Middle East: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in the Middle East

In 2022, the Middle Eastern metal self-locking nut market decreased by X% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Metal Self-Locking Nut Production in the Middle East

In value terms, metal self-locking nut production expanded sharply to $X in 2022 estimated in export price. Overall, production, however, posted strong growth. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Metal Self-Locking Nut Exports

Exports in the Middle East

In 2022, approx. X tons of iron or steel nuts (including self-locking nuts) were exported in the Middle East; with an increase of X% on 2021 figures. In general, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, metal self-locking nut exports skyrocketed to $X in 2022. Overall, exports recorded resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, Turkey (X tons) was the main exporter of iron or steel nuts (including self-locking nuts), generating X% of total exports. It was distantly followed by the United Arab Emirates (X tons), making up an X% share of total exports. Israel (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to metal self-locking nut 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. From 2012 to 2022, the share of Turkey and Israel increased by X and X percentage points, respectively.

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

In Turkey, metal self-locking nut 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

The export price in the Middle East stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per ton), while Turkey ($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 mixed trends in the export price figures.

Metal Self-Locking Nut Imports

Imports in the Middle East

In 2022, overseas purchases of iron or steel nuts (including self-locking nuts) increased by X% to X tons for the first time since 2017, thus ending a four-year declining trend. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, metal self-locking nut imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The countries with the highest levels of metal self-locking nut imports in 2022 were Iran (X tons), the United Arab Emirates (X tons) and Turkey (X tons), together accounting for X% of total import. It was distantly followed by Iraq (X tons) and Israel (X tons), together mixing up a X% share of total imports. The following importers - Qatar (X tons) and Kuwait (X tons) - each reached a X% share of total imports.

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

In value terms, Turkey ($X) constitutes the largest market for imported iron or steel nuts (including self-locking nuts) in the Middle East, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Israel, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Israel (X% per year).

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. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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