Middle East: Concrete Reinforcing Bar Market 2024

Concrete Reinforcing Bar Market Size in the Middle East

The Middle Eastern concrete reinforcing bar market reduced slightly to $X in 2022, leveling off at the previous year. The total consumption indicated noticeable growth from 2012 to 2022: its value 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, consumption increased by X% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Concrete Reinforcing Bar Production in the Middle East

In value terms, concrete reinforcing bar production shrank markedly to $X in 2022 estimated in export price. Overall, production, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Concrete Reinforcing Bar Exports

Exports in the Middle East

In 2022, the amount of concrete reinforcing bars exported in the Middle East dropped dramatically to X tons, with a decrease of X% on the previous year. Overall, exports saw a slight contraction. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell markedly in the following year.

In value terms, concrete reinforcing bar exports shrank to $X in 2022. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

Turkey was the main exporter of concrete reinforcing bars in the Middle East, with the volume of exports recording X tons, which was near X% of total exports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total exports with an X% share, followed by Oman (X%) and Iran (X%).

Exports from Turkey decreased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%), the United Arab Emirates (X%) and Iran (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. While the share of Oman (X p.p.), the United Arab Emirates (X p.p.) and Iran (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (X p.p.) displayed negative dynamics.

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

In Turkey, concrete reinforcing bar exports declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, growing by X% against the previous year. Export price indicated a modest 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, concrete reinforcing bar export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in years to come.

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

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

Concrete Reinforcing Bar Imports

Imports in the Middle East

In 2022, approx. X tons of concrete reinforcing bars were imported in the Middle East; reducing by X% compared with the year before. In general, imports recorded a perceptible descent. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, concrete reinforcing bar imports declined slightly to $X in 2022. Over the period under review, imports recorded a perceptible slump. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Iraq (X tons) was the main importer of concrete reinforcing bars, constituting X% of total imports. Yemen (X tons) ranks second in terms of the total imports with an X% share, followed by Israel (X%), Saudi Arabia (X%), the United Arab Emirates (X%) and Lebanon (X%). The following importers - Turkey (X tons) and Syrian Arab Republic (X tons) - each finished at a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest concrete reinforcing bar importing markets in the Middle East were Iraq ($X), Yemen ($X) and Israel ($X), with a combined X% share of total imports. Saudi Arabia, the United Arab Emirates, Lebanon, Turkey and Syrian Arab Republic lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, standing approx. at the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid 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 the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Iraq ($X per ton) was 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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