MENA: Market for Welded And Cold-Formed Sections Of Steel 2024

Market Size for Welded And Cold-Formed Sections Of Steel in MENA

The MENA's market for welded and cold-formed sections of steel rose markedly to $X in 2022, increasing by X% against the previous year. The total consumption indicated a notable 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, consumption increased by X% against 2018 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Welded And Cold-Formed Sections Of Steel in MENA

In value terms, welded and cold-formed steel sections production shrank to $X in 2022 estimated in export price. Over the period under review, production enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Exports of Welded And Cold-Formed Sections Of Steel

Exports in MENA

In 2022, approx. X tons of welded and cold-formed sections of steel were exported in MENA; growing by X% compared with 2021. Overall, exports enjoyed a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, welded and cold-formed steel sections exports soared to $X in 2022. In general, exports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Oman was the key exporting country with an export of around X tons, which accounted for X% of total exports. It was distantly followed by Bahrain (X tons), the United Arab Emirates (X tons), Saudi Arabia (X tons) and Turkey (X tons), together mixing up a X% share of total exports. The following exporters - Jordan (X tons) and Kuwait (X tons) - each amounted to a X% share of total exports.

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

In value terms, the largest welded and cold-formed steel sections supplying countries in MENA were the United Arab Emirates ($X), Bahrain ($X) and Jordan ($X), together comprising X% of total exports.

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

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the export price saw a mild decline. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then dropped remarkably in the following year.

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 Jordan ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, 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.

Imports of Welded And Cold-Formed Sections Of Steel

Imports in MENA

In 2022, approx. X tons of welded and cold-formed sections of steel were imported in MENA; growing by X% on 2021 figures. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, welded and cold-formed steel sections imports surged to $X in 2022. In general, imports, however, showed a mild downturn. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Saudi Arabia represented the largest importing country with an import of around X tons, which reached X% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a X% share, followed by Iraq (X%). Oman (X tons), Bahrain (X tons) and Kuwait (X tons) followed a long way behind the leaders.

Imports into Saudi Arabia increased at an average annual rate of X% from 2012 to 2022. At the same time, Iraq (X%), the United Arab Emirates (X%) and Oman (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. By contrast, Bahrain (X%) and Kuwait (X%) illustrated a downward trend over the same period. Saudi Arabia (X p.p.), Iraq (X p.p.), the United Arab Emirates (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total imports, while Bahrain saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), Iraq ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Among the main importing countries, Iraq, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, flattening at the previous year. In general, the import price, however, saw a mild setback. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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