GCC: Market for Iron or Steel Cans 2025

Market Size for Iron or Steel Cans in GCC

The GCC iron or steel can market fell slightly to $X in 2021, approximately equating the previous year. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.1% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Iron or Steel Cans in GCC

In value terms, iron or steel can production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 39% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Iron or Steel Cans

Exports in GCC

In 2021, approx. X units of iron or steel cans were exported in GCC; declining by -3.6% on the previous year's figure. Overall, exports recorded a drastic downturn. The growth pace was the most rapid in 2020 when exports increased by 14% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron or steel can exports rose markedly to $X in 2021. Over the period under review, exports saw a pronounced slump. The pace of growth was the most pronounced in 2016 when exports increased by 9.7% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia was the main exporting country with an export of about X units, which recorded 70% of total exports. It was distantly followed by the United Arab Emirates (X units), mixing up a 29% share of total exports.

Exports from Saudi Arabia decreased at an average annual rate of -6.9% from 2012 to 2021. The United Arab Emirates (-4.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates increased by +5.9 percentage points.

In value terms, Saudi Arabia ($X) remains the largest iron or steel can supplier in GCC, comprising 67% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 32% share of total exports.

In Saudi Arabia, iron or steel can exports contracted by an average annual rate of -2.3% over the period from 2012-2021.

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, increasing by 9.3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2017 when the export price increased by 21%. As a result, the export price attained the peak level of $X per unit. From 2018 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 unit), while Saudi Arabia totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.9%).

Imports of Iron or Steel Cans

Imports in GCC

In 2021, overseas purchases of iron or steel cans increased by 7.3% to X units, rising for the second consecutive year after two years of decline. Overall, imports, however, saw a abrupt decline. The growth pace was the most rapid in 2017 when imports increased by 27%. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, iron or steel can imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 35%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the major importing country with an import of about X units, which reached 44% of total imports. Oman (X units) ranks second in terms of the total imports with a 24% share, followed by Kuwait (17%) and Bahrain (14%).

From 2012 to 2021, the biggest increases were recorded for Kuwait (with a CAGR of +17.6%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported iron or steel cans in GCC, comprising 33% of total imports. The second position in the ranking was held by Oman ($X), with a 14% share of total imports. It was followed by Kuwait, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to -5.0%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+0.0% per year) and Kuwait (+28.5% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, picking up by 8.5% against the previous year. Import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iron or steel can import price decreased by -10.1% against 2019 indices. The growth pace was the most rapid in 2014 when the import price increased by 35% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform