GCC: Way-Type Unit Head Market 2024

Way-Type Unit Head Market Size in GCC

The GCC way-type unit head market reduced to $X in 2021, shrinking by -14.3% against the previous year. In general, consumption, however, posted significant growth. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank in the following year.

Way-Type Unit Head Production in GCC

In value terms, way-type unit head production reduced sharply to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by 356% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then reduced remarkably in the following year.

Way-Type Unit Head Exports

Exports in GCC

In 2021, way-type unit head exports in GCC soared to X tons, growing by 251% on 2020. Over the period under review, exports enjoyed strong growth. The growth pace was the most rapid in 2015 with an increase of 524% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, way-type unit head exports skyrocketed to $X in 2021. In general, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2015 when exports increased by 337%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

In 2021, Kuwait (X tons) was the main exporter of way-type unit heads for working metal, achieving 57% of total exports. It was distantly followed by Oman (X tons) and Saudi Arabia (X tons), together making up a 40% share of total exports. The United Arab Emirates (X tons) took a minor share of total exports.

Kuwait was also the fastest-growing in terms of the way-type unit heads for working metal exports, with a CAGR of +97.0% from 2012 to 2021. At the same time, Saudi Arabia (+38.8%) and Oman (+21.5%) displayed positive paces of growth. By contrast, the United Arab Emirates (-20.2%) illustrated a downward trend over the same period. Kuwait (+56 p.p.), Saudi Arabia (+16 p.p.) and Oman (+12 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -62.4% from 2012 to 2021, respectively.

In value terms, Saudi Arabia ($X) remains the largest way-type unit head supplier in GCC, comprising 48% of total exports. The second position in the ranking was held by Kuwait ($X), with a 24% share of total exports. It was followed by Oman, with a 24% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia totaled +77.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Kuwait (+97.1% per year) and Oman (+28.0% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, shrinking by -40.6% against the previous year. Over the period under review, the export price, however, posted prominent growth. The most prominent rate of growth was recorded in 2018 an increase of 142%. The level of export peaked at $X per ton in 2020, and then shrank remarkably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+28.0%), while the other leaders experienced more modest paces of growth.

Way-Type Unit Head Imports

Imports in GCC

In 2021, approx. X tons of way-type unit heads for working metal were imported in GCC; picking up by 59% compared with the previous year's figure. Overall, imports, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2015 with an increase of 216% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, way-type unit head imports totaled $X in 2021. Over the period under review, imports, however, showed a slight shrinkage. The pace of growth was the most pronounced in 2013 when imports increased by 696%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Qatar (X tons) was the key importer of way-type unit heads for working metal, achieving 61% of total imports. It was distantly followed by the United Arab Emirates (X tons), Kuwait (X tons) and Oman (X tons), together mixing up a 39% share of total imports.

Imports into Qatar increased at an average annual rate of +31.8% from 2012 to 2021. At the same time, Kuwait (+37.3%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +37.3% from 2012-2021. By contrast, the United Arab Emirates (-12.3%) and Oman (-20.3%) illustrated a downward trend over the same period. Qatar (+61 p.p.) and Kuwait (+8.8 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates and Oman saw its share reduced by -24.5% and -31.7% from 2012 to 2021, respectively.

In value terms, Qatar ($X) constitutes the largest market for imported way-type unit heads for working metal in GCC, comprising 62% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 22% share of total imports. It was followed by Kuwait, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Qatar stood at +35.4%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-6.9% per year) and Kuwait (+45.1% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, which is down by -37.1% against the previous year. Overall, the import price, however, enjoyed a pronounced increase. The pace of growth was the most pronounced in 2013 when the import price increased by 525%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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