GCC: Metal Screw Hook Market 2024

Metal Screw Hook Market Size in GCC

The GCC metal screw hook market declined dramatically to $X in 2022, waning by -36.8% against the previous year. The total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then contracted rapidly in the following year.

Metal Screw Hook Production in GCC

In value terms, metal screw hook production shrank to $X in 2022 estimated in export price. In general, production, however, showed a prominent increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 111% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Metal Screw Hook Exports

Exports in GCC

In 2022, overseas shipments of iron or steel screw hooks and screw rings decreased by -11.8% to X tons, falling for the seventh year in a row after four years of growth. Overall, exports recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 29%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, metal screw hook exports surged to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 68%. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the key exporter of iron or steel screw hooks and screw rings in GCC, with the volume of exports finishing at X tons, which was approx. 55% of total exports in 2022. Saudi Arabia (X tons) ranks second in terms of the total exports with a 29% share, followed by Bahrain (15%).

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +50.1%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the United Arab Emirates ($X) remains the largest metal screw hook supplier in GCC, comprising 74% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 14% share of total exports.

In the United Arab Emirates, metal screw hook exports increased at an average annual rate of +10.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (-2.2% per year) and Bahrain (+44.6% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, jumping by 41% against the previous year. Export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +9.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the export price increased by 52%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+15.2%), while the other leaders experienced mixed trends in the export price figures.

Metal Screw Hook Imports

Imports in GCC

In 2022, overseas purchases of iron or steel screw hooks and screw rings decreased by -84.7% to X tons for the first time since 2015, thus ending a six-year rising trend. Over the period under review, imports showed a abrupt decrease. The growth pace was the most rapid in 2016 with an increase of 118%. Over the period under review, imports reached the maximum at X tons in 2021, and then reduced markedly in the following year.

In value terms, metal screw hook imports reduced dramatically to $X in 2022. Overall, imports showed a deep downturn. The growth pace was the most rapid in 2016 with an increase of 249% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then shrank sharply in the following year.

Imports by Country

The purchases of the three major importers of iron or steel screw hooks and screw rings, namely Bahrain, the United Arab Emirates and Oman, represented more than two-thirds of total import. Qatar (X tons) took the next position in the ranking, followed by Kuwait (X tons). All these countries together held approx. 14% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bahrain (with a CAGR of +36.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported iron or steel screw hooks and screw rings in GCC, comprising 67% of total imports. The second position in the ranking was taken by Bahrain ($X), with a 15% share of total imports. It was followed by Qatar, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +9.0%. In the other countries, the average annual rates were as follows: Bahrain (+24.8% per year) and Qatar (-8.3% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, rising by 89% against the previous year. Import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal screw hook import price increased by +97.0% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($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 (+17.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform