GCC: Iron Household Articles Market 2024

Iron Household Articles Market Size in GCC

The GCC iron household articles market fell slightly to $X in 2023, approximately reflecting the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Iron Household Articles Production in GCC

In value terms, iron household articles production rose rapidly to $X in 2023 estimated in export price. Over the period under review, production enjoyed resilient growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Iron Household Articles Exports

Exports in GCC

In 2023, shipments abroad of table, kitchen or household articles and parts of iron increased by X% to X tons, rising for the fourth year in a row after two years of decline. Total exports indicated moderate growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of X%. The volume of export peaked in 2023 and is expected to retain growth in the immediate term.

In value terms, iron household articles exports rose slightly to $X in 2023. Total exports indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, recording X tons, which was near X% of total exports in 2023. It was distantly followed by Saudi Arabia (X tons), creating a X% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Kuwait (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Kuwait increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Kuwait (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, surging by X% against the previous year. Overall, the export price, however, showed a mild reduction. The pace of growth appeared the most rapid in 2017 when the export price increased by X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced mixed trends in the export price figures.

Iron Household Articles Imports

Imports in GCC

In 2023, the amount of table, kitchen or household articles and parts of iron imported in GCC reached X tons, picking up by X% compared with the year before. In general, imports, however, continue to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, iron household articles imports skyrocketed to $X in 2023. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, the United Arab Emirates (X tons) represented the largest importer of table, kitchen or household articles and parts of iron, committing X% of total imports. It was distantly followed by Saudi Arabia (X tons), Kuwait (X tons), Qatar (X tons) and Oman (X tons), together making up a X% share of total imports. Bahrain (X tons) followed a long way behind the leaders.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of table, kitchen or household articles and parts of iron. At the same time, Qatar (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. Oman experienced a relatively flat trend pattern. By contrast, Kuwait (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the United Arab Emirates, Qatar, Oman and Bahrain increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United Arab Emirates, iron household articles imports expanded at an average annual rate of X% over the period from 2012-2023. 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

The import price in GCC stood at $X per ton in 2023, picking up by X% against the previous year. Import price indicated measured growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, iron household articles import price decreased 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 reached the maximum at $X per ton in 2019; however, from 2020 to 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Kuwait ($X per ton) and the United Arab Emirates ($X per ton), while Oman ($X per ton) and Qatar ($X per ton) were amongst the lowest.

From 2012 to 2023, 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