Saudi Arabia: Base Metal Hinge Market 2024

Base Metal Hinge Market Size in Saudi Arabia

The Saudi base metal hinge market shrank remarkably to $X in 2022, falling by X% against the previous year. Overall, consumption continues to indicate a deep contraction. Base metal hinge consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Base Metal Hinge Production in Saudi Arabia

In value terms, base metal hinge production reached $X in 2022 estimated in export price. Overall, the total production indicated a perceptible 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, production increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Base Metal Hinge Exports

Exports from Saudi Arabia

In 2021, after two years of decline, there was significant decline in overseas shipments of base metal hinges, when their volume decreased by X% to X tons. Overall, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked at X tons in 2020, and then shrank notably in the following year.

In value terms, base metal hinge exports rose slightly to $X in 2021. In general, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Yemen (X tons), the United Arab Emirates (X tons) and Bahrain (X tons) were the main destinations of base metal hinge exports from Saudi Arabia, together comprising X% of total exports. Sudan, Kuwait, Oman and Democratic Republic of the Congo lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for base metal hinge exported from Saudi Arabia were Yemen ($X), the United Arab Emirates ($X) and Sudan ($X), with a combined X% share of total exports.

Among the main countries of destination, Yemen, with a CAGR of X%, recorded the highest growth rate of 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

The average base metal hinge export price stood at $X per ton in 2021, with an increase of X% against the previous year. Over the period under review, the export price recorded a tangible increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Yemen ($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 Yemen (X%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Hinge Imports

Imports into Saudi Arabia

In 2021, after two years of growth, there was decline in supplies from abroad of base metal hinges, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of X%. Imports peaked at X tons in 2020, and then contracted in the following year.

In value terms, base metal hinge imports expanded to $X in 2021. The total import value increased at an average annual rate of X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest base metal hinge supplier to Saudi Arabia, with a X% share of total imports. Moreover, base metal hinge imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was taken by Italy (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Italy (X% per year).

In value terms, China ($X), Italy ($X) and India ($X) appeared to be the largest base metal hinge suppliers to Saudi Arabia, with a combined X% share of total imports. Taiwan (Chinese) and Japan lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average base metal hinge import price stood at $X per ton in 2021, surging by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :