United Arab Emirates: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in the United Arab Emirates

In 2023, after seven years of growth, there was decline in the cold-rolled steel products market in the United Arab Emirates, when its value decreased by X% to $X. In general, the total consumption indicated measured growth 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, consumption increased by X% against 2015 indices. Over the period under review, the market reached the peak level at $X in 2022, and then contracted in the following year.

Cold-Rolled Steel Products Production in the United Arab Emirates

In value terms, cold-rolled steel products production declined to $X in 2023 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2016 indices. The pace of growth was the most pronounced in 2019 with an increase of X%. Cold-rolled steel products production peaked at $X in 2022, and then declined modestly in the following year.

Cold-Rolled Steel Products Exports

Exports from the United Arab Emirates

In 2023, approx. X tons of flat-rolled products of iron or steel (not further worked than cold-rolled) were exported from the United Arab Emirates; with an increase of X% compared with the year before. Overall, exports, however, showed a dramatic decrease. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2023, the growth of the exports remained at a lower figure.

In value terms, cold-rolled steel products exports skyrocketed to $X in 2023. Over the period under review, exports, however, faced a deep setback. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Tanzania (X tons) was the main destination for cold-rolled steel products exports from the United Arab Emirates, with a X% share of total exports. Moreover, cold-rolled steel products exports to Tanzania exceeded the volume sent to the second major destination, Zimbabwe (X tons), fourfold. Zambia (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 Tanzania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zimbabwe (X% per year) and Zambia (X% per year).

In value terms, Zambia ($X), Lithuania ($X) and Zimbabwe ($X) constituted the largest markets for cold-rolled steel products exported from the United Arab Emirates worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, Lithuania, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average cold-rolled steel products export price amounted to $X per ton, falling by X% against the previous year. Overall, the export price, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2022, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Zambia ($X per ton), while the average price for exports to Tanzania ($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 Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports into the United Arab Emirates

In 2023, the amount of flat-rolled products of iron or steel (not further worked than cold-rolled) imported into the United Arab Emirates surged to X tons, picking up by X% on 2022 figures. Overall, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Imports peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, cold-rolled steel products imports rose remarkably to $X in 2023. Over the period under review, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, China (X tons) was the main cold-rolled steel products supplier to the United Arab Emirates, with a X% share of total imports. Moreover, cold-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Belgium (X% per year).

In value terms, China ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than cold-rolled) to the United Arab Emirates, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Belgium (X% per year).

Import Prices by Country

In 2023, the average cold-rolled steel products import price amounted to $X per ton, dropping by X% against the previous year. Overall, the import price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2022 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton, and then shrank notably in the following year.

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

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

Source: IndexBox Platform