Saudi Arabia - Iron or Steel Wire Products - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Iron or Steel Wire Product in Saudi Arabia - 2022
Contents:
- Price for Iron or Steel Wire Product in Saudi Arabia (FOB) - 2022
- Price for Iron or Steel Wire Product in Saudi Arabia (CIF) - 2022
- Exports of Iron or Steel Wire Product in Saudi Arabia
- Imports of Iron or Steel Wire Product in Saudi Arabia
Price for Iron or Steel Wire Product in Saudi Arabia (FOB) - 2022
In 2021, the average export price for iron or steel wire products amounted to $2,289 per ton, surging by 56% against the previous year. Overall, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 China ($2,769 per ton), while the average price for exports to Oman ($686 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+9.3%), while the prices for the other major destinations experienced a decline.
Price for Iron or Steel Wire Product in Saudi Arabia (CIF) - 2022
In 2021, the average import price for iron or steel wire products amounted to $2,114 per ton, with an increase of 22% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 65% against the previous year. As a result, import price attained the peak level of $2,974 per ton. From 2019 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, amid the top importers, the country with the highest price was Turkey ($4,978 per ton), while the price for South Korea ($1,300 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+30.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron or Steel Wire Product in Saudi Arabia
In 2022, approx. 743 tons of iron or steel wire products were exported from Saudi Arabia; with an increase of 17% compared with 2021 figures. The total export volume increased at an average annual rate of +3.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 21% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, iron or steel wire product exports surged to $2.1M in 2022. Overall, exports posted a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 88% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Iron or Steel Wire Product in Saudi Arabia (Thousand USD) | ||||
|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 |
| China | N/A | N/A | 3,517 | 0% |
| Kuwait | 851 | 499 | 737 | -6.9% |
| United Arab Emirates | N/A | 365 | 634 | 73.7% |
| Bahrain | 19.2 | 41.6 | 145 | 174.8% |
| Turkey | N/A | N/A | 67.9 | 0% |
| Oman | 235 | 217 | 51.1 | -53.4% |
| Jordan | 927 | N/A | 22.7 | -84.4% |
| Others | -691.5 | -351.4 | -3,723.9 | 132.1% |
| Total | 1,341 | 771 | 1,450 | 4.0% |
Top Export Markets for Iron or Steel Wire Product from Saudi Arabia in 2022:
- China (1270.0 tons)
- Kuwait (619.1 tons)
- United Arab Emirates (334.8 tons)
- Bahrain (100.3 tons)
- Oman (74.5 tons)
- Turkey (42.7 tons)
- Jordan (20.5 tons)
Imports of Iron or Steel Wire Product in Saudi Arabia
After two years of growth, overseas purchases of iron or steel wire products decreased by -7.1% to 27K tons in 2021. Over the period under review, imports, however, recorded a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 93% against the previous year. As a result, imports reached the peak of 29K tons, and then shrank in the following year.
In value terms, iron or steel wire product imports totaled $56M in 2021. The total import value increased at an average annual rate of +19.8% from 2019 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 26%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.
| Import of Iron or Steel Wire Product in Saudi Arabia (Million USD) | ||||
|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 |
| China | 16.0 | 29.3 | 29.4 | 35.6% |
| India | 2.4 | 3.0 | 4.3 | 33.9% |
| United Arab Emirates | 1.2 | 1.7 | 3.1 | 60.7% |
| United Kingdom | 1.1 | 0.7 | 2.1 | 38.2% |
| Turkey | 1.1 | 1.4 | 1.4 | 12.8% |
| Italy | 1.9 | 2.0 | 1.4 | -14.2% |
| Bahrain | N/A | N/A | 1.3 | 0% |
| Germany | 1.2 | 0.6 | 1.3 | 4.1% |
| South Korea | 0.5 | 0.8 | 1.2 | 54.9% |
| Czech Republic | 0.9 | 2.2 | 0.5 | -25.5% |
| Others | 13.1 | 8.0 | 10.4 | -10.9% |
| Total | 39.3 | 49.7 | 56.4 | 19.8% |
Top Suppliers of Iron or Steel Wire Product to Saudi Arabia in 2022:
- China (16.9K tons)
- India (1.9K tons)
- United Kingdom (1.6K tons)
- United Arab Emirates (1.3K tons)
- South Korea (0.9K tons)
- Bahrain (0.8K tons)
- Germany (0.8K tons)
- Italy (0.5K tons)
- Turkey (0.3K tons)
- Czech Republic (0.3K tons)
This report provides an in-depth analysis of the market for iron or steel wire product 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 25992925 - Finished products of iron/steel wire, snares, traps, etc., fodder ties, animal nose rings, mattress hooks, butchers
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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