Middle East: Iron Angle Market 2024

Iron Angle Market Size in the Middle East

The Middle Eastern iron angle market soared to $X in 2022, picking up by X% against the previous year. Overall, consumption enjoyed a noticeable increase. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Iron Angle Production in the Middle East

In value terms, iron angle production expanded to $X in 2022 estimated in export price. In general, production, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Iron Angle Exports

Exports in the Middle East

After six years of growth, shipments abroad of angles, shapes and sections (of iron or non-alloy steel) decreased by X% to X tons in 2022. Total exports indicated tangible 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. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021, and then reduced notably in the following year.

In value terms, iron angle exports totaled $X in 2022. Overall, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Turkey was the largest exporting country with an export of around X tons, which recorded X% of total exports. It was distantly followed by the United Arab Emirates (X tons) and Bahrain (X tons), together achieving a X% share of total exports. The following exporters - Oman (X tons) and Iran (X tons) - together made up X% of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of angles, shapes and sections (of iron or non-alloy steel). At the same time, Bahrain (X%), Oman (X%), the United Arab Emirates (X%) and Iran (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Bahrain, the United Arab Emirates and Oman increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest iron angle supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an X% share of total exports. It was followed by Bahrain, with an X% share.

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

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, rising by X% against the previous year. Export price indicated a mild 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, iron angle export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the export price increased by X%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Iron Angle Imports

Imports in the Middle East

Iron angle imports fell slightly to X tons in 2022, declining by X% on 2021. Over the period under review, imports recorded a deep setback. The pace of growth was the most pronounced in 2015 when imports increased by X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, iron angle imports soared to $X in 2022. Overall, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons) and Turkey (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Israel (X tons), Kuwait (X tons) and Iraq (X tons), together making up a X% share of total imports. Oman (X tons), Qatar (X tons) and Jordan (X tons) took a relatively small share of total imports.

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

In value terms, the United Arab Emirates ($X), Turkey ($X) and Kuwait ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Kuwait, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, increasing by X% against the previous year. Import price indicated a notable 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, iron angle import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

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

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

Source: IndexBox Platform

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