GCC: Market for Base Metal Flexible Tubing, Iron Or Steel 2025

Market Size for Base Metal Flexible Tubing, Iron Or Steel in GCC

In 2021, the GCC base metal flexible tubing market decreased by -1.4% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, recorded a mild downturn. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Base Metal Flexible Tubing, Iron Or Steel in GCC

In value terms, base metal flexible tubing production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 666%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Exports of Base Metal Flexible Tubing, Iron Or Steel

Exports in GCC

In 2021, the amount of base metal flexible tubing, iron or steel exported in GCC surged to X tons, jumping by 57% compared with the year before. In general, exports showed strong growth. The growth pace was the most rapid in 2018 when exports increased by 95%. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, base metal flexible tubing exports shrank modestly to $X in 2021. Overall, exports enjoyed temperate growth. The pace of growth appeared the most rapid in 2018 when exports increased by 201%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X tons, which was near 98% of total exports in 2021. Saudi Arabia (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the base metal flexible tubing, iron or steel exports, with a CAGR of +14.1% from 2012 to 2021. Saudi Arabia (-13.3%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+18 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-14.4 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest base metal flexible tubing supplier in GCC, comprising 96% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 1.6% share of total exports.

In the United Arab Emirates, base metal flexible tubing exports expanded at an average annual rate of +7.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, reducing by -36.3% against the previous year. Over the period under review, the export price saw a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of 54% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-6.0%).

Imports of Base Metal Flexible Tubing, Iron Or Steel

Imports in GCC

Base metal flexible tubing imports soared to X tons in 2021, with an increase of 30% against the year before. In general, imports, however, recorded a perceptible contraction. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, base metal flexible tubing imports totaled $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2019 with an increase of 29% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) represented the key importers of base metal flexible tubing, iron or steel in 2021, resulting at near 38% and 26% of total imports, respectively. Kuwait (X tons) ranks next in terms of the total imports with a 16% share, followed by Qatar (15%). The following importers - Bahrain (X tons) and Oman (X tons) - each recorded a 3.8% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Qatar (with a CAGR of +14.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest base metal flexible tubing importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), with a combined 86% share of total imports.

In terms of the main importing countries, Kuwait, with a CAGR of +11.6%, saw 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 GCC stood at $X per ton in 2021, dropping by -20.6% against the previous year. Over the last nine years, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2014 an increase of 30% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform