GCC: Market for Forged Bars Of Stainless Steel 2025

Market Size for Forged Bars Of Stainless Steel in GCC

After three years of decline, the GCC forged stainless steel bar market increased by X% to $X in 2022. Over the period under review, consumption, however, saw a mild decline. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Forged Bars Of Stainless Steel in GCC

In value terms, forged stainless steel bar production reduced modestly to $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The growth pace was the most rapid in 2015 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Forged Bars Of Stainless Steel

Exports in GCC

After four years of growth, shipments abroad of forged bars of stainless steel decreased by X% to X tons in 2022. Overall, exports recorded a dramatic setback. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, forged stainless steel bar exports fell sharply to $X in 2022. Over the period under review, exports continue to indicate a dramatic decline. 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 peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

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

Exports from the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. While the share of Oman (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at X%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price saw a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Imports of Forged Bars Of Stainless Steel

Imports in GCC

In 2022, purchases abroad of forged bars of stainless steel decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports faced a sharp descent. The pace of growth appeared the most rapid in 2019 when imports increased by X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, forged stainless steel bar imports fell remarkably to $X in 2022. Overall, imports continue to indicate a sharp decline. The pace of growth appeared the most rapid in 2019 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the major importing country with an import of around X tons, which accounted for X% of total imports. Qatar (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (X%) and Oman (X%).

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of forged bars of stainless steel. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Oman (X%) and Qatar (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Qatar (X p.p.), Kuwait (X p.p.) and Oman (X 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 ($X) constitutes the largest market for imported forged bars of stainless steel in GCC, comprising X% of total imports. The second position in the ranking was taken by Qatar ($X), with an X% share of total imports. It was followed by Kuwait, with a X% share.

In the United Arab Emirates, forged stainless steel bar imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price posted a prominent increase. The most prominent rate of growth was recorded in 2015 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Qatar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform