GCC: Mill Rolling Roll Market 2024

Mill Rolling Roll Market Size in GCC

In 2022, the GCC mill rolling roll market decreased by -3.7% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption continues to indicate a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Mill Rolling Roll Production in GCC

In value terms, mill rolling roll production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 13%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Mill Rolling Roll Exports

Exports in GCC

In 2022, the amount of rolls for rolling mills exported in GCC surged to X units, rising by 146% on the previous year. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 1,906% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, mill rolling roll exports reduced notably to $X in 2022. Over the period under review, exports, however, recorded a pronounced decline. The pace of growth appeared the most rapid in 2013 when exports increased by 147% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, the United Arab Emirates (X units) was the major exporter of rolls for rolling mills in GCC, constituting 100% of total export.

The United Arab Emirates was also the fastest-growing in terms of the rolls for rolling mills exports, with a CAGR of +29.5% from 2012 to 2022. The United Arab Emirates (+23 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest mill rolling roll supplier in GCC.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to +1.8%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, declining by -70.3% against the previous year. In general, the export price recorded a significant decrease. The growth pace was the most rapid in 2018 when the export price increased by 866%. Over the period under review, the export prices reached the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -21.4% per year.

Mill Rolling Roll Imports

Imports in GCC

In 2022, the amount of rolls for rolling mills imported in GCC surged to X units, increasing by 19% on 2021 figures. In general, imports, however, continue to indicate a sharp decline. The pace of growth was the most pronounced in 2020 when imports increased by 405%. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, mill rolling roll imports rose modestly to $X in 2022. Over the period under review, imports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2018 when imports increased by 43%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X units) represented the major importer of rolls for rolling mills, comprising 46% of total imports. Bahrain (X units) ranks second in terms of the total imports with a 31% share, followed by Qatar (11%) and Oman (11%).

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +10.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported rolls for rolling mills in GCC, comprising 34% of total imports. The second position in the ranking was taken by Bahrain ($X), with a 12% share of total imports. It was followed by Oman, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to -8.7%. The remaining importing countries recorded the following average annual rates of imports growth: Bahrain (+2.6% per year) and Oman (+5.1% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, waning by -13% against the previous year. In general, the import price, however, saw significant growth. The pace of growth was the most pronounced in 2014 an increase of 1,067% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the import prices remained at a somewhat lower figure.

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 Oman ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+56.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform