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Qatar - Iron and Steel - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Jun 1, 2025

Qatar - Iron and Steel - Market Analysis, Forecast, Size, Trends And Insights

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Nov 16, 2024

Qatar's Exports of Raw Steel and Pig Iron Plummet to $193M in 2023

Qatar Raw Steel and Pig Iron Exports

In 2023, after two years of growth, there was decline in shipments abroad of raw steel and pig iron, when their volume decreased by -1.7% to 506K tons. In general, exports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2022 with an increase of 431%. As a result, the exports attained the peak of 515K tons, and then fell in the following year.

In value terms, raw steel and pig iron exports declined to $193M (IndexBox estimates) in 2023. Overall, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2022 when exports increased by 436% against the previous year. As a result, the exports reached the peak of $216M, and then contracted in the following year.Qatar Raw Steel and Pig Iron Exports By Country (Million USD)

COUNTRYExport Value of Raw Steel and Pig Iron in Qatar (million USD)
20132014201520162017201820192020202120222023
VietnamN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A64.5
KuwaitN/AN/A8.29.6N/AN/AN/AN/A40.417341.9
AlgeriaN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A19.5
South KoreaN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A19.5
BangladeshN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A19.2
IndiaN/AN/AN/AN/AN/AN/AN/AN/AN/A20.718.2
OmanN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A10.2
Saudi Arabia57.233.038.80.117.9N/AN/AN/AN/AN/AN/A
United Arab EmiratesN/A36.519.15.8N/AN/AN/AN/AN/AN/AN/A
United StatesN/AN/AN/AN/AN/AN/AN/AN/AN/A22.7N/A
Others7.50.14.48.74.7N/AN/AN/AN/AN/AN/A
Total64.769.570.524.122.6N/AN/AN/A40.4216193

Exports by Country

Vietnam (171K tons), Kuwait (104K tons) and Algeria (52K tons) were the main destinations of raw steel and pig iron exports from Qatar, together comprising 65% of total exports. Bangladesh, India, South Korea and Oman lagged somewhat behind, together comprising a further 35%.

From 2013 to 2023, the biggest increases were recorded for India (with a CAGR of +586.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($65M), Kuwait ($42M) and South Korea ($20M) were the largest markets for raw steel and pig iron exported from Qatar worldwide, together accounting for 65% of total exports. Algeria, Bangladesh, India and Oman lagged somewhat behind, together comprising a further 35%.

India, with a CAGR of +429.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Pig iron and spiegeleisen (117K tons) was the largest type of raw steel and pig iron exported from Qatar, with a 86% share of total exports. Moreover, pig iron and spiegeleisen exceeded the volume of the second product type, iron and non-alloy steel in ingots (18K tons), sixfold.

From 2013 to 2016, the average annual growth rate of the volume of pig iron and spiegeleisen exports amounted to -12.9%.

In value terms, pig iron and spiegeleisen ($18M) remains the largest type of raw steel and pig iron exported from Qatar, comprising 76% of total exports. The second position in the ranking was taken by iron and non-alloy steel in ingots ($5.8M), with a 24% share of total exports.

From 2013 to 2016, the average annual growth rate of the value of pig iron and spiegeleisen exports stood at -34.4%.

Export Prices by Country

In 2023, the raw steel and pig iron price stood at $381 per ton (FOB, Qatar), shrinking by -9.2% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 39% against the previous year. Over the period under review, the average export prices hit record highs at $1,003 per ton in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2023, amid the top suppliers, the highest price was recorded for prices to Oman ($405 per ton) and Kuwait ($402 per ton), while the average price for exports to India ($357 per ton) and Bangladesh ($370 per ton) were amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+6.2%), while the prices for the other major destinations experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the iron and steel market in Qatar. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

    Country coverage:

    • Qatar

    Data coverage:

    • Market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Trade (exports and imports) in Qatar
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND THE AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS

    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO

    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and its Prospects

      1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      5. MARKET FORECAST TO 2035

    4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

      Finding New Products to Diversify Your Business

      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCTS
      4. MOST TRADED PRODUCTS
      5. MOST PROFITABLE PRODUCTS FOR EXPORTS

    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES

    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Export

      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS

    7. 7. PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

    8. 8. IMPORTS

      The Largest Import Supplying Countries

      1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
      3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

    9. 9. EXPORTS

      The Largest Destinations for Exports

      1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
      2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
      3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

    11. LIST OF TABLES

      1. Key Findings In 2024
      2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
      4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
      5. Imports, In Physical Terms, By Country, 2012–2024
      6. Imports, In Value Terms, By Country, 2012–2024
      7. Import Prices, By Country, 2012–2024
      8. Exports, In Physical Terms, By Country, 2012–2024
      9. Exports, In Value Terms, By Country, 2012–2024
      10. Export Prices, By Country, 2012–2024

    12. LIST OF FIGURES

      1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
      3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      5. Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      6. Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
      8. Market Volume Forecast to 2035
      9. Market Value Forecast to 2035
      10. Market Size and Growth, By Product
      11. Average Per Capita Consumption, By Product
      12. Exports and Growth, By Product
      13. Export Prices and Growth, By Product
      14. Production Volume and Growth
      15. Exports and Growth
      16. Export Prices and Growth
      17. Market Size and Growth
      18. Per Capita Consumption
      19. Imports and Growth
      20. Import Prices
      21. Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      22. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      23. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      24. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      25. Imports, In Physical Terms, By Country, 2024
      26. Imports, In Physical Terms, By Country, 2012–2024
      27. Imports, In Value Terms, By Country, 2012–2024
      28. Import Prices, By Country, 2012–2024
      29. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      30. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
      31. Exports, In Physical Terms, By Country, 2024
      32. Exports, In Physical Terms, By Country, 2012–2024
      33. Exports, In Value Terms, By Country, 2012–2024
      34. Export Prices, By Country, 2012–2024

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