GCC: Market for Stainless Steel Seamless Pipe For Oil And Gas 2024

Market Size for Stainless Steel Seamless Pipe For Oil And Gas in GCC

The GCC stainless steel seamless pipe market surged to $X in 2022, with an increase of X% against the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Stainless Steel Seamless Pipe For Oil And Gas in GCC

In value terms, stainless steel seamless pipe production reached $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Stainless Steel Seamless Pipe For Oil And Gas

Exports in GCC

In 2022, shipments abroad of stainless steel seamless pipe for oil and gas decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports saw a pronounced contraction. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, stainless steel seamless pipe exports declined significantly to $X in 2022. Over the period under review, exports saw a noticeable slump. The growth pace was the most rapid in 2015 with an increase of X%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons) was the main exporter of stainless steel seamless pipe for oil and gas, committing X% of total exports. It was distantly followed by Kuwait (X tons), Saudi Arabia (X tons) and Oman (X tons), together comprising a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Kuwait (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the largest stainless steel seamless pipe supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Kuwait (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($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 (X%), while the other leaders experienced a decline in the export price figures.

Imports of Stainless Steel Seamless Pipe For Oil And Gas

Imports in GCC

In 2022, imports of stainless steel seamless pipe for oil and gas in GCC soared to X tons, rising by X% against the previous year's figure. In general, imports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, stainless steel seamless pipe imports skyrocketed to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) prevails in imports structure, together comprising X% of total imports. It was distantly followed by Oman (X tons) and Qatar (X tons), together generating a X% share of total imports. Kuwait (X tons) held a relatively small share of total imports.

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

In value terms, the largest stainless steel seamless pipe importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), with a combined X% share of total imports.

In terms of the main importing countries, Kuwait, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price showed a abrupt decrease. The growth pace was the most rapid in 2019 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood 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 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 (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform