Middle East: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2024

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in the Middle East

In 2022, the Middle Eastern market for ribbed or other deformed wire rod of non-alloy steel increased by X% to $X, rising for the eighth year in a row after two years of decline. In general, consumption posted a pronounced expansion. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in the Middle East

In value terms, deformed non-alloy steel wire rod production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a tangible increase. The growth pace was the most rapid in 2018 when the production volume increased by X%. The level of production peaked at $X in 2019; afterwards, it flattened through to 2022.

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Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports in the Middle East

Deformed non-alloy steel wire rod exports fell sharply to X tons in 2022, waning by X% compared with 2021 figures. Over the period under review, exports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, deformed non-alloy steel wire rod exports declined to $X in 2022. Overall, exports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Turkey represented the major exporting country with an export of around X tons, which finished at X% of total exports. It was distantly followed by Saudi Arabia (X tons), comprising a X% share of total exports. Jordan (X tons) took a minor share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Jordan (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Turkey (X p.p.), Saudi Arabia (X p.p.) and Jordan (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest deformed non-alloy steel wire rod supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

In Turkey, deformed non-alloy steel wire rod 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: Saudi Arabia (X% per year) and Jordan (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, jumping by X% against the previous year. Export price indicated a mild increase 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, deformed non-alloy steel wire rod export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while Turkey ($X per ton) was amongst the lowest.

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

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports in the Middle East

After five years of growth, supplies from abroad of ribbed or other deformed wire rod of non-alloy steel decreased by X% to X tons in 2022. Over the period under review, imports, however, saw a modest expansion. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, deformed non-alloy steel wire rod imports expanded remarkably to $X in 2022. In general, imports, however, recorded perceptible growth. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Israel was the main importing country with an import of around X tons, which resulted at X% of total imports. Yemen (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (X%) and Iraq (X%). Bahrain (X tons) took a relatively small share of total imports.

Imports into Israel increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%), Iraq (X%), Bahrain (X%) and Yemen (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. While the share of Israel (X p.p.), Yemen (X p.p.), Kuwait (X p.p.), Iraq (X p.p.) and Bahrain (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported ribbed or other deformed wire rod of non-alloy steel in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports. It was followed by Yemen, with a X% share.

In Israel, deformed non-alloy steel wire rod imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Yemen (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices reached the maximum in 2022 and is likely to continue growth in years to come.

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 Israel ($X per ton), while Yemen ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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