Middle East: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in the Middle East

The Middle Eastern non-alloy steel u-section market dropped to $X in 2022, which is down by X% against the previous year. In general, consumption showed a pronounced shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Non-Alloy Steel U-Section Production in the Middle East

In value terms, non-alloy steel u-section production fell slightly to $X in 2022 estimated in export price. Overall, production recorded a pronounced descent. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Non-Alloy Steel U-Section Exports

Exports in the Middle East

In 2022, shipments abroad of u-sections of non-alloy steel increased by X% to X tons, rising for the fifth consecutive year after three years of decline. Overall, exports recorded a strong increase. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, non-alloy steel u-section exports surged to $X in 2022. Over the period under review, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

Turkey dominates exports structure, recording X tons, which was approx. X% of total exports in 2022. The United Arab Emirates (X tons) held the second position in the ranking, followed by Iran (X tons). All these countries together took approx. X% share of total exports. The following exporters - Oman (X tons) and Palestine (X tons) - together made up X% of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%), Iran (X%), Palestine (X%) and the United Arab Emirates (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 Iran (X p.p.), Oman (X p.p.) and Palestine (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) and Turkey (X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest non-alloy steel u-section supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an X% share of total exports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Oman (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 tangible 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 export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

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 the United Arab Emirates ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Non-Alloy Steel U-Section Imports

Imports in the Middle East

In 2022, approx. X tons of u-sections of non-alloy steel were imported in the Middle East; waning by X% on the year before. In general, imports saw a noticeable reduction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, non-alloy steel u-section imports soared to $X in 2022. Over the period under review, imports recorded a slight decline. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, finishing at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Israel (X tons) and Kuwait (X tons), together mixing up a X% share of total imports. Iraq (X tons), Turkey (X tons), Qatar (X tons), Oman (X tons), Iran (X tons) and Jordan (X tons) held a relatively small share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%), Jordan (X%) and Israel (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Qatar (X%), Oman (X%), Iraq (X%), Turkey (X%) and Iran (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Kuwait and Israel 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, the United Arab Emirates ($X) constitutes the largest market for imported u-sections of non-alloy steel in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Israel ($X), with an X% share of total imports. It was followed by Kuwait, with an 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: Israel (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, with an increase of X% against the previous year. Import price indicated a noticeable 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 import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

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 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 Kuwait (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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