Middle East: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2024

Market Size for Tube Or Pipe Fittings (Of Iron Or Steel) in the Middle East

In 2022, after four years of growth, there was significant decline in the Middle Eastern market for tube or pipe fittings (of iron or steel), when its value decreased by X% to $X. The total consumption indicated a temperate 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 increased by X% against 2017 indices. As a result, consumption attained the peak level of $X, and then fell in the following year.

Production of Tube Or Pipe Fittings (Of Iron Or Steel) in the Middle East

In value terms, iron or steel tube fitting production fell dramatically to $X in 2022 estimated in export price. In general, production, however, saw a resilient expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Exports of Tube Or Pipe Fittings (Of Iron Or Steel)

Exports in the Middle East

In 2022, overseas shipments of tube or pipe fittings (of iron or steel) increased by X% to X tons, rising for the second year in a row after three years of decline. Total exports indicated a slight expansion 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 2020 indices. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, iron or steel tube fitting exports soared to $X in 2022. Total exports indicated a remarkable 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, exports increased by X% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates represented the main exporting country with an export of about X tons, which amounted to X% of total exports. Turkey (X tons) held the second position in the ranking, distantly followed by Israel (X tons) and Saudi Arabia (X tons). All these countries together took near X% share of total exports. Oman (X tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Israel ($X) and Turkey ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

The United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, remaining constant against the previous year. Export price indicated tangible growth 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, iron or steel tube fitting export price increased by X% against 2017 indices. The growth pace was the most rapid in 2019 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

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

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

Imports of Tube Or Pipe Fittings (Of Iron Or Steel)

Imports in the Middle East

In 2022, supplies from abroad of tube or pipe fittings (of iron or steel) was finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Over the period under review, imports, however, saw a perceptible decline. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel tube fitting imports stood at $X in 2022. Overall, imports, however, continue to indicate a noticeable descent. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) represented the key importers of tube or pipe fittings (of iron or steel) in 2022, accounting for approx. X% and X% of total imports, respectively. Turkey (X tons) ranks next in terms of the total imports with a X% share, followed by Oman (X%), Qatar (X%), Iraq (X%) and Iran (X%).

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

In value terms, the largest iron or steel tube fitting importing markets in the Middle East were Saudi Arabia ($X), the United Arab Emirates ($X) and Turkey ($X), with a combined X% share of total imports.

Among the main importing countries, Turkey, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, approximately equating the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X%. The level of import peaked at $X per ton in 2021, and then declined slightly 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 Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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