MENA: Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size in MENA

In 2022, the MENA's steel stranded wire market decreased by -0.5% to $X, falling for the third year in a row after three years of growth. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Steel Stranded Wire Production in MENA

In value terms, steel stranded wire production shrank to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +6.8% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 38% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Steel Stranded Wire Exports

Exports in MENA

In 2022, overseas shipments of iron or steel stranded wire, ropes and cables increased by 1% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +38.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37%. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, steel stranded wire exports rose sharply to $X in 2022. Total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 53%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Turkey prevails in exports structure, resulting at X tons, which was near 78% of total exports in 2022. Tunisia (X tons) held a 7% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (6.8%) and Saudi Arabia (5.5%).

Exports from Turkey increased at an average annual rate of +7.3% from 2012 to 2022. At the same time, Tunisia (+28.9%) and the United Arab Emirates (+2.0%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +28.9% from 2012-2022. By contrast, Saudi Arabia (-12.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Tunisia increased by +20 and +6.2 percentage points, respectively.

In value terms, Turkey ($X) remains the largest steel stranded wire supplier in MENA, comprising 80% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7.7% share of total exports. It was followed by Tunisia, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled +5.9%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+0.8% per year) and Tunisia (+17.1% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, with an increase of 11% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 12%. The level of export peaked at $X per ton in 2013; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.0%), while the other leaders experienced a decline in the export price figures.

Steel Stranded Wire Imports

Imports in MENA

In 2022, overseas purchases of iron or steel stranded wire, ropes and cables were finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 12%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, steel stranded wire imports stood at $X in 2022. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons), distantly followed by Turkey (X tons), Morocco (X tons), Israel (X tons), Iran (X tons), Egypt (X tons) and Kuwait (X tons) represented the key importers of iron or steel stranded wire, ropes and cables, together comprising 76% of total imports. Iraq (X tons), Algeria (X tons), Saudi Arabia (X tons), Bahrain (X tons), Oman (X tons) and Qatar (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +5.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest steel stranded wire importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Israel ($X), together comprising 53% of total imports.

Among the main importing countries, Israel, with a CAGR of +7.8%, 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 2022, increasing by 2.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2021 when the import price increased by 16%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform