Middle East: Metal Castor Mounting Market 2024

Metal Castor Mounting Market Size in the Middle East

In 2022, the Middle Eastern metal castor mounting market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption saw a buoyant expansion. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Metal Castor Mounting Production in the Middle East

In value terms, metal castor mounting production dropped notably to $X in 2022 estimated in export price. Overall, production continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Metal Castor Mounting Exports

Exports in the Middle East

In 2022, shipments abroad of castors with mountings of base metal increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, exports saw a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, metal castor mounting exports rose markedly to $X in 2022. Over the period under review, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Turkey dominates exports structure, reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), creating a X% share of total exports. Israel (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to metal castor mounting exports from Turkey stood at X%. At the same time, Israel (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. While the share of Turkey (X p.p.) and Israel (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest metal castor mounting supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Israel ($X), with a X% share of total exports.

In Turkey, metal castor mounting exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Israel (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, surging by X% against 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 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced mixed trends in the export price figures.

Metal Castor Mounting Imports

Imports in the Middle East

In 2022, the amount of castors with mountings of base metal imported in the Middle East shrank modestly to X tons, which is down by X% against the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, metal castor mounting imports reduced to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

Saudi Arabia represented the key importing country with an import of around X tons, which accounted for X% of total imports. Turkey (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Iraq (X%), Israel (X%), the United Arab Emirates (X%) and Lebanon (X%). Iran (X tons) took a minor share of total imports.

Imports into Saudi Arabia increased at an average annual rate of X% from 2012 to 2022. At the same time, Iraq (X%) and Israel (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. Lebanon experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (X%), Turkey (X%) and Iran (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia and Iraq increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), Turkey ($X) and Israel ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. The United Arab Emirates, Iraq, Lebanon and Iran lagged somewhat behind, together accounting for a further X%.

Iraq, with a CAGR of X%, recorded 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 2022, the import price in the Middle East amounted to $X per ton, waning by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then reduced modestly in the following year.

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

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

Source: IndexBox Platform