GCC: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in GCC

The GCC non-alloy steel u-section market totaled $X in 2022, flattening at the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; afterwards, it flattened through to 2022.

Non-Alloy Steel U-Section Production in GCC

In value terms, non-alloy steel u-section production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, recorded mild growth. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Non-Alloy Steel U-Section Exports

Exports in GCC

In 2022, the amount of u-sections of non-alloy steel exported in GCC declined to X tons, dropping by X% compared with 2021 figures. In general, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, non-alloy steel u-section exports skyrocketed to $X in 2022. Over the period under review, exports, however, enjoyed resilient growth. The growth pace was the most rapid in 2017 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, the United Arab Emirates (X tons) and Oman (X tons) represented the key exporter of u-sections of non-alloy steel in GCC, comprising X% of total export.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of X%).

In value terms, the United Arab Emirates ($X) and Oman ($X) appeared to be the countries with the highest levels of exports in 2022.

Oman, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

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. Export price indicated a tangible increase from 2012 to 2022: its price 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, non-alloy steel u-section export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Non-Alloy Steel U-Section Imports

Imports in GCC

In 2022, purchases abroad of u-sections of non-alloy steel was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Overall, imports, however, recorded a perceptible shrinkage. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, non-alloy steel u-section imports soared to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates dominates imports structure, finishing at X tons, which was near X% of total imports in 2022. It was distantly followed by Kuwait (X tons), committing a X% share of total imports. Qatar (X tons) and Oman (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to non-alloy steel u-section imports into 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 importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Qatar (X%) and Oman (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Kuwait increased by 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 ($X) constitutes the largest market for imported u-sections of non-alloy steel in GCC, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with an X% share of total imports. It was followed by Oman, with a X% share.

In the United Arab Emirates, non-alloy steel u-section imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price 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, non-alloy steel u-section import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the import price increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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