GCC: Stranded Wire Market 2024

Stranded Wire Market Size in GCC

The GCC stranded wire market contracted significantly to $X in 2022, waning by X% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Stranded Wire Production in GCC

In value terms, stranded wire production expanded notably to $X in 2022 estimated in export price. Over the period under review, production, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Stranded Wire Exports

Exports in GCC

Stranded wire exports surged to X tons in 2022, rising by X% compared with 2021 figures. Over the period under review, exports, however, recorded a pronounced slump. 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, stranded wire exports rose notably to $X in 2022. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Bahrain represented the main exporter of stranded wire, ropes and cables in GCC, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons) and Saudi Arabia (X tons), together achieving a X% share of total exports. Oman (X tons) and Kuwait (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Kuwait (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual growth rate of value in Bahrain amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, waning by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

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

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

Stranded Wire Imports

Imports in GCC

In 2022, purchases abroad of stranded wire, ropes and cables increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a noticeable downturn. The growth pace was the most rapid in 2013 when imports increased by 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 failed to regain momentum.

In value terms, stranded wire imports amounted to $X in 2022. In general, imports, however, saw a perceptible decline. The growth pace was the most rapid in 2013 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the main importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by Saudi Arabia (X tons), Kuwait (X tons), Oman (X tons) and Bahrain (X tons), together mixing up a X% share of total imports. Qatar (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the stranded wire, ropes and cables imports, with a CAGR of X% from 2012 to 2022. Oman (X%), Kuwait (X%), Bahrain (X%), Qatar (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Oman increased by X and X percentage points, respectively.

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

In the United Arab Emirates, stranded wire imports increased 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: Saudi Arabia (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, reducing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Saudi Arabia ($X per ton) and Oman ($X per ton), while Bahrain ($X per ton) and the United Arab Emirates ($X per ton) were 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 more modest paces of growth.

Source: IndexBox Platform

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