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GCC - Hot-Rolled Non-Alloy Steel Wire Rods - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGCC: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024
Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in GCC
The GCC market for hot-rolled non-alloy steel wire rods skyrocketed to $X in 2023, increasing by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.
Production of Hot-Rolled Non-Alloy Steel Wire Rods in GCC
In value terms, hot-rolled non-alloy steel wire rod production rose sharply to $X in 2023 estimated in export price. Over the period under review, production posted strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.
Exports of Hot-Rolled Non-Alloy Steel Wire Rods
Exports in GCC
In 2023, shipments abroad of hot-rolled non-alloy steel wire rods decreased by X% to X tons for the first time since 2017, thus ending a five-year rising trend. Total exports indicated a remarkable increase from 2012 to 2023: its volume 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, exports increased by X% against 2017 indices. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2022, and then shrank modestly in the following year.
In value terms, hot-rolled non-alloy steel wire rod exports dropped to $X in 2023. Overall, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then fell in the following year.
Exports by Country
The United Arab Emirates was the main exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Saudi Arabia (X tons), constituting a X% share of total exports. Oman (X tons) followed a long way behind the leaders.
From 2012 to 2023, average annual rates of growth with regard to hot-rolled non-alloy steel wire rod exports from the United Arab Emirates stood at X%. At the same time, Saudi Arabia (X%) and Oman (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the United Arab Emirates ($X) remains the largest hot-rolled non-alloy steel wire rod supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.
In the United Arab Emirates, hot-rolled non-alloy steel wire rod exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Oman (X% per year).
Export Prices by Country
The export price in GCC stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then dropped in the following year.
Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($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 United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.
Imports of Hot-Rolled Non-Alloy Steel Wire Rods
Imports in GCC
After two years of decline, overseas purchases of hot-rolled non-alloy steel wire rods increased by X% to X tons in 2023. Over the period under review, imports, however, saw a deep downturn. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.
In value terms, hot-rolled non-alloy steel wire rod imports skyrocketed to $X in 2023. In general, imports, however, showed a drastic downturn. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.
Imports by Country
Saudi Arabia was the largest importing country with an import of around X tons, which accounted for X% of total imports. It was distantly followed by Oman (X tons), the United Arab Emirates (X tons), Qatar (X tons) and Kuwait (X tons), together committing a X% share of total imports. Bahrain (X tons) held a minor share of total imports.
Imports into Saudi Arabia decreased at an average annual rate of X% from 2012 to 2023. At the same time, Kuwait (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. By contrast, Oman (X%), Qatar (X%) and Bahrain (X%) illustrated a downward trend over the same period. While the share of Oman (X p.p.), the United Arab Emirates (X p.p.), Kuwait (X p.p.), Qatar (X p.p.) and Bahrain (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Saudi Arabia (X p.p.) displayed negative dynamics.
In value terms, Saudi Arabia ($X) constitutes the largest market for imported hot-rolled non-alloy steel wire rods in GCC, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.
In Saudi Arabia, hot-rolled non-alloy steel wire rod imports contracted by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Oman (X% per year) and the United Arab Emirates (X% per year).
Import Prices by Country
In 2023, the import price in GCC amounted to $X per ton, declining by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2022, and then fell in the following year.
Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Kuwait ($X per ton) and Bahrain ($X per ton), while Qatar ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for hot-rolled non-alloy steel wire rod in GCC. 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 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
- Prodcom 24106120 - Wire rod of free-cutting steel
- Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
- Prodcom 24106140 - Wire rod for tyre cord
- Prodcom 24106190 - Other wire rod (of non-alloy steel)
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in GCC, split by region and country
- Trade (exports and imports) in GCC
- 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
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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
- CONSUMPTION BY COUNTRY
- 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
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- 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 -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Bahrain
- Kuwait
- Oman
- Qatar
- Saudi Arabia
- United Arab Emirates
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 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
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 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, 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, 2012–2023
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