MENA: Metal Skid Chain Market 2024

Metal Skid Chain Market Size in MENA

The MENA's metal skid chain market reduced rapidly to $X in 2021, declining by -34.2% against the previous year. Overall, consumption continues to indicate a noticeable contraction. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Metal Skid Chain Production in MENA

In value terms, metal skid chain production declined remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a measured expansion. The growth pace was the most rapid in 2016 when the production volume increased by 70% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Metal Skid Chain Exports

Exports in MENA

In 2021, overseas shipments of iron or steel skid chain were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports posted resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal skid chain exports soared to $X in 2021. In general, exports recorded buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X tons) represented the main exporter of iron or steel skid chain, generating 70% of total exports. It was distantly followed by the United Arab Emirates (X tons), achieving a 29% share of total exports.

Exports from Turkey increased at an average annual rate of +10.1% from 2012 to 2021. At the same time, the United Arab Emirates (+20.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +20.7% from 2012-2021. The United Arab Emirates (+15 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -10.5% from 2012 to 2021, respectively.

In value terms, the largest metal skid chain supplying countries in MENA were the United Arab Emirates ($X) and Turkey ($X).

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of +40.3%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, jumping by 18% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2014 an increase of 40% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices remained at a somewhat lower figure.

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 the United Arab Emirates (+16.2%).

Metal Skid Chain Imports

Imports in MENA

In 2021, the amount of iron or steel skid chain imported in MENA shrank remarkably to X tons, with a decrease of -27.1% against the year before. Over the period under review, imports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of 24%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, metal skid chain imports surged to $X in 2021. Overall, imports showed a abrupt downturn. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of metal skid chain imports in 2021 were Lebanon (X tons), Iraq (X tons), Morocco (X tons), Iran (X tons) and the United Arab Emirates (X tons), together accounting for 77% of total import. The following importers - Yemen (X tons), Egypt (X tons), Oman (X tons), Tunisia (X tons), Qatar (X tons) and Kuwait (X tons) - together made up 17% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Morocco (with a CAGR of +26.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Iraq ($X) constitutes the largest market for imported iron or steel skid chain in MENA, comprising 28% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by Morocco, with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value in Iraq totaled +26.3%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-14.2% per year) and Morocco (+20.6% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, surging by 64% against the previous year. Over the period under review, the import price showed a prominent increase. The most prominent rate of growth was recorded in 2018 an increase of 130% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

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 Qatar ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+27.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform