Middle East: Market for Iron or Steel Hot-Worked Helical Springs 2024

Market Size for Iron or Steel Hot-Worked Helical Springs in the Middle East

The Middle Eastern metal hot-worked helical spring market shrank to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption, however, saw a prominent expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Iron or Steel Hot-Worked Helical Springs in the Middle East

In value terms, metal hot-worked helical spring production dropped sharply to $X in 2022 estimated in export price. In general, production, however, saw a resilient increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports in the Middle East

In 2022, shipments abroad of iron or steel hot-worked helical springs increased by X% to X tons, rising for the second year in a row after four years of decline. In general, exports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal hot-worked helical spring exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a mild reduction. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey dominates exports structure, finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total exports.

Exports from Turkey decreased at an average annual rate of X% from 2012 to 2022. 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 the Middle East, with a CAGR of X% from 2012-2022. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest metal hot-worked helical spring supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Turkey totaled X%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, picking up by X% against the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price 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, metal hot-worked helical spring export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2020 an increase of X%. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Imports of Iron or Steel Hot-Worked Helical Springs

Imports in the Middle East

In 2022, metal hot-worked helical spring imports in the Middle East skyrocketed to X tons, growing by X% on the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by X%. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, metal hot-worked helical spring imports skyrocketed to $X in 2022. Total imports indicated a prominent 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Turkey was the main importer of iron or steel hot-worked helical springs in the Middle East, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Saudi Arabia (X tons) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%). The following importers - Kuwait (X tons), Iraq (X tons), Lebanon (X tons) and Israel (X tons) - together made up X% of total imports.

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

In value terms, Turkey ($X) constitutes the largest market for imported iron or steel hot-worked helical springs in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Saudi Arabia, with an X% share.

In Turkey, metal hot-worked helical spring imports 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: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, flattening at the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2021, and then reduced modestly in the following year.

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 Kuwait ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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