Middle East: Iron Household Articles Market 2024

Iron Household Articles Market Size in the Middle East

The Middle Eastern iron household articles market expanded slightly to $X in 2023, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market failed to regain momentum.

Iron Household Articles Production in the Middle East

In value terms, iron household articles production expanded notably to $X in 2023 estimated in export price. In general, production posted a resilient expansion. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Iron Household Articles Exports

Exports in the Middle East

In 2023, after two years of growth, there was decline in shipments abroad of table, kitchen or household articles and parts of iron, when their volume decreased by X% to X tons. Total exports indicated a buoyant expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2015 indices. The growth pace was the most rapid in 2013 with an increase of X%. The volume of export peaked at X tons in 2022, and then reduced slightly in the following year.

In value terms, iron household articles exports fell to $X in 2023. Total exports indicated buoyant growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2022, and then fell in the following year.

Exports by Country

Turkey was the largest exporter of table, kitchen or household articles and parts of iron in the Middle East, with the volume of exports finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X tons), constituting a X% share of total exports. Iran (X tons) held a relatively small share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Iran (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest iron household articles supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Turkey totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Iran (X% per year).

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the export price figures.

Iron Household Articles Imports

Imports in the Middle East

After three years of decline, purchases abroad of table, kitchen or household articles and parts of iron increased by X% to X tons in 2023. Over the period under review, imports, however, recorded a perceptible curtailment. The pace of growth was the most pronounced in 2013 when imports increased by X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, iron household articles imports expanded slightly to $X in 2023. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by X%. As a result, imports attained the peak of $X. From 2020 to 2023, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons) and Iraq (X tons) represented roughly X% of total imports in 2023. Israel (X tons) held the next position in the ranking, followed by Saudi Arabia (X tons) and Kuwait (X tons). All these countries together held approx. X% share of total imports. The following importers - Lebanon (X tons), Turkey (X tons), Qatar (X tons), Oman (X tons), Jordan (X tons), Yemen (X tons) and Bahrain (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Qatar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Iraq ($X) and Israel ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Saudi Arabia, Kuwait, Turkey, Jordan, Qatar, Oman, Lebanon, Yemen and Bahrain lagged somewhat behind, together accounting for a further X%.

Qatar, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, declining by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Turkey ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Source: IndexBox Platform