MENA: Stainless Steel Angle Market 2024

Stainless Steel Angle Market Size in MENA

For the third year in a row, the MENA's stainless steel angle market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Stainless Steel Angle Production in MENA

In value terms, stainless steel angle production reduced modestly to $X in 2022 estimated in export price. In general, production showed strong growth. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Stainless Steel Angle Exports

Exports in MENA

In 2022, exports of angles, shapes and sections of stainless steel or other alloy steel in MENA declined notably to X tons, reducing by X% compared with 2021 figures. Overall, exports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then declined significantly in the following year.

In value terms, stainless steel angle exports dropped notably to $X in 2022. Over the period under review, exports, however, continue to indicate prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then reduced dramatically in the following year.

Exports by Country

Turkey represented the largest exporter of angles, shapes and sections of stainless steel or other alloy steel in MENA, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. The United Arab Emirates (X tons) held the second position in the ranking, followed by Kuwait (X tons). All these countries together took approx. X% share of total exports. Bahrain (X tons) took a little share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. While the share of Turkey (X p.p.), Kuwait (X p.p.) and Bahrain (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest stainless steel angle supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Kuwait, with an X% share.

In Turkey, stainless steel angle exports expanded at 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).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, rising by X% against the previous year. Export price indicated a pronounced increase 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, stainless steel angle export price increased by X% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Stainless Steel Angle Imports

Imports in MENA

In 2022, the amount of angles, shapes and sections of stainless steel or other alloy steel imported in MENA contracted rapidly to X tons, waning by X% on 2021 figures. In general, imports recorded a deep downturn. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, stainless steel angle imports amounted to $X in 2022. Overall, imports recorded a deep setback. The growth pace was the most rapid in 2020 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Kuwait (X tons), Lebanon (X tons) and Turkey (X tons) was the major importer of angles, shapes and sections of stainless steel or other alloy steel in MENA, constituting X% of total import. Qatar (X tons), the United Arab Emirates (X tons) and Yemen (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Kuwait ($X) and Lebanon ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports. The United Arab Emirates, Qatar and Yemen lagged somewhat behind, together comprising a further X%.

Yemen, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, growing by X% against the previous year. Import price indicated buoyant 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, stainless steel angle import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the import price increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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