Middle East: Market for Iron or Steel Hot-Worked Helical Springs 2024

Market Size for Iron or Steel Hot-Worked Helical Springs in the Middle East

The Middle Eastern metal hot-worked helical spring market rose notably to $X in 2023, surging by X% against the previous year. Overall, consumption enjoyed resilient growth. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Production of Iron or Steel Hot-Worked Helical Springs in the Middle East

In value terms, metal hot-worked helical spring production expanded notably to $X in 2023 estimated in export price. Over the period under review, production showed strong growth. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports in the Middle East

In 2023, overseas shipments of iron or steel hot-worked helical springs decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports saw a pronounced descent. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

In value terms, metal hot-worked helical spring exports shrank modestly to $X in 2023. Overall, exports recorded a pronounced slump. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Turkey prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2023. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to metal hot-worked helical spring exports from Turkey stood at X%. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. Turkey (X p.p.) significantly weakened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest metal hot-worked helical spring supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

In Turkey, metal hot-worked helical spring exports decreased by an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, approximately mirroring the previous year. Export price indicated a temperate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, metal hot-worked helical spring export price decreased by X% against 2021 indices. The growth pace was the most rapid in 2020 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021; however, from 2022 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Imports of Iron or Steel Hot-Worked Helical Springs

Imports in the Middle East

In 2023, approx. X tons of iron or steel hot-worked helical springs were imported in the Middle East; increasing by X% against the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal hot-worked helical spring imports skyrocketed to $X in 2023. Total imports indicated a strong expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey prevails in imports structure, accounting for X tons, which was approx. X% of total imports in 2023. Saudi Arabia (X tons) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%). The following importers - Iraq (X tons) and Israel (X tons) - each reached a X% share of total imports.

Turkey was also the fastest-growing in terms of the iron or steel hot-worked helical springs imports, with a CAGR of X% from 2012 to 2023. At the same time, Israel (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%), Iraq (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. Turkey (X p.p.) significantly strengthened its position in terms of the total imports, while Iraq, the United Arab Emirates and Saudi Arabia saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported iron or steel hot-worked helical springs in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Turkey totaled X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, declining by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then declined slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, 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 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform