MENA: Non-Alloy Steel I-Sections Market 2024

Non-Alloy Steel I-Sections Market Size in MENA

In 2021, after two years of decline, there was significant growth in the MENA's non-alloy steel i-sections market, when its value increased by 10% to $X. Overall, consumption continues to indicate a abrupt downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Non-Alloy Steel I-Sections Production in MENA

In value terms, non-alloy steel i-sections production rose notably to $X in 2021 estimated in export price. In general, production, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Non-Alloy Steel I-Sections Exports

Exports in MENA

In 2021, exports of i-sections of non-alloy steel in MENA surged to X tons, rising by 20% compared with the previous year. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +24.2% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 43% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, non-alloy steel i-sections exports skyrocketed to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey was the major exporting country with an export of around X tons, which reached 71% of total exports. The United Arab Emirates (X tons) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by Bahrain (9.7%).

Exports from Turkey increased at an average annual rate of +4.7% from 2012 to 2021. At the same time, the United Arab Emirates (+33.4%) and Bahrain (+13.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +33.4% from 2012-2021. The United Arab Emirates (+15 p.p.) and Bahrain (+4.2 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -12.9% from 2012 to 2021, respectively.

In value terms, Turkey ($X) remains the largest non-alloy steel i-sections supplier in MENA, comprising 69% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey amounted to +4.9%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+33.2% per year) and Bahrain (+15.1% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, jumping by 40% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+1.2%), while the other leaders experienced mixed trends in the export price figures.

Non-Alloy Steel I-Sections Imports

Imports in MENA

In 2021, approx. X tons of i-sections of non-alloy steel were imported in MENA; which is down by -5.4% against 2020 figures. Overall, imports continue to indicate a deep reduction. The growth pace was the most rapid in 2015 with an increase of 23%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, non-alloy steel i-sections imports surged to $X in 2021. Over the period under review, imports recorded a deep contraction. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Algeria (X tons) and Morocco (X tons) represented roughly 44% of total imports in 2021. Turkey (X tons) ranks next in terms of the total imports with a 12% share, followed by Saudi Arabia (8.8%), Egypt (6.8%), Tunisia (5.9%) and Iraq (5.7%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Egypt (with a CAGR of +12.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-alloy steel i-sections importing markets in MENA were Algeria ($X), Morocco ($X) and Turkey ($X), together accounting for 55% of total imports. These countries were followed by Saudi Arabia, Egypt, Tunisia and Iraq, which together accounted for a further 27%.

Among the main importing countries, Egypt, with a CAGR of +12.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, picking up by 47% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Egypt ($X per ton) and Algeria ($X per ton), while Iraq ($X per ton) and Tunisia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+0.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform