Middle East: Market for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) 2024

Market Size for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in the Middle East

In 2022, the Middle Eastern market for tubes, pipes and hollow profiles (of iron or steel) increased by X% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption, however, saw a pronounced decline. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in the Middle East

In value terms, production of tubes, pipes and hollow profiles (of iron or steel) shrank notably to $X in 2022 estimated in export price. Overall, production, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Exports in the Middle East

In 2022, overseas shipments of tubes, pipes and hollow profiles (of iron or steel) increased by X% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of tubes, pipes and hollow profiles (of iron or steel) surged to $X in 2022. Total exports indicated a moderate 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. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey was the largest exporting country with an export of about X tons, which accounted for X% of total exports. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Saudi Arabia (X tons). All these countries together took approx. X% share of total exports. The following exporters - Kuwait (X tons) and Oman (X tons) - each recorded an X% share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Oman experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Oman (X p.p.), Turkey (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics.

In value terms, the largest iron or steel pipe and tube supplying countries in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined X% share of total exports. Oman and Kuwait lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Kuwait, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, picking up by X% against 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 an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Kuwait ($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 Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Imports in the Middle East

In 2022, after two years of decline, there was significant growth in purchases abroad of tubes, pipes and hollow profiles (of iron or steel), when their volume increased by X% to X tons. Overall, imports, however, saw a noticeable descent. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of tubes, pipes and hollow profiles (of iron or steel) soared to $X in 2022. In general, imports, however, saw a slight descent. Over the period under review, imports of attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Kuwait was the major importer of tubes, pipes and hollow profiles (of iron or steel) in the Middle East, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), Iraq (X tons), Turkey (X tons) and Oman (X tons), together generating a X% share of total imports. The following importers - Israel (X tons), Qatar (X tons) and Bahrain (X tons) - together made up X% of total imports.

Kuwait was also the fastest-growing in terms of the tubes, pipes and hollow profiles (of iron or steel) imports, with a CAGR of X% from 2012 to 2022. At the same time, Israel (X%) and Turkey (X%) displayed positive paces of growth. By contrast, Oman (X%), Bahrain (X%), the United Arab Emirates (X%), Iraq (X%) and Qatar (X%) illustrated a downward trend over the same period. While the share of Kuwait (X p.p.), Turkey (X p.p.) and Israel (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (X p.p.), the United Arab Emirates (X p.p.) and Iraq (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In terms of the main importing countries, Kuwait, 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, rising by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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