Middle East: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2024

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in the Middle East

The Middle Eastern market for ribbed or other deformed wire rod of non-alloy steel expanded modestly to $X in 2023, surging by X% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2023: its value 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, consumption increased by X% against 2016 indices. Over the period under review, the market hit record highs in 2023 and is expected to retain growth in the near future.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in the Middle East

In value terms, deformed non-alloy steel wire rod production expanded slightly to $X in 2023 estimated in export price. The total production indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2021; afterwards, it flattened through to 2023.

Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports in the Middle East

In 2023, exports of ribbed or other deformed wire rod of non-alloy steel in the Middle East declined to X tons, falling by X% on 2022 figures. Overall, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, deformed non-alloy steel wire rod exports contracted markedly to $X in 2023. Over the period under review, exports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then contracted significantly in the following year.

Exports by Country

In 2023, Turkey (X tons) represented the major exporter of ribbed or other deformed wire rod of non-alloy steel, making up X% of total exports. It was distantly followed by the United Arab Emirates (X tons) and Saudi Arabia (X tons), together achieving a X% share of total exports. Jordan (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to deformed non-alloy steel wire rod exports from Turkey stood at X%. At the same time, Jordan (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. Saudi Arabia (X p.p.), Turkey (X p.p.) and Jordan (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Turkey ($X) remains the largest deformed non-alloy steel wire rod supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

In Turkey, deformed non-alloy steel wire rod exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, waning by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then declined remarkably in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Jordan ($X per ton), while Turkey ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

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

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports in the Middle East

Deformed non-alloy steel wire rod imports skyrocketed to X tons in 2023, jumping by X% compared with the year before. Over the period under review, imports enjoyed a pronounced expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, deformed non-alloy steel wire rod imports soared to $X in 2023. Overall, imports enjoyed a moderate increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked in 2023 and is likely to see steady growth in the near future.

Imports by Country

Israel prevails in imports structure, recording X tons, which was near X% of total imports in 2023. It was distantly followed by Iraq (X tons), creating a X% share of total imports. Kuwait (X tons) followed a long way behind the leaders.

Imports into Israel increased at an average annual rate of X% from 2012 to 2023. At the same time, Kuwait (X%) and Iraq (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. Israel (X p.p.), Iraq (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported ribbed or other deformed wire rod of non-alloy steel in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Iraq ($X), with a X% share of total imports.

In Israel, deformed non-alloy steel wire rod imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Iraq (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then dropped markedly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Kuwait ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform