GCC: Office Metal Staple Market 2024

Office Metal Staple Market Size in GCC

The GCC office metal staple market reduced modestly to $X in 2022, dropping by -4.8% against the previous year. Over the period under review, consumption, however, recorded a strong increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Office Metal Staple Production in GCC

In value terms, office metal staple production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a strong expansion. The growth pace was the most rapid in 2014 with an increase of 87%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Office Metal Staple Exports

Exports in GCC

After two years of growth, shipments abroad of base metal staples in strips for use in offices decreased by -23.5% to X tons in 2022. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 2,212%. The volume of export peaked at X tons in 2021, and then shrank sharply in the following year.

In value terms, office metal staple exports contracted remarkably to $X in 2022. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 2,172%. The level of export peaked at $X in 2021, and then fell sharply in the following year.

Exports by Country

Oman prevails in exports structure, finishing at X tons, which was approx. 97% of total exports in 2022. The United Arab Emirates (X tons) followed a long way behind the leaders.

Oman was also the fastest-growing in terms of the base metal staples in strips for use in offices exports, with a CAGR of +21.1% from 2012 to 2022. The United Arab Emirates (-13.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Oman increased by +97 percentage points.

In value terms, Oman ($X) remains the largest office metal staple supplier in GCC, comprising 97% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 3.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Oman amounted to +29.2%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, dropping by -5.7% against the previous year. Export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, office metal staple export price increased by +13.0% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 50%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably 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 Oman amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+6.8%).

Office Metal Staple Imports

Imports in GCC

In 2022, after four years of growth, there was significant decline in purchases abroad of base metal staples in strips for use in offices, when their volume decreased by -10.3% to X tons. Overall, imports saw a mild slump. The most prominent rate of growth was recorded in 2018 with an increase of 33% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, office metal staple imports fell to $X in 2022. Over the period under review, imports showed a slight contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 40%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the largest importer of base metal staples in strips for use in offices, committing 68% of total imports. Kuwait (X tons) ranks second in terms of the total imports with a 19% share, followed by Oman (6.6%). Bahrain (X tons) and Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to office metal staple imports into the United Arab Emirates stood at -1.7%. At the same time, Bahrain (+11.4%), Kuwait (+7.9%), Qatar (+6.3%) and Oman (+5.5%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +11.4% from 2012-2022. Kuwait (+12 p.p.), Oman (+3.4 p.p.), Bahrain (+2.8 p.p.), Qatar (+1.7 p.p.) and the United Arab Emirates (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported base metal staples in strips for use in offices in GCC, comprising 70% of total imports. The second position in the ranking was held by Kuwait ($X), with a 14% share of total imports. It was followed by Oman, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates was relatively modest. In the other countries, the average annual rates were as follows: Kuwait (+3.0% per year) and Oman (+4.2% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, waning by -1.8% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 34% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Kuwait ($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 (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform