons), constituting a X% share of total exports. Oman (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to metal chain exports from the United Arab Emirates stood at X%. At the same time, Oman (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. Oman (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, rising by X% against the previous year. Export price indicated a tangible 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 2014 an increase of X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

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 Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Metal Chain Imports

Imports in GCC

In 2022, imports of iron or steel chain in GCC soared to X tons, growing by X% against the previous year. Overall, imports saw a relatively flat trend pattern. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, metal chain imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a abrupt decline. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the largest importing country with an import of about X tons, which reached X% of total imports. It was distantly followed by Oman (X tons), achieving a X% share of total imports. Qatar (X tons) took a minor share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (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, Qatar (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported iron or steel chain in GCC, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports.

In the United Arab Emirates, metal chain imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Oman (X% per year) and Qatar (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, falling by X% against the previous year. In general, the import price recorded a deep contraction. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Oman ($X per ton), while Qatar ($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 a decline in the import price figures.

Source: IndexBox Platform