Middle East: Way-Type Unit Head Market 2024

Way-Type Unit Head Market Size in the Middle East

The Middle Eastern way-type unit head market reduced dramatically to $X in 2021, with a decrease of -23.6% against the previous year. In general, consumption, however, continues to indicate a significant expansion. Over the period under review, the market attained the peak level at $X in 2020, and then contracted remarkably in the following year.

Way-Type Unit Head Production in the Middle East

In value terms, way-type unit head production plummeted to $X in 2021 estimated in export price. Overall, production, however, posted a significant expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by 165% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced sharply in the following year.

Way-Type Unit Head Exports

Exports in the Middle East

In 2021, approx. X tons of way-type unit heads for working metal were exported in the Middle East; increasing by 191% against the previous year's figure. In general, exports posted a buoyant increase. The growth pace was the most rapid in 2017 when exports increased by 193% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, way-type unit head exports skyrocketed to $X in 2021. Over the period under review, exports saw a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 253% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the immediate term.

Exports by Country

Kuwait (X tons) and Turkey (X tons) were the largest exporters of way-type unit heads for working metal in 2021, amounting to near 37% and 33% of total exports, respectively. It was distantly followed by Oman (X tons) and Saudi Arabia (X tons), together making up a 26% share of total exports. The following exporters - the United Arab Emirates (X tons) and Israel (X tons) - each accounted for a 4% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Kuwait (with a CAGR of +97.0%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) remains the largest way-type unit head supplier in the Middle East, comprising 46% of total exports. The second position in the ranking was held by Kuwait ($X), with a 22% share of total exports. It was followed by Oman, with a 22% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia stood at +77.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Kuwait (+97.1% per year) and Oman (+28.0% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, waning by -33.8% against the previous year. In general, the export price, however, showed measured growth. The growth pace was the most rapid in 2018 when the export price increased by 162% against the previous year. The level of export peaked at $X per ton in 2020, and then reduced remarkably in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+28.0%), while the other leaders experienced more modest paces of growth.

Way-Type Unit Head Imports

Imports in the Middle East

In 2021, the amount of way-type unit heads for working metal imported in the Middle East skyrocketed to X tons, picking up by 166% on 2020. Overall, imports, however, recorded a abrupt decline. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, way-type unit head imports expanded modestly to $X in 2021. In general, imports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2013 when imports increased by 128% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Iran represented the key importing country with an import of around X tons, which recorded 71% of total imports. Turkey (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (9.7%). The United Arab Emirates (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to way-type unit head imports into Iran stood at -4.3%. At the same time, Qatar (+31.8%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +31.8% from 2012-2021. By contrast, the United Arab Emirates (-12.3%) and Turkey (-17.0%) illustrated a downward trend over the same period. Iran (+15 p.p.) and Qatar (+9.7 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates and Turkey saw its share reduced by -2.6% and -19% from 2012 to 2021, respectively.

In value terms, Qatar ($X) constitutes the largest market for imported way-type unit heads for working metal in the Middle East, comprising 41% of total imports. The second position in the ranking was taken by Iran ($X), with a 19% share of total imports. It was followed by the United Arab Emirates, with a 15% share.

In Qatar, way-type unit head imports increased at an average annual rate of +35.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Iran (-22.9% per year) and the United Arab Emirates (-6.9% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, falling by -60.9% against the previous year. In general, the import price showed a abrupt downturn. The most prominent rate of growth was recorded in 2013 an increase of 200%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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