MENA: Market for Iron or Steel Hot-Worked Helical Springs 2024

Market Size for Iron or Steel Hot-Worked Helical Springs in MENA

The MENA's metal hot-worked helical spring market skyrocketed to $X in 2021, rising by 17% against the previous year. Over the period under review, consumption saw a buoyant expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Iron or Steel Hot-Worked Helical Springs in MENA

In value terms, metal hot-worked helical spring production soared to $X in 2021 estimated in export price. In general, production saw resilient growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 79% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports in MENA

After four years of decline, overseas shipments of iron or steel hot-worked helical springs increased by 49% to X tons in 2021. Over the period under review, exports, however, showed a abrupt setback. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, metal hot-worked helical spring exports skyrocketed to $X in 2021. In general, exports, however, saw a pronounced curtailment. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey prevails in exports structure, recording X tons, which was near 95% of total exports in 2021. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to metal hot-worked helical spring exports from Turkey stood at -7.8%. The United Arab Emirates experienced a relatively flat trend pattern. Turkey (-3.1 p.p.) significantly weakened 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, Turkey ($X) remains the largest metal hot-worked helical spring supplier in MENA, comprising 90% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 3.3% share of total exports.

In Turkey, metal hot-worked helical spring exports decreased by an average annual rate of -4.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, with an increase of 18% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Turkey totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.2%).

Imports of Iron or Steel Hot-Worked Helical Springs

Imports in MENA

In 2021, approx. X tons of iron or steel hot-worked helical springs were imported in MENA; growing by 17% compared with 2020. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 23%. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal hot-worked helical spring imports soared to $X in 2021. The total import value increased at an average annual rate of +4.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) was the key importer of iron or steel hot-worked helical springs, constituting 49% of total imports. It was distantly followed by Saudi Arabia (X tons) and the United Arab Emirates (X tons), together achieving a 27% share of total imports. The following importers - Iraq (X tons), Israel (X tons), Lebanon (X tons), Jordan (X tons), Egypt (X tons), Algeria (X tons), Morocco (X tons) and Iran (X tons) - together made up 18% of total imports.

Imports into Turkey increased at an average annual rate of +3.5% from 2012 to 2021. At the same time, Algeria (+14.9%), Morocco (+12.8%), Lebanon (+8.4%), Saudi Arabia (+5.1%), Jordan (+4.8%), Israel (+3.4%) and the United Arab Emirates (+1.8%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in MENA, with a CAGR of +14.9% from 2012-2021. Iraq experienced a relatively flat trend pattern. By contrast, Iran (-10.6%) and Egypt (-23.8%) illustrated a downward trend over the same period. While the share of Turkey (+12 p.p.) and Saudi Arabia (+5.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Iran (-2.9 p.p.) and Egypt (-20 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported iron or steel hot-worked helical springs in MENA, comprising 54% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 12% share of total imports. It was followed by the United Arab Emirates, with a 9.4% share.

In Turkey, metal hot-worked helical spring imports expanded at an average annual rate of +6.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+6.8% per year) and the United Arab Emirates (+6.4% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, picking up by 5.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.6%. The most prominent rate of growth was recorded in 2014 when the import price increased by 15% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iran ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+21.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform