GCC: Stainless Steel Angle Market 2024

Stainless Steel Angle Market Size in GCC

In 2021, the GCC stainless steel angle market decreased by -39.2% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption continues to indicate a abrupt setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Stainless Steel Angle Production in GCC

In value terms, stainless steel angle production stood at $X in 2021 estimated in export price. In general, production saw a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 358% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Stainless Steel Angle Exports

Exports in GCC

In 2021, approx. X tons of angles, shapes and sections of stainless steel or other alloy steel were exported in GCC; rising by 93% on the year before. Overall, exports recorded a strong increase. The pace of growth appeared the most rapid in 2020 with an increase of 262%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, stainless steel angle exports declined to $X in 2021. In general, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 411% against the previous year. As a result, the exports reached the peak of $X, and then reduced slightly in the following year.

Exports by Country

Saudi Arabia dominates exports structure, reaching X tons, which was near 88% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), creating a 6.9% share of total exports. Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to stainless steel angle exports from Saudi Arabia stood at +29.9%. At the same time, Bahrain (+38.1%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of +38.1% from 2012-2021. By contrast, the United Arab Emirates (-11.1%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+59 p.p.) and Bahrain (+3.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-62.2 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest stainless steel angle supplier in GCC, comprising 86% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 9.8% share of total exports.

In Saudi Arabia, stainless steel angle exports increased at an average annual rate of +12.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (-9.7% per year) and Bahrain (+25.4% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, with a decrease of -49.4% against the previous year. In general, the export price showed a abrupt curtailment. The pace of growth was the most pronounced in 2016 an increase of 68%. The level of export peaked at $X per ton in 2020, and then dropped sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.6%), while the other leaders experienced a decline in the export price figures.

Stainless Steel Angle Imports

Imports in GCC

In 2021, approx. X tons of angles, shapes and sections of stainless steel or other alloy steel were imported in GCC; waning by -40.1% on the previous year's figure. In general, imports recorded a deep downturn. The growth pace was the most rapid in 2020 when imports increased by 43%. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, stainless steel angle imports declined markedly to $X in 2021. Overall, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of 36%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates represented the major importer of angles, shapes and sections of stainless steel or other alloy steel in GCC, with the volume of imports recording X tons, which was approx. 68% of total imports in 2021. It was distantly followed by Kuwait (X tons), Qatar (X tons) and Oman (X tons), together generating a 31% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to stainless steel angle imports into the United Arab Emirates stood at -17.3%. Oman (-2.2%), Qatar (-6.2%) and Kuwait (-19.3%) illustrated a downward trend over the same period. Qatar (+8.2 p.p.) and Oman (+4 p.p.) significantly strengthened its position in terms of the total imports, while Kuwait saw its share reduced by -3.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported angles, shapes and sections of stainless steel or other alloy steel in GCC, comprising 68% of total imports. The second position in the ranking was held by Qatar ($X), with a 14% share of total imports. It was followed by Kuwait, with an 11% share.

In the United Arab Emirates, stainless steel angle imports decreased by an average annual rate of -14.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (-1.1% per year) and Kuwait (-18.0% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, picking up by 15% against the previous year. Import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the import price increased by 38%. Over the period under review, import prices hit record highs in 2021 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Qatar ($X per ton) and the United Arab Emirates ($X per ton), while Kuwait ($X per ton) and Oman ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform