GCC: Metal Rivet Market 2024

Metal Rivet Market Size in GCC

The GCC metal rivet market rose slightly to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Metal Rivet Production in GCC

In value terms, metal rivet production expanded significantly to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Metal Rivet Exports

Exports in GCC

After two years of decline, overseas shipments of iron or steel rivets increased by X% to X tons in 2022. Over the period under review, exports showed a strong expansion. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, metal rivet exports surged to $X in 2022. In general, exports saw prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, amounting to X tons, which was approx. X% of total exports in 2022. Kuwait (X tons) followed a long way behind the leaders.

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

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

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled X%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Kuwait ($X per ton), while the United Arab Emirates 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%).

Metal Rivet Imports

Imports in GCC

In 2022, overseas purchases of iron or steel rivets decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports showed a noticeable setback. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, metal rivet imports reduced to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) was the largest importer of iron or steel rivets, creating X% of total imports. It was distantly followed by the United Arab Emirates (X tons), making up a X% share of total imports. The following importers - Kuwait (X tons), Bahrain (X tons), Oman (X tons) and Qatar (X tons) - together made up X% of total imports.

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

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

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

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, dropping by X% against the previous year. Import price indicated measured growth 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, metal rivet import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, 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 Kuwait ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :