GCC: Metal Stud-Link Chain Market 2024

Metal Stud-Link Chain Market Size in GCC

The GCC metal stud-link chain market surged to $X in 2021, rising by 47% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Metal Stud-Link Chain Production in GCC

In value terms, metal stud-link chain production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded prominent growth. The growth pace was the most rapid in 2015 with an increase of 151%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Metal Stud-Link Chain Exports

Exports in GCC

In 2021, shipments abroad of iron/steel stud-link chain was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports showed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal stud-link chain exports soared to $X in 2021. Overall, exports continue to indicate a perceptible increase. The growth pace was the most rapid in 2018 with an increase of 97%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, reaching X tons, which was near 94% of total exports in 2021. Saudi Arabia (X tons) and Oman (X tons) took a minor share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +14.3% from 2012 to 2021. At the same time, Saudi Arabia (+37.8%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +37.8% from 2012-2021. By contrast, Oman (-14.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates and Saudi Arabia increased by +25 and +3.2 percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest metal stud-link chain supplier in GCC, comprising 66% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 29% share of total exports.

In the United Arab Emirates, metal stud-link chain exports increased at an average annual rate of +2.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+41.2% per year) and Oman (-11.1% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, reducing by -41.9% against the previous year. Overall, the export price saw a abrupt contraction. The pace of growth appeared the most rapid in 2018 when the export price increased by 36%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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 Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+3.9%), while the other leaders experienced mixed trends in the export price figures.

Metal Stud-Link Chain Imports

Imports in GCC

In 2021, approx. X tons of iron/steel stud-link chain were imported in GCC; growing by 56% on 2020. Over the period under review, imports showed a perceptible expansion. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, metal stud-link chain imports surged to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 75% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, reaching X tons, which was approx. 93% of total imports in 2021. The following importers - Bahrain (X tons), Oman (X tons) and Qatar (X tons) - each reached a 6.4% share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, Bahrain (+16.2%) and Oman (+9.0%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +16.2% from 2012-2021. By contrast, Qatar (-12.8%) illustrated a downward trend over the same period. The United Arab Emirates (+8.5 p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by -6.8% 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 ($X) constitutes the largest market for imported iron/steel stud-link chain in GCC, comprising 83% of total imports. The second position in the ranking was taken by Qatar ($X), with a 5.2% share of total imports. It was followed by Oman, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +2.3%. In the other countries, the average annual rates were as follows: Qatar (-11.9% per year) and Oman (+3.5% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, which is down by -16.9% against the previous year. In general, the import price showed a pronounced slump. The most prominent rate of growth was recorded in 2016 an increase of 31%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, 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 Qatar ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+1.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform