GCC: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2024

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in GCC

The GCC market for ribbed or other deformed wire rod of non-alloy steel expanded to $X in 2022, surging by X% against the previous year. Overall, consumption enjoyed strong growth. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in GCC

In value terms, deformed non-alloy steel wire rod production dropped modestly to $X in 2022 estimated in export price. Overall, production saw a prominent expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports in GCC

In 2022, approx. X tons of ribbed or other deformed wire rod of non-alloy steel were exported in GCC; dropping by X% on the year before. Overall, exports continue to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2018 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, deformed non-alloy steel wire rod exports dropped notably to $X in 2022. In general, exports showed a pronounced decrease. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The level of export peaked at $X in 2021, and then fell notably in the following year.

Exports by Country

Saudi Arabia dominates exports structure, resulting at X tons, which was approx. X% of total exports in 2022. The United Arab Emirates (X tons) held a relatively small share of total exports.

Saudi Arabia was also the fastest-growing in terms of the ribbed or other deformed wire rod of non-alloy steel exports, with a CAGR of X% from 2012 to 2022. The United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia increased by X percentage points.

In value terms, Saudi Arabia ($X) remains the largest deformed non-alloy steel wire rod supplier in GCC, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia amounted to X%.

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 slight 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, deformed non-alloy steel wire rod export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably 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 stood at $X per ton.

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

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports in GCC

After four years of growth, overseas purchases of ribbed or other deformed wire rod of non-alloy steel decreased by X% to X tons in 2022. In general, imports saw a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, deformed non-alloy steel wire rod imports expanded sharply to $X in 2022. Overall, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Kuwait represented the key importing country with an import of about X tons, which recorded X% of total imports. It was distantly followed by Bahrain (X tons), making up a X% share of total imports.

Kuwait was also the fastest-growing in terms of the ribbed or other deformed wire rod of non-alloy steel imports, with a CAGR of X% from 2012 to 2022. At the same time, Bahrain (X%) displayed positive paces of growth. While the share of Kuwait (X p.p.) and Bahrain (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) constitutes the largest market for imported ribbed or other deformed wire rod of non-alloy steel in GCC, comprising X% of total imports. The second position in the ranking was held by Bahrain ($X), with a X% share of total imports.

In Kuwait, deformed non-alloy steel wire rod imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with an increase of X% against the previous year. Import price indicated slight 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, deformed non-alloy steel wire rod import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kuwait ($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 Kuwait (X%).

Source: IndexBox Platform

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