MENA: Market for Hot-Rolled Bars Of High Speed Steel 2024

Market Size for Hot-Rolled Bars Of High Speed Steel in MENA

In 2023, the MENA's market for hot-rolled bars of high speed steel decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption, however, showed a abrupt setback. As a result, consumption attained the peak level of $X. From 2019 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Hot-Rolled Bars Of High Speed Steel in MENA

In value terms, hot-rolled high speed steel bar production contracted rapidly to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2023, production growth remained at a somewhat lower figure.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports in MENA

In 2023, the amount of hot-rolled bars of high speed steel exported in MENA surged to X tons, with an increase of X% compared with 2022. Over the period under review, exports, however, recorded a pronounced setback. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, hot-rolled high speed steel bar exports skyrocketed to $X in 2023. In general, exports showed a tangible increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates represented the main exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by Turkey (X tons), comprising a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to hot-rolled high speed steel bar exports from the United Arab Emirates stood at X%. At the same time, Turkey (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Turkey increased by X percentage points.

In value terms, Turkey ($X) emerged as the largest hot-rolled high speed steel bar supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

In Turkey, hot-rolled high speed steel bar exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, jumping by X% against the previous year. In general, the export price posted prominent growth. The pace of growth was the most pronounced in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Imports of Hot-Rolled Bars Of High Speed Steel

Imports in MENA

Hot-rolled high speed steel bar imports soared to X tons in 2023, with an increase of X% on the previous year. Over the period under review, imports, however, continue to indicate a deep setback. The pace of growth was the most pronounced in 2014 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, hot-rolled high speed steel bar imports surged to $X in 2023. Overall, imports, however, continue to indicate a slight downturn. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

Turkey was the key importing country with an import of around X tons, which accounted for X% of total imports. It was distantly followed by Qatar (X tons), achieving a X% share of total imports. The following importers - Oman (X tons), Morocco (X tons), Israel (X tons), Lebanon (X tons), Kuwait (X tons) and Algeria (X tons) - together made up X% of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Lebanon (X%), Algeria (X%), Kuwait (X%) and Oman (X%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. Morocco experienced a relatively flat trend pattern. By contrast, Qatar (X%) and Israel (X%) illustrated a downward trend over the same period. Turkey (X p.p.), Qatar (X p.p.), Oman (X p.p.), Morocco (X p.p.), Lebanon (X p.p.), Kuwait (X p.p.) and Algeria (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, Turkey ($X) constitutes the largest market for imported hot-rolled bars of high speed steel in MENA, comprising X% of total imports. The second position in the ranking was held by Israel ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Israel (X% per year) and Qatar (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2023, which is down by X% against the previous year. In general, the import price, however, saw prominent growth. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Turkey ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform