Middle East: Market for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) 2024

Market Size for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in the Middle East

The Middle Eastern market for tubes, pipes and hollow profiles (of iron or steel) expanded rapidly to $X in 2023, growing by X% against the previous year. In general, consumption, however, saw a pronounced expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Production of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in the Middle East

In value terms, production of tubes, pipes and hollow profiles (of iron or steel) skyrocketed to $X in 2023 estimated in export price. Overall, production, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Exports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Exports in the Middle East

In 2023, exports of tubes, pipes and hollow profiles (of iron or steel) in the Middle East rose slightly to X tons, picking up by X% compared with the previous year's figure. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, exports of tubes, pipes and hollow profiles (of iron or steel) declined to $X in 2023. Total exports indicated a mild increase 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The level of export peaked at $X in 2022, and then fell in the following year.

Exports by Country

Turkey was the largest exporter of tubes, pipes and hollow profiles (of iron or steel) in the Middle East, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X tons), Saudi Arabia (X tons) and Oman (X tons), together comprising a X% share of total exports. Iran (X tons) took a minor share of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of tubes, pipes and hollow profiles (of iron or steel). At the same time, Iran (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, Oman (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Iran (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia 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, Turkey ($X) remains the largest iron or steel pipe and tube supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Turkey totaled X%. 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

In 2023, the export price in the Middle East amounted to $X per ton, reducing by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Imports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Imports in the Middle East

In 2023, purchases abroad of tubes, pipes and hollow profiles (of iron or steel) increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a deep contraction. Over the period under review, imports of hit record highs at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, imports of tubes, pipes and hollow profiles (of iron or steel) contracted modestly to $X in 2023. In general, imports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. Over the period under review, imports of attained the maximum at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the five major importers of tubes, pipes and hollow profiles (of iron or steel), namely the United Arab Emirates, Iraq, Turkey, Kuwait and Oman, represented more than two-thirds of total import. It was distantly followed by Saudi Arabia (X tons), comprising a X% share of total imports. Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest iron or steel pipe and tube importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Iraq ($X), with a combined X% share of total imports.

Turkey, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then reduced 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 Qatar ($X per ton), while Kuwait ($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