Saudi Arabia: Market for Base Metal Flexible Tubing, Iron Or Steel 2024

Market Size for Base Metal Flexible Tubing, Iron Or Steel in Saudi Arabia

In 2022, the Saudi base metal flexible tubing market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, continues to indicate a drastic downturn. Base metal flexible tubing consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Exports of Base Metal Flexible Tubing, Iron Or Steel

Exports from Saudi Arabia

In 2021, shipments abroad of base metal flexible tubing, iron or steel increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, recorded a deep setback. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, base metal flexible tubing exports skyrocketed to $X in 2021. Overall, exports, however, faced a precipitous contraction. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Kuwait (X tons) was the main destination for base metal flexible tubing exports from Saudi Arabia, with a X% share of total exports. Moreover, base metal flexible tubing exports to Kuwait exceeded the volume sent to the second major destination, Sudan (X kg), more than tenfold. The third position in this ranking was held by Thailand (X kg), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kuwait stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (X% per year) and Thailand (X% per year).

In value terms, Kuwait ($X) emerged as the key foreign market for base metal flexible tubing, iron or steel exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by Bahrain, with a X% share.

From 2012 to 2021, the average annual growth rate of value to Kuwait amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Bahrain (X% per year).

Export Prices by Country

In 2021, the average base metal flexible tubing export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price showed a abrupt decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Sudan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (X%).

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Imports of Base Metal Flexible Tubing, Iron Or Steel

Imports into Saudi Arabia

In 2022, purchases abroad of base metal flexible tubing, iron or steel 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 deep setback. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, base metal flexible tubing imports surged to $X in 2022. Overall, imports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of base metal flexible tubing to Saudi Arabia, with a X% share of total imports. Moreover, base metal flexible tubing imports from Spain exceeded the figures recorded by the second-largest supplier, the United States (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume from Spain amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Germany (X% per year).

In value terms, the United States ($X), Spain ($X) and Germany ($X) appeared to be the largest base metal flexible tubing suppliers to Saudi Arabia, together comprising X% of total imports.

Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average base metal flexible tubing import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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