United Arab Emirates: Market for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) 2022

Market Size for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in the United Arab Emirates

In 2020, the iron and steel wire market in the United Arab Emirates decreased by -X% to $X, falling for the second year in a row after four years of growth. In general, consumption saw a modest expansion. The growth pace was the most rapid in 2011 when the market value increased by X% year-to-year. Over the period under review, the market reached the maximum level at $X in 2008; however, from 2009 to 2020, consumption stood at a somewhat lower figure.

Exports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Exports from the United Arab Emirates

In 2020, after two years of decline, there was significant growth in overseas shipments of wire of iron or non-alloy steel (stainless steel or other alloy steel), when their volume increased by X% to X tons. Overall, exports showed a resilient expansion. The pace of growth was the most pronounced in 2013 when exports increased by X% year-to-year. Exports peaked at X tons in 2014; however, from 2015 to 2020, exports remained at a lower figure.

In value terms, iron and steel wire exports surged to $X in 2020. In general, exports enjoyed buoyant growth. The growth pace was the most rapid in 2008 when exports increased by X% against the previous year. Over the period under review, exports reached the maximum at $X in 2014; however, from 2015 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons), Oman (X tons) and Australia (X tons) were the main destinations of iron and steel wire exports from the United Arab Emirates, with a combined X% share of total exports. Kuwait, India, the U.S., Sri Lanka and Jordan lagged somewhat behind, together accounting for a further X 2007 to 2020, the biggest increases were in Jordan (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron and steel wire exported from the United Arab Emirates were Saudi Arabia ($X), Oman ($X) and Australia ($X), together comprising X% of total exports. The U.S., Kuwait, India, Sri Lanka and Jordan lagged somewhat behind, together accounting for a further X (+X% per year) recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average iron and steel wire export price stood at $X per ton in 2020, stabilizing at the previous year. Overall, export price indicated a modest expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, iron and steel wire export price decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2008 when the average export price increased by X% against the previous year. Over the period under review, average export prices attained the peak figure at $X per ton in 2011; however, from 2012 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per ton), while the average price for exports to Jordan ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to India, while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Imports into the United Arab Emirates

In 2020, approx. X tons of wire of iron or non-alloy steel (stainless steel or other alloy steel) were imported into the United Arab Emirates; growing by X% on 2019 figures. Over the period under review, total imports indicated a tangible increase from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2008 with an increase of X% y-o-y. Over the period under review, imports hit record highs in 2020 and are expected to retain growth in the immediate term.

In value terms, iron and steel wire imports reduced remarkably to $X in 2020. Overall, total imports indicated a modest increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by -X% against 2018 indices. The pace of growth appeared the most rapid in 2008 with an increase of X% year-to-year. Imports peaked at $X in 2018; however, from 2019 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Saudi Arabia (X tons) constituted the largest iron and steel wire supplier to the United Arab Emirates, accounting for a X% share of total imports. Moreover, iron and steel wire imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was occupied by Oman (X tons), with a X% share.

From 2007 to 2020, the average annual growth rate of volume from Saudi Arabia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and Oman (+X% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of iron and steel wire to the United Arab Emirates, comprising X% of total imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2007 to 2020, the average annual growth rate of value from Saudi Arabia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and Turkey (+X% per year).

Import Prices by Country

The average iron and steel wire import price stood at $X per ton in 2020, falling by -X% against the previous year. In general, the import price showed a noticeable downturn. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% y-o-y. As a result, import price attained the peak level of $X per ton. from 2009 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was India ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by India, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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