Middle East: Wire And Cable Market 2024

Wire And Cable Market Size in the Middle East

The Middle Eastern wire and cable market shrank to $X in 2022, dropping by X% against the previous year. Over the period under review, consumption, however, showed a resilient expansion. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Wire And Cable Production in the Middle East

In value terms, wire and cable production fell remarkably to $X in 2022 estimated in export price. Overall, production, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Wire And Cable Exports

Exports in the Middle East

In 2022, shipments abroad of insulated wire and cable increased by X% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, wire and cable exports surged to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

In 2022, Turkey (X tons) represented the largest exporter of insulated wire and cable, constituting X% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with an X% share, followed by Saudi Arabia (X%) and Oman (X%).

From 2012 to 2022, average annual rates of growth with regard to wire and cable exports from Turkey stood at X%. At the same time, the United Arab Emirates (X%), Saudi Arabia (X%) and Oman (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia 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, Turkey ($X) remains the largest wire and cable supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

In Turkey, wire and cable exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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 ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Wire And Cable Imports

Imports in the Middle East

In 2022, overseas purchases of insulated wire and cable increased by X% to X tons for the first time since 2016, thus ending a five-year declining trend. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, wire and cable imports soared to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) and Kuwait (X tons) were the key importers of insulated wire and cable in the Middle East, together finishing at approx. X% of total imports. Iraq (X tons) took the next position in the ranking, followed by Turkey (X tons) and Israel (X tons). All these countries together took approx. X% share of total imports. The following importers - Bahrain (X tons) and Oman (X tons) - each resulted at a X% share 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, the largest wire and cable importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Kuwait ($X), together comprising X% of total imports.

Among the main importing countries, Kuwait, 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

In 2022, the import price in the Middle East amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Bahrain ($X per ton) was 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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