Report Update Apr 1, 2024

Saudi Arabia - Flat-Rolled Products of Iron or Steel (Not Further Worked Than Hot-Rolled) - Market Analysis, Forecast, Size, Trends and Insights

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Saudi Arabia: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Saudi Arabia

The Saudi hot-rolled steel products market fell sharply to $X in 2022, reducing by X% against the previous year. Overall, the total consumption indicated a tangible 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, consumption decreased by X% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Hot-Rolled Steel Products Production in Saudi Arabia

In value terms, hot-rolled steel products production rose slightly to $X in 2022 estimated in export price. Over the period under review, production showed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Hot-rolled steel products production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports from Saudi Arabia

In 2022, overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled) decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, hot-rolled steel products exports reduced dramatically to $X in 2022. Overall, exports, however, showed a perceptible expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then dropped sharply in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for hot-rolled steel products exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, hot-rolled steel products exports to the United Arab Emirates exceeded the volume sent to the second major destination, Jordan (X tons), eightfold. Maldives (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (X% per year) and Maldives (X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for flat-rolled products of iron or steel (not further worked than hot-rolled) exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by Jordan ($X), with a X% share of total exports. It was followed by Pakistan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (X% per year) and Pakistan (X% per year).

Export Prices by Country

The average hot-rolled steel products export price stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the export price, however, posted notable growth. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Maldives ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Saudi Arabia

In 2021, after two years of growth, there was significant decline in supplies from abroad of flat-rolled products of iron or steel (not further worked than hot-rolled), when their volume decreased by X% to X tons. Overall, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020, and then shrank dramatically in the following year.

In value terms, hot-rolled steel products imports dropped to $X in 2021. Over the period under review, imports continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest hot-rolled steel products supplier to Saudi Arabia, with a X% share of total imports. Moreover, hot-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than hot-rolled) to Saudi Arabia, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2021, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The average hot-rolled steel products import price stood at $X per ton in 2021, jumping by X% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the United Arab Emirates ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Japan ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for flat-rolled products of iron or steel (not further worked than hot-rolled) in the world?

China constituted the country with the largest volume of hot-rolled steel products consumption, comprising approx. 53% of total volume. Moreover, hot-rolled steel products consumption in China exceeded the figures recorded by the second-largest consumer, India, sevenfold. The United States ranked third in terms of total consumption with a 6.3% share.

What are the largest producers of flat-rolled products of iron or steel (not further worked than hot-rolled) in the world?

The country with the largest volume of hot-rolled steel products production was China, accounting for 53% of total volume. Moreover, hot-rolled steel products production in China exceeded the figures recorded by the second-largest producer, India, sevenfold. South Korea ranked third in terms of total production with a 6.3% share.

What are the leading suppliers of flat-rolled products of iron or steel (not further worked than hot-rolled) to Saudi Arabia?

In value terms, China constituted the largest supplier of flat-rolled products of iron or steel not further worked than hot-rolled) to Saudi Arabia, comprising 56% of total imports. The second position in the ranking was held by India, with a 12% share of total imports. It was followed by Taiwan Chinese), with a 7% share.

What are the leading importers of flat-rolled products of iron or steel (not further worked than hot-rolled) from Saudi Arabia?

In value terms, the United Arab Emirates remains the key foreign market for flat-rolled products of iron or steel not further worked than hot-rolled) exports from Saudi Arabia, comprising 68% of total exports. The second position in the ranking was held by Jordan, with a 10% share of total exports. It was followed by Pakistan, with a 4.6% share.

What is the average export price for flat-rolled products of iron or steel (not further worked than hot-rolled) in Saudi Arabia?

In 2022, the average hot-rolled steel products export price amounted to $875 per ton, shrinking by -18% against the previous year.

What is the average import price for flat-rolled products of iron or steel (not further worked than hot-rolled) in Saudi Arabia?

In 2021, the average hot-rolled steel products import price amounted to $887 per ton, jumping by 56% against the previous year.

This report provides an in-depth analysis of the hot-rolled steel products market in Saudi Arabia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24103110 - Flat-rolled products of iron or non-alloy steel, of a width . .600 mm, simply hot-rolled, not clad, plated or coated, in coils
Prodcom 24103130 - Flat-rolled products of iron or non-alloy steel, of a width . .600 mm, not in coils, simply hot-rolled, not clad, plated or coated, w ith patterns in relief directly due to the rolling process and products of a thickness < 4,75 mm, without patterns in relief
Prodcom 24103150 - Flat-rolled products, of iron or non-alloy steel, of a width . .600 mm (excluding
Prodcom 24103210 - Flat-rolled products of iron or non-alloy steel, simply hot-rolled on four faces or in a closed box pass, not clad, plated or coated, of a width of > .150 mm but < .600 mm and a thickness of . 4 mm, not in coils, without patterns in relief, commonly
Prodcom 24103230 - Flat-rolled products of iron or non-alloy steel, of a width < .600 mm, simply hot-rolled, not clad, plated or coated (excluding
Prodcom 24103330 - Plates and sheets produced by cutting from hot-rolled wide strip of a width of .600 mm or more, of stainless steel
Prodcom 24103340 - Plates and sheets produced on a reversing mill (quarto) of a width of .600 mm or more and wide flats, of stainless steel
Prodcom 241033Z0 - Hot-rolled flat products in coil of a width . .600 mm, of stainless steel
Prodcom 241034Z0 - Hot-rolled flat products in coil of a width < .600 mm, of stainless steel
Prodcom 24103510 - Flat-rolled products, of tool steel or alloy steel other than stainless steel, of a width . .600 mm, not further worked than hot-rolled, in coils (excluding products of high-speed or siliconelectrical steel)
Prodcom 24103520 - Flat-rolled products of high-speed steel, of a width . .600 mm, h ot-rolled or cold-rolled
Prodcom 24103530 - Flat-rolled products, of tool steel or alloy steel other than stainless steel, of a width . .600 mm, not further worked than hot-rolled, not in coils (excluding organic coated products, p roducts of a thickness < 4,75 mm and products of high-
Prodcom 24103540 - Flat-rolled products of alloy steel other than stainless, of a width . .600 mm, not further worked than hot-rolled, not in coils, of a thickness of < 4,75 mm (excluding products of tool steel, high-speed steel or silicon-electrical steel)
Prodcom 24103600 - Flat-rolled products of alloy steel other than stainless, of a width of < .600 mm, not further worked than hot-rolled (excluding products of high-speed steel or silicon-electrical steel)

Country coverage:

Saudi Arabia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Saudi Arabia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023