GCC: Metal Chain Market 2025

Metal Chain Market Size in GCC

The GCC metal chain market rose rapidly to $X in 2022, growing by 10% against the previous year. Over the period under review, consumption saw a buoyant expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Metal Chain Production in GCC

In value terms, metal chain production totaled $X in 2022 estimated in export price. In general, production saw a resilient increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 90% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Metal Chain Exports

Exports in GCC

In 2022, the amount of iron or steel chain exported in GCC totaled X tons, surging by 3.6% on 2021 figures. Overall, exports, however, continue to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2017 when exports increased by 537% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, metal chain exports soared to $X in 2022. In general, exports showed a moderate increase. The pace of growth was the most pronounced in 2017 with an increase of 441% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the key exporting country with an export of about X tons, which reached 78% of total exports. It was distantly followed by Saudi Arabia (X tons), creating a 20% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to metal chain exports from the United Arab Emirates stood at -4.9%. At the same time, Saudi Arabia (+3.9%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +3.9% from 2012-2022. Saudi Arabia (+11 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -12.5% from 2012 to 2022, respectively.

In value terms, the largest metal chain supplying countries in GCC were the United Arab Emirates ($X) and Saudi Arabia ($X).

Saudi Arabia, with a CAGR of +16.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, jumping by 19% against the previous year. Over the period under review, the export price enjoyed resilient growth. The most prominent rate of growth was recorded in 2019 an increase of 79% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+12.0%).

Metal Chain Imports

Imports in GCC

In 2022, the amount of iron or steel chain imported in GCC reduced to X tons, dropping by -5.2% compared with the previous year's figure. In general, imports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2019 when imports increased by 34%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, metal chain imports declined significantly to $X in 2022. Over the period under review, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 45%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) represented the major importer of iron or steel chain, comprising 63% of total imports. Oman (X tons) ranks second in terms of the total imports with a 17% share, followed by Qatar (10%), Kuwait (5%) and Bahrain (4.6%).

From 2012 to 2022, average annual rates of growth with regard to metal chain imports into the United Arab Emirates stood at -4.9%. At the same time, Oman (+4.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +4.1% from 2012-2022. By contrast, Qatar (-1.7%), Kuwait (-12.5%) and Bahrain (-15.6%) illustrated a downward trend over the same period. The United Arab Emirates (+38 p.p.), Oman (+15 p.p.) and Qatar (+7.6 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 ($X) constitutes the largest market for imported iron or steel chain in GCC, comprising 70% of total imports. The second position in the ranking was held by Oman ($X), with a 12% share of total imports. It was followed by Kuwait, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+0.7% per year) and Kuwait (-4.4% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, waning by -13.6% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal chain import price increased by +13.5% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 64%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices remained at a somewhat lower figure.

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 Kuwait (+9.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform