MENA: Metal Rivet Market 2024

Metal Rivet Market Size in MENA

In 2022, the MENA's metal rivet market decreased by -7.6% to $X, falling for the second consecutive year after four years of growth. Over the period under review, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Metal Rivet Production in MENA

In value terms, metal rivet production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 19%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Metal Rivet Exports

Exports in MENA

In 2022, shipments abroad of iron or steel rivets increased by 7.5% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 51% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal rivet exports amounted to $X in 2022. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by 50%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Turkey dominates exports structure, amounting to X tons, which was near 94% of total exports in 2022. The United Arab Emirates (X tons) held a minor share of total exports.

Turkey was also the fastest-growing in terms of the iron or steel rivets exports, with a CAGR of +9.5% from 2012 to 2022. At the same time, the United Arab Emirates (+6.4%) displayed positive paces of growth. While the share of Turkey (+47 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest metal rivet supplier in MENA, comprising 90% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 2.4% share of total exports.

In Turkey, metal rivet exports increased at an average annual rate of +8.3% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, declining by -3.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2013 an increase of 25% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (-1.1%).

Metal Rivet Imports

Imports in MENA

After three years of growth, overseas purchases of iron or steel rivets decreased by -26.4% to X tons in 2022. Over the period under review, imports saw a deep slump. The pace of growth appeared the most rapid in 2019 with an increase of 36% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, metal rivet imports shrank to $X in 2022. In general, imports recorded a pronounced decline. The pace of growth appeared the most rapid in 2015 with an increase of 20% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons), distantly followed by the United Arab Emirates (X tons), Israel (X tons), Morocco (X tons), Algeria (X tons) and Egypt (X tons) represented the main importers of iron or steel rivets, together making up 79% of total imports. The following importers - Kuwait (X tons), Iran (X tons), Tunisia (X tons), Syrian Arab Republic (X tons), Bahrain (X tons), Yemen (X tons) and Oman (X tons) - together made up 16% of total imports.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +11.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported iron or steel rivets in MENA, comprising 45% of total imports. The second position in the ranking was taken by Israel ($X), with a 12% share of total imports. It was followed by the United Arab Emirates, with a 12% share.

In Turkey, metal rivet imports decreased by an average annual rate of -1.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Israel (+3.6% per year) and the United Arab Emirates (+5.4% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, jumping by 16% against the previous year. Import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal rivet import price increased by +28.2% against 2019 indices. The pace of growth appeared the most rapid in 2016 an increase of 42%. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+25.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform