United Arab Emirates: Market for Hot-Rolled Bars Of High Speed Steel 2022

Market Size for Hot-Rolled Bars Of High Speed Steel in the United Arab Emirates

In 2021, the market for hot-rolled bars of high speed steel in the United Arab Emirates increased by X% to $X, rising for the second year in a row after four years of decline. In general, consumption, however, showed a drastic downturn. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Production of Hot-Rolled Bars Of High Speed Steel in the United Arab Emirates

In value terms, hot-rolled high speed steel bar production amounted to $X in 2021 estimated in export price. Over the period under review, the total production indicated resilient growth from 2012 to 2021: its value 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. Based on 2021 figures, production decreased by -X% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports from the United Arab Emirates

In 2021, overseas shipments of hot-rolled bars of high speed steel decreased by -X% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports faced a abrupt setback. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled high speed steel bar exports totaled $X in 2021. Over the period under review, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Oman (X tons) was the main destination for hot-rolled high speed steel bar exports from the United Arab Emirates, accounting for a approx. X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Oman amounted to +X%.

From 2012 to 2021, the average annual growth rate of value to Oman totaled +X%.

Export Prices by Country

The average export price for hot-rolled bars of high speed steel stood at $X per ton in 2021, rising by X% against the previous year. Overall, export price indicated a strong 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. Based on 2021 figures, hot-rolled high speed steel bar export price decreased by -X% against 2018 indices. The growth pace was the most rapid in 2015 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Oman.

From 2012 to 2021, the rate of growth in terms of prices for Oman amounted to +X% per year.

Imports of Hot-Rolled Bars Of High Speed Steel

Imports into the United Arab Emirates

In 2021, purchases abroad of hot-rolled bars of high speed steel increased by X% to X tons, rising for the second year in a row after six years of decline. Overall, imports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled high speed steel bar imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a abrupt slump. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X tons), India (X tons) and China (X tons) were the main suppliers of hot-rolled high speed steel bar imports to the United Arab Emirates, together comprising X% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Italy ($X) and Canada ($X) were the largest hot-rolled high speed steel bar suppliers to the United Arab Emirates, with a combined X% share of total imports.

The United States, 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 mixed trend patterns.

Import Prices by Country

In 2021, the average import price for hot-rolled bars of high speed steel amounted to $X per ton, growing by X% against the previous year. Over the period under review, import price indicated a slight expansion 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. Based on 2021 figures, hot-rolled high speed steel bar import price decreased by -X% against 2019 indices. The pace of growth was the most pronounced in 2019 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Italy ($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 States (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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