GCC: Market for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) 2025

Market Size for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in GCC

The GCC market for tubes, pipes and hollow profiles (of iron or steel) reduced remarkably to $X in 2021, dropping by -37% against the previous year. In general, consumption recorded a deep contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in GCC

In value terms, production of tubes, pipes and hollow profiles (of iron or steel) dropped to $X in 2021 estimated in export price. Over the period under review, production, however, showed measured growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 76%. As a result, production reached the peak level of $X. From 2019 to 2021, production of growth failed to regain momentum.

Exports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Exports in GCC

After two years of decline, shipments abroad of tubes, pipes and hollow profiles (of iron or steel) increased by 35% to X tons in 2021. The total export volume increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, exports of tubes, pipes and hollow profiles (of iron or steel) skyrocketed to $X in 2021. Overall, exports recorded a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates represented the largest exporter of tubes, pipes and hollow profiles (of iron or steel) in GCC, with the volume of exports resulting at X tons, which was approx. 59% of total exports in 2021. Saudi Arabia (X tons) ranks second in terms of the total exports with a 22% share, followed by Oman (17%).

The United Arab Emirates was also the fastest-growing in terms of the tubes, pipes and hollow profiles (of iron or steel) exports, with a CAGR of +6.7% from 2012 to 2021. Oman experienced a relatively flat trend pattern. Saudi Arabia (-3.4%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+20 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Oman (-3.7 p.p.) and Saudi Arabia (-14 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest iron or steel pipe and tube supplier in GCC, comprising 60% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +3.9%. In the other countries, the average annual rates were as follows: Saudi Arabia (-4.7% per year) and Oman (-0.4% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, with an increase of 11% against the previous year. Over the period under review, the export price, however, recorded a mild contraction. The most prominent rate of growth was recorded in 2019 when the export price increased by 30%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($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 (-0.1%), while the other leaders experienced a decline in the export price figures.

Imports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Imports in GCC

In 2021, imports of tubes, pipes and hollow profiles (of iron or steel) in GCC reduced dramatically to X tons, with a decrease of -20.7% against the previous year's figure. Overall, imports showed a deep downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 6.9%. Over the period under review, imports of reached the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of tubes, pipes and hollow profiles (of iron or steel) reduced remarkably to $X in 2021. Over the period under review, imports saw a deep reduction. The pace of growth appeared the most rapid in 2019 with an increase of 17% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons), distantly followed by Oman (X tons), Saudi Arabia (X tons), Kuwait (X tons), Qatar (X tons) and Bahrain (X tons) were the largest importers of tubes, pipes and hollow profiles (of iron or steel), together making up 100% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bahrain (with a CAGR of +4.3%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest iron or steel pipe and tube importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), with a combined 69% share of total imports. Qatar, Kuwait and Bahrain lagged somewhat behind, together accounting for a further 31%.

Bahrain, with a CAGR of +2.9%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, rising by 6.1% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 10%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Kuwait ($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 (+3.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform