United Arab Emirates: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in the United Arab Emirates

In 2023, the forged stainless steel bar market in the United Arab Emirates increased by X% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2023 and is likely to see steady growth in the immediate term.

Production of Forged Bars Of Stainless Steel in the United Arab Emirates

In value terms, forged stainless steel bar production expanded notably to $X in 2023 estimated in export price. Overall, production, however, showed a drastic downturn. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Forged stainless steel bar production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

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Exports of Forged Bars Of Stainless Steel

Exports from the United Arab Emirates

In 2023, the amount of forged bars of stainless steel exported from the United Arab Emirates skyrocketed to X tons, increasing by X% compared with 2022. In general, exports, however, recorded a precipitous contraction. The growth pace was the most rapid in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, forged stainless steel bar exports surged to $X in 2023. Over the period under review, exports, however, saw a drastic downturn. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Zambia (X tons) was the main destination for forged stainless steel bar exports from the United Arab Emirates, accounting for a X% share of total exports. Moreover, forged stainless steel bar exports to Zambia exceeded the volume sent to the second major destination, Canada (X tons), fourfold.

From 2012 to 2023, the average annual growth rate of volume to Zambia stood at X%.

In value terms, Zambia ($X) and Canada ($X) constituted the largest markets for forged stainless steel bar exported from the United Arab Emirates worldwide.

Zambia, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average forged stainless steel bar export price stood at $X per ton in 2023, increasing by X% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, forged stainless steel bar export price increased by X% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Zambia stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Forged Bars Of Stainless Steel

Imports into the United Arab Emirates

In 2023, after two years of decline, there was significant growth in overseas purchases of forged bars of stainless steel, when their volume increased by X% to X tons. Over the period under review, imports enjoyed a prominent increase. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, forged stainless steel bar imports reached $X in 2023. In general, imports posted a moderate expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X tons) constituted the largest forged stainless steel bar supplier to the United Arab Emirates, with a X% share of total imports. Moreover, forged stainless steel bar imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), tenfold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, 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: the UK (X% per year) and Germany (X% per year).

In value terms, China ($X) constituted the largest supplier of forged bars of stainless steel to the United Arab Emirates, comprising X% of total imports. The second position in the ranking was held by the UK ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Germany (X% per year).

Import Prices by Country

In 2023, the average forged stainless steel bar import price amounted to $X per ton, which is down by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform