GCC: Market for Welded Link Chain Of Iron Or Steel 2024

Market Size for Welded Link Chain Of Iron Or Steel in GCC

In 2021, the GCC metal welded link chain market increased by 22% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +69.1% against 2018 indices. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Production of Welded Link Chain Of Iron Or Steel in GCC

In value terms, metal welded link chain production dropped to $X in 2021 estimated in export price. The total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +43.7% against 2018 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 48%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Exports of Welded Link Chain Of Iron Or Steel

Exports in GCC

In 2021, the amount of welded link chain of iron or steel exported in GCC dropped notably to X tons, waning by -19.2% against the previous year's figure. In general, exports, however, saw a noticeable expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 292% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, metal welded link chain exports fell markedly to $X in 2021. Overall, exports, however, posted a noticeable expansion. The pace of growth was the most pronounced in 2016 with an increase of 787%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, the United Arab Emirates (X tons) represented the main exporter of welded link chain of iron or steel, making up 78% of total exports. Oman (X tons) held the second position in the ranking, followed by Saudi Arabia (X tons). All these countries together took near 21% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +2.4% from 2012 to 2021. At the same time, Oman (+40.2%) and Saudi Arabia (+18.8%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +40.2% from 2012-2021. From 2012 to 2021, the share of Oman and Saudi Arabia increased by +10 and +6.8 percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest metal welded link chain supplier in GCC, comprising 88% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 6.4% share of total exports.

In the United Arab Emirates, metal welded link chain exports increased at an average annual rate of +3.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+7.6% per year) and Oman (+31.6% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, shrinking by -38.2% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 126%. The level of export peaked at $X per ton in 2020, and then plummeted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.1%), while the other leaders experienced a decline in the export price figures.

Imports of Welded Link Chain Of Iron Or Steel

Imports in GCC

In 2021, the amount of welded link chain of iron or steel imported in GCC skyrocketed to X tons, picking up by 92% against the previous year's figure. Overall, imports showed moderate growth. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, metal welded link chain imports soared to $X in 2021. Over the period under review, imports saw a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates was the largest importing country with an import of about X tons, which resulted at 74% of total imports. It was distantly followed by Saudi Arabia (X tons), comprising a 15% share of total imports. The following importers - Qatar (X tons), Bahrain (X tons) and Kuwait (X tons) - together made up 10% of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +5.4% from 2012 to 2021. At the same time, Bahrain (+8.0%) and Qatar (+7.0%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +8.0% from 2012-2021. By contrast, Kuwait (-1.9%) and Saudi Arabia (-3.2%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+12 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Kuwait (-1.8 p.p.) and Saudi Arabia (-11.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported welded link chain of iron or steel in GCC, comprising 69% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 19% share of total imports. It was followed by Qatar, with a 5.5% share.

In the United Arab Emirates, metal welded link chain imports expanded at an average annual rate of +6.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+4.8% per year) and Qatar (+1.4% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, jumping by 23% against the previous year. Import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the import price increased by 52%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the 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 ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform