GCC: 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 GCC

In 2022, the GCC market for tubes, pipes and hollow profiles (of iron or steel) was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in GCC

In value terms, production of tubes, pipes and hollow profiles (of iron or steel) rose modestly to $X in 2022 estimated in export price. In general, production posted a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, production of attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

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

Exports in GCC

In 2022, approx. X tons of tubes, pipes and hollow profiles (of iron or steel) were exported in GCC; growing by X% compared with the year before. Total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, exports of tubes, pipes and hollow profiles (of iron or steel) soared to $X in 2022. Overall, exports recorded a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates represented the key exporting country with an export of about X tons, which accounted for X% of total exports. Saudi Arabia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Kuwait (X%) and Oman (X%).

From 2012 to 2022, average annual rates of growth with regard to iron or steel pipe and tube exports from the United Arab Emirates stood at X%. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. Oman experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while Oman and Saudi Arabia saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest iron or steel pipe and tube supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

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

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Kuwait ($X per ton) was 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 more modest paces of growth.

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

Imports in GCC

In 2022, supplies from abroad of tubes, pipes and hollow profiles (of iron or steel) was finally on the rise to reach X tons after two years of decline. Overall, imports, however, saw a slight curtailment. Over the period under review, imports of reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, imports of tubes, pipes and hollow profiles (of iron or steel) soared to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. Over the period under review, imports of hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Kuwait was the key importing country with an import of around X tons, which resulted at X% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Oman (X tons). All these countries together held near X% share of total imports. Qatar (X tons) and Bahrain (X tons) held a relatively small share of total imports.

Kuwait was also the fastest-growing in terms of the tubes, pipes and hollow profiles (of iron or steel) imports, with a CAGR of X% from 2012 to 2022. Oman (X%), Bahrain (X%), the United Arab Emirates (X%) and Qatar (X%) illustrated a downward trend over the same period. Kuwait (X p.p.) significantly strengthened its position in terms of the total imports, while Oman, Qatar and the United Arab Emirates saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

Kuwait, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2014; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 2022, 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

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