GCC: Aluminium Alloy Wire Market 2024

Aluminium Alloy Wire Market Size in GCC

The GCC aluminium alloy wire market contracted modestly to $X in 2022, remaining constant against the previous year. Overall, consumption recorded a mild descent. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Aluminium Alloy Wire Production in GCC

In value terms, aluminium alloy wire production contracted modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Aluminium Alloy Wire Exports

Exports in GCC

In 2022, approx. X tons of aluminium alloy wire were exported in GCC; standing approx. at the previous year. Overall, exports recorded a perceptible decline. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, aluminium alloy wire exports reduced slightly to $X in 2022. In general, exports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bahrain prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Oman (X tons), mixing up a X% share of total exports. The United Arab Emirates (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

Exports from Bahrain decreased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Oman increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahrain ($X) remains the largest aluminium alloy wire supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Oman ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Bahrain totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price saw a slight reduction. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton), while Oman ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced a decline in the export price figures.

Aluminium Alloy Wire Imports

Imports in GCC

In 2022, the amount of aluminium alloy wire imported in GCC declined to X tons, dropping by X% compared with 2021. In general, imports showed a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, aluminium alloy wire imports reduced to $X in 2022. Overall, imports showed a noticeable contraction. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons) and Bahrain (X tons) represented roughly X% of total imports in 2022. The United Arab Emirates (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (X%) and Oman (X%).

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Bahrain ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Qatar and Oman lagged somewhat behind, together accounting for a further X%.

Oman, 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

The import price in GCC stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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