MENA: Stranded Wire Market 2024

Stranded Wire Market Size in MENA

In 2022, the MENA's stranded wire market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption saw tangible growth. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Stranded Wire Production in MENA

In value terms, stranded wire production rose slightly to $X in 2022 estimated in export price. Over the period under review, production posted a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Stranded Wire Exports

Exports in MENA

Stranded wire exports rose markedly to X tons in 2022, growing by X% against 2021 figures. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, stranded wire exports expanded notably to $X in 2022. Total exports indicated a measured increase 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, Turkey (X tons) represented the key exporter of stranded wire, ropes and cables, creating X% of total exports. It was distantly followed by Bahrain (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons), together making up a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to stranded wire exports from Turkey stood at X%. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) and Bahrain (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) and Bahrain (X p.p.) displayed negative dynamics.

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

In Turkey, stranded wire exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked in 2022 and is likely to continue 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 Turkey ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Stranded Wire Imports

Imports in MENA

In 2022, purchases abroad of stranded wire, ropes and cables was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, recorded a noticeable curtailment. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, stranded wire imports expanded significantly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons), distantly followed by Turkey (X tons), Saudi Arabia (X tons), Iraq (X tons), Morocco (X tons), Israel (X tons), Egypt (X tons), Kuwait (X tons) and Iran (X tons) were the major importers of stranded wire, ropes and cables, together constituting X% of total imports.

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

In value terms, the largest stranded wire importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Israel ($X), together comprising X% of total imports.

Israel, with a CAGR of X%, saw the highest growth rate of 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

The import price in MENA stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 an increase of X%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

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

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

Source: IndexBox Platform

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