Middle East: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in the Middle East

The Middle Eastern non-alloy steel u-section market was estimated at $X in 2023, with an increase of X% against the previous year. Overall, consumption, however, showed a pronounced curtailment. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Non-Alloy Steel U-Section Production in the Middle East

In value terms, non-alloy steel u-section production expanded significantly to $X in 2023 estimated in export price. The total production indicated a perceptible expansion 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 most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Non-Alloy Steel U-Section Exports

Exports in the Middle East

In 2023, shipments abroad of u-sections of non-alloy steel decreased by X% to X tons, falling for the second year in a row after four years of growth. Overall, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, non-alloy steel u-section exports contracted to $X in 2023. In general, exports, however, posted prominent growth. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2022, and then contracted in the following year.

Exports by Country

Turkey was the key exporter of u-sections of non-alloy steel in the Middle East, with the volume of exports finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by Iran (X tons), generating a X% share of total exports. The United Arab Emirates (X tons) and Palestine (X tons) took a relatively small share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Palestine (X%) and Iran (X%) displayed positive paces of growth. Moreover, Palestine emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. The United Arab Emirates experienced a relatively flat trend pattern. While the share of Iran (X p.p.) and Palestine (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the United Arab Emirates (X p.p.) and Turkey (X p.p.) displayed negative dynamics.

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

In Turkey, non-alloy steel u-section 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: Iran (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2022, and then declined in the following year.

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

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

Non-Alloy Steel U-Section Imports

Imports in the Middle East

In 2023, overseas purchases of u-sections of non-alloy steel increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a abrupt descent. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, non-alloy steel u-section imports expanded sharply to $X in 2023. In general, imports, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, the United Arab Emirates (X tons) was the key importer of u-sections of non-alloy steel, making up X% of total imports. Iraq (X tons) took the second position in the ranking, distantly followed by Israel (X tons), Saudi Arabia (X tons) and Turkey (X tons). All these countries together held near X% share of total imports. The following importers - Qatar (X tons), Kuwait (X tons) and Jordan (X tons) - each recorded an X% share of total imports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of u-sections of non-alloy steel. At the same time, Kuwait (X%) and Israel (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. Iraq experienced a relatively flat trend pattern. By contrast, Qatar (X%), Turkey (X%), Jordan (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the United Arab Emirates, Iraq, Israel and Kuwait increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported u-sections of non-alloy steel in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Iraq ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

In the United Arab Emirates, non-alloy steel u-section imports remained relatively stable over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Iraq (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, which is down by X% against the previous year. Import price indicated a temperate increase from 2012 to 2023: its price 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, non-alloy steel u-section import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then shrank in the following year.

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

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

Source: IndexBox Platform