Saudi Arabia: Stainless Steel Angle Market 2024

Stainless Steel Angle Market Size in Saudi Arabia

After two years of growth, the Saudi stainless steel angle market decreased by X% to $X in 2023. Over the period under review, consumption, however, showed a strong increase. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the market remained at a lower figure.

Stainless Steel Angle Production in Saudi Arabia

In value terms, stainless steel angle production totaled $X in 2023 estimated in export price. In general, production recorded a strong increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Stainless Steel Angle Exports

Exports from Saudi Arabia

In 2023, overseas shipments of angles, shapes and sections of stainless steel or other alloy steel were finally on the rise to reach X tons after two years of decline. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, the exports attained the peak of X tons. From 2021 to 2023, the growth of the exports failed to regain momentum.

In value terms, stainless steel angle exports surged to $X in 2023. In general, exports, however, recorded a slight setback. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Bahrain (X tons) was the main destination for stainless steel angle exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, stainless steel angle exports to Bahrain exceeded the volume sent to the second major destination, Rwanda (X tons), twofold. Jordan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Bahrain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (X% per year) and Jordan (X% per year).

In value terms, Bahrain ($X), Rwanda ($X) and Sri Lanka ($X) were the largest markets for stainless steel angle exported from Saudi Arabia worldwide, together accounting for X% of total exports.

Among the main countries of destination, Rwanda, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average stainless steel angle export price stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the export price, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Jordan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Rwanda (X%), while the prices for the other major destinations experienced more modest paces of growth.

Stainless Steel Angle Imports

Imports into Saudi Arabia

In 2020, approx. X tons of angles, shapes and sections of stainless steel or other alloy steel were imported into Saudi Arabia; falling by X% on the previous year. In general, imports faced a deep contraction. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2020, imports stood at a somewhat lower figure.

In value terms, stainless steel angle imports declined notably to $X in 2020. Over the period under review, imports faced a drastic downturn. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2020, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2020, Turkey (X tons) constituted the largest supplier of stainless steel angle to Saudi Arabia, with a X% share of total imports. Moreover, stainless steel angle imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold.

From 2012 to 2020, the average annual rate of growth in terms of volume from Turkey amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Kuwait (X% per year).

In value terms, Turkey ($X) constituted the largest supplier of angles, shapes and sections of stainless steel or other alloy steel to Saudi Arabia, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with a X% share of total imports.

From 2012 to 2020, the average annual growth rate of value from Turkey totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and China (X% per year).

Import Prices by Country

The average stainless steel angle import price stood at $X per ton in 2020, waning by X% against the previous year. Overall, the import price recorded a perceptible setback. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2019, and then reduced remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Kuwait ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform