GCC: Market for Iron Or Steel Parts Of Articulated Link Chain 2025

Market Size for Iron Or Steel Parts Of Articulated Link Chain in GCC

After two years of decline, the GCC metal link chain parts market increased by 183% to $X in 2021. Overall, consumption, however, showed a abrupt contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Iron Or Steel Parts Of Articulated Link Chain in GCC

In value terms, metal link chain parts production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt downturn. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Iron Or Steel Parts Of Articulated Link Chain

Exports in GCC

In 2021, exports of iron or steel parts of articulated link chain in GCC declined remarkably to X tons, waning by -24.6% compared with 2020 figures. In general, exports saw a abrupt downturn. The growth pace was the most rapid in 2014 with an increase of 114%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, metal link chain parts exports shrank to $X in 2021. Overall, exports saw a pronounced reduction. The most prominent rate of growth was recorded in 2014 when exports increased by 94% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, finishing at X tons, which was approx. 90% of total exports in 2021. It was distantly followed by Saudi Arabia (X tons), achieving a 5.9% share of total exports. Bahrain (X kg) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the iron or steel parts of articulated link chain exports, with a CAGR of +4.3% from 2012 to 2021. Bahrain (-10.9%) and Saudi Arabia (-33.1%) illustrated a downward trend over the same period. The United Arab Emirates (+70 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -66.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest metal link chain parts supplier in GCC, comprising 95% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 2.5% share of total exports.

In the United Arab Emirates, metal link chain parts exports increased at an average annual rate of +6.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (-30.8% per year) and Bahrain (-8.1% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, with an increase of 28% against the previous year. Export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +9.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal link chain parts export price increased by +83.9% against 2018 indices. The pace of growth was the most pronounced in 2019 an increase of 44%. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.4%), while the other leaders experienced more modest paces of growth.

Imports of Iron Or Steel Parts Of Articulated Link Chain

Imports in GCC

In 2021, the amount of iron or steel parts of articulated link chain imported in GCC surged to X tons, rising by 1,211% compared with 2020 figures. Overall, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal link chain parts imports skyrocketed to $X in 2021. In general, imports showed prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 662%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Saudi Arabia dominates imports structure, reaching X tons, which was near 91% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), constituting a 7.2% share of total imports.

Saudi Arabia was also the fastest-growing in terms of the iron or steel parts of articulated link chain imports, with a CAGR of +33.3% from 2012 to 2021. At the same time, the United Arab Emirates (+8.1%) displayed positive paces of growth. While the share of Saudi Arabia (+40 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the United Arab Emirates (-19.4 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported iron or steel parts of articulated link chain in GCC, comprising 63% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 24% share of total imports.

In Saudi Arabia, metal link chain parts imports increased at an average annual rate of +17.2% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, waning by -58.5% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The growth pace was the most rapid in 2018 an increase of 53%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-4.5%).

Source: IndexBox Platform