MENA: Cored Arc-Welding Wire Market 2024

Cored Arc-Welding Wire Market Size in MENA

The MENA's cored arc-welding wire market expanded sharply to $X in 2023, growing by X% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2023, the growth of the market failed to regain momentum.

Cored Arc-Welding Wire Production in MENA

In value terms, cored arc-welding wire production expanded sharply to $X in 2023 estimated in export price. In general, production, however, recorded a mild slump. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2023, production stood at a somewhat lower figure.

Cored Arc-Welding Wire Exports

Exports in MENA

In 2023, the amount of cored arc-welding wire exported in MENA expanded remarkably to X tons, surging by X% on the previous year's figure. In general, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, cored arc-welding wire exports shrank to $X in 2023. Overall, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2022, and then contracted in the following year.

Exports by Country

Turkey represented the major exporter of cored arc-welding wire in MENA, with the volume of exports reaching X tons, which was near X% of total exports in 2023. The United Arab Emirates (X tons) ranks second in terms of the total exports with a X% share, followed by Iran (X%). The following exporters - Saudi Arabia (X tons) and Morocco (X tons) - each resulted at a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to cored arc-welding wire exports from Turkey stood at X%. At the same time, Morocco (X%) and Iran (X%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2023. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Turkey, Iran and Morocco increased by X, X and X percentage points, respectively.

In value terms, Turkey ($X) remains the largest cored arc-welding wire supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Morocco, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Turkey amounted to X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Morocco (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then dropped markedly in the following year.

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

From 2012 to 2023, 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.

Cored Arc-Welding Wire Imports

Imports in MENA

In 2023, after three years of decline, there was significant growth in overseas purchases of cored arc-welding wire, when their volume increased by X% to X tons. Over the period under review, imports saw a relatively flat trend pattern. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, cored arc-welding wire imports rose markedly to $X in 2023. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are likely to see steady growth in the immediate term.

Imports by Country

In 2023, the United Arab Emirates (X tons) and Turkey (X tons) represented the main importers of cored arc-welding wire in MENA, together amounting to approx. X% of total imports. It was distantly followed by Egypt (X tons) and Saudi Arabia (X tons), together achieving a X% share of total imports. Qatar (X tons), Kuwait (X tons) and Oman (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Qatar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cored arc-welding wire importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Egypt ($X), with a combined X% share of total imports. Saudi Arabia, Qatar, Kuwait and Oman lagged somewhat behind, together accounting for a further X%.

Qatar, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2023, the import price in MENA amounted to $X per ton, dropping by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Egypt ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform