MENA: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in MENA

For the fourth consecutive year, the MENA's hot-rolled steel products market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Hot-Rolled Steel Products Production in MENA

In value terms, hot-rolled steel products production rose markedly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Hot-Rolled Steel Products Exports

Exports in MENA

In 2022, exports of flat-rolled products of iron or steel (not further worked than hot-rolled) in MENA shrank dramatically to X tons, falling by X% against 2021. Total exports indicated a remarkable increase from 2012 to 2022: its volume 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. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, hot-rolled steel products exports contracted notably to $X in 2022. In general, exports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then dropped rapidly in the following year.

Exports by Country

In 2022, Turkey (X tons), distantly followed by Iran (X tons), Egypt (X tons) and Saudi Arabia (X tons) were the key exporters of flat-rolled products of iron or steel (not further worked than hot-rolled), together creating X% of total exports. The United Arab Emirates (X tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest hot-rolled steel products supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Egypt ($X), with a X% share of total exports. It was followed by Iran, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled X%. In the other countries, the average annual rates were as follows: Egypt (X% per year) and Iran (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, surging by X% against the previous year. Export price indicated a slight 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, hot-rolled steel products export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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

Hot-Rolled Steel Products Imports

Imports in MENA

In 2022, approx. X tons of flat-rolled products of iron or steel (not further worked than hot-rolled) were imported in MENA; reducing by X% on the previous year's figure. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, hot-rolled steel products imports rose to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Turkey represented the main importing country with an import of around X tons, which resulted at X% of total imports. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Egypt (X%). The following importers - Algeria (X tons), Kuwait (X tons), Oman (X tons), Tunisia (X tons), Iraq (X tons) and Israel (X tons) - together made up X% of total imports.

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

In value terms, Turkey ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than hot-rolled) in MENA, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Egypt, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Egypt (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, picking up by X% against the previous year. Import price indicated notable 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, hot-rolled steel products import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Kuwait ($X per ton) and Israel ($X per ton), while Iraq ($X per ton) and Algeria ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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