MENA: Market for Iron Or Steel Parts Of Articulated Link Chain 2024

Market Size for Iron Or Steel Parts Of Articulated Link Chain in MENA

In 2021, the MENA's metal link chain parts market was finally on the rise to reach $X for the first time since 2016, thus ending a four-year declining trend. Over the period under review, consumption, however, continues to indicate a drastic downturn. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Iron Or Steel Parts Of Articulated Link Chain in MENA

In value terms, metal link chain parts production soared to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt downturn. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Iron Or Steel Parts Of Articulated Link Chain

Exports in MENA

In 2021, shipments abroad of iron or steel parts of articulated link chain increased by 86% to X tons, rising for the second year in a row after two years of decline. In general, exports posted strong growth. The pace of growth was the most pronounced in 2014 with an increase of 94%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, metal link chain parts exports skyrocketed to $X in 2021. Over the period under review, exports recorded resilient growth. The most prominent rate of growth was recorded in 2020 when exports increased by 106%. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Exports by Country

Turkey dominates exports structure, reaching X tons, which was near 84% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), achieving a 9.4% share of total exports. Tunisia (X tons) took a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to metal link chain parts exports from Turkey stood at +36.9%. At the same time, Tunisia (+42.3%) and the United Arab Emirates (+4.3%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +42.3% from 2012-2021. While the share of Turkey (+71 p.p.) and Tunisia (+3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-7.5 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest metal link chain parts supplier in MENA, comprising 83% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total exports.

In Turkey, metal link chain parts exports expanded at an average annual rate of +34.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+6.1% per year) and Tunisia (+41.3% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, reducing by -13% against the previous year. Export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the export price increased by 34%. The level of export peaked at $X per ton in 2020, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Tunisia ($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 (+1.8%), while the other leaders experienced a decline in the export price figures.

Imports of Iron Or Steel Parts Of Articulated Link Chain

Imports in MENA

In 2021, metal link chain parts imports in MENA skyrocketed to X tons, rising by 440% on 2020 figures. In general, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal link chain parts imports soared to $X in 2021. Overall, imports posted strong growth. The pace of growth appeared the most rapid in 2018 when imports increased by 200% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Saudi Arabia dominates imports structure, finishing at X tons, which was approx. 77% of total imports in 2021. The United Arab Emirates (X tons) took the second position in the ranking, followed by Turkey (X tons). All these countries together held approx. 12% share of total imports. The following importers - Iran (X tons) and Algeria (X tons) - together made up 5.2% of total imports.

Saudi Arabia was also the fastest-growing in terms of the iron or steel parts of articulated link chain imports, with a CAGR of +33.3% from 2012 to 2021. At the same time, Iran (+28.6%), Algeria (+24.8%), the United Arab Emirates (+8.1%) and Turkey (+5.9%) displayed positive paces of growth. Saudi Arabia (+49 p.p.) and Iran (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates and Turkey saw its share reduced by -8.5% and -10.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported iron or steel parts of articulated link chain in MENA, comprising 37% of total imports. The second position in the ranking was taken by Turkey ($X), with an 18% share of total imports. It was followed by the United Arab Emirates, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia amounted to +17.2%. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+8.0% per year) and the United Arab Emirates (+3.2% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, with a decrease of -57% against the previous year. In general, the import price showed a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when the import price increased by 50% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform