Middle East: Stranded Wire Market 2024

Stranded Wire Market Size in the Middle East

In 2022, the Middle Eastern stranded wire market was finally on the rise to reach $X after two years of decline. The total consumption indicated a noticeable 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, consumption decreased by X% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Stranded Wire Production in the Middle East

In value terms, stranded wire production expanded sharply to $X in 2022 estimated in export price. Overall, production saw prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Stranded Wire Exports

Exports in the Middle East

In 2022, the amount of stranded wire, ropes and cables exported in the Middle East rose rapidly to X tons, with an increase of X% against the year before. Total exports indicated a modest increase from 2012 to 2022: its volume 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, exports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, stranded wire exports expanded notably to $X in 2022. Total exports indicated a tangible expansion 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

Turkey was the major exporter of stranded wire, ropes and cables in the Middle East, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. Bahrain (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (X%) and Saudi Arabia (X%).

From 2012 to 2022, average annual rates of growth with regard to stranded wire exports from Turkey stood at X%. 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. By contrast, Saudi Arabia (X%) and Bahrain (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and the United Arab Emirates increased by X and X percentage points, respectively.

In value terms, Turkey ($X) remains the largest stranded wire supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Bahrain ($X), with a X% share of total exports. It was followed by the United Arab Emirates, 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: Bahrain (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, approximately mirroring 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. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

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

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

Stranded Wire Imports

Imports in the Middle East

In 2022, purchases abroad of stranded wire, ropes and cables was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a pronounced downturn. The growth pace was the most rapid in 2013 when imports increased by X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, stranded wire imports rose markedly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons), distantly followed by Turkey (X tons), Saudi Arabia (X tons), Iraq (X tons), Israel (X tons), Kuwait (X tons), Iran (X tons) and Oman (X tons) were the key importers of stranded wire, ropes and cables, together generating X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Israel ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports.

In terms of the main importing countries, Israel, with a CAGR of X%, recorded the highest growth rate of 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, remaining stable 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%. The level of import peaked in 2022 and is expected to retain 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 Israel ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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