MENA: Market for Hot-Rolled Wire Rods in Coils 2024

Market Size for Hot-Rolled Wire Rods in Coils in MENA

The MENA's market for hot-rolled wire rods in coils totaled $X in 2023, with an increase of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Hot-Rolled Wire Rods in Coils in MENA

In value terms, hot-rolled wire rod in coils production expanded modestly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate notable growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2023, production growth remained at a lower figure.

Exports of Hot-Rolled Wire Rods in Coils

Exports in MENA

In 2023, approx. X tons of hot-rolled wire rods in coils were exported in MENA; declining by X% against the previous year's figure. Total exports indicated a noticeable expansion from 2012 to 2023: its volume 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, exports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, hot-rolled wire rod in coils exports dropped rapidly to $X in 2023. In general, exports, however, saw a notable increase. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2022, and then reduced remarkably in the following year.

Exports by Country

In 2023, Turkey (X tons), Egypt (X tons) and the United Arab Emirates (X tons) was the key exporter of hot-rolled wire rods in coils in MENA, comprising X% of total export. Saudi Arabia (X tons) held the next position in the ranking, followed by Iran (X tons). All these countries together took approx. X% share of total exports. Tunisia (X tons) followed a long way behind the leaders.

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

In value terms, Egypt ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of total exports. Saudi Arabia, Iran and Tunisia lagged somewhat behind, together accounting for a further X%.

Tunisia, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, which is down by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then shrank remarkably in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Egypt ($X per ton), while Iran ($X per ton) and Turkey ($X per ton) were 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 mixed trends in the export price figures.

Imports of Hot-Rolled Wire Rods in Coils

Imports in MENA

In 2023, hot-rolled wire rod in coils imports in MENA soared to X tons, jumping by X% against 2022 figures. Overall, imports, however, recorded a perceptible reduction. The volume of import peaked at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, hot-rolled wire rod in coils imports expanded sharply to $X in 2023. Over the period under review, imports, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Israel (X tons) and Turkey (X tons) represented the main importers of hot-rolled wire rods in coils in MENA, together generating X% of total imports. It was distantly followed by Saudi Arabia (X tons), making up a X% share of total imports. The following importers - Iraq (X tons), Egypt (X tons), Jordan (X tons), the United Arab Emirates (X tons), Oman (X tons) and Morocco (X tons) - together made up X% of total imports.

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

In value terms, Israel ($X), Turkey ($X) and Saudi Arabia ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. The United Arab Emirates, Egypt, Iraq, Jordan, Oman and Morocco lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Egypt, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2023, which is down by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2022, and then dropped rapidly 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 the United Arab Emirates ($X per ton), while Morocco ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform