MENA: Market for Iron or Steel Wire Products 2025

Market Size for Iron or Steel Wire Products in MENA

In 2022, the MENA's market for iron or steel wire products was finally on the rise to reach $X after two years of decline. Overall, consumption, however, recorded a mild downturn. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Iron or Steel Wire Products in MENA

In value terms, iron or steel wire product production fell to $X in 2022 estimated in export price. Over the period under review, production saw resilient growth. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Iron or Steel Wire Products

Exports in MENA

After six years of growth, overseas shipments of iron or steel wire products decreased by X% to X tons in 2022. Overall, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of X tons, and then contracted slightly in the following year.

In value terms, iron or steel wire product exports reached $X in 2022. Over the period under review, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Turkey was the main exporting country with an export of about X tons, which reached X% of total exports. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Tunisia (X tons) and Israel (X tons). All these countries together took approx. X% share of total exports. The following exporters - Saudi Arabia (X tons) and Oman (X tons) - each resulted at a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to iron or steel wire product exports from Turkey stood at X%. At the same time, Oman (X%), Saudi Arabia (X%), Tunisia (X%), the United Arab Emirates (X%) and Israel (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while Israel and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest iron or steel wire product supplier in MENA, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Israel, with an X% share.

In Turkey, iron or steel wire product exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Israel (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, rising by X% against the previous year. Overall, the export price, however, recorded a mild setback. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Iron or Steel Wire Products

Imports in MENA

In 2022, iron or steel wire product imports in MENA surged to X tons, with an increase of X% against the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, 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.

In value terms, iron or steel wire product imports soared to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, 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 2022, Saudi Arabia (X tons) and the United Arab Emirates (X tons) represented the largest importers of iron or steel wire products in MENA, together recording approx. X% of total imports. Egypt (X tons) ranks next in terms of the total imports with a X% share, followed by Turkey (X%). Iraq (X tons), Qatar (X tons), Morocco (X tons), Algeria (X tons), Israel (X tons), Kuwait (X tons), Oman (X tons) and Yemen (X tons) followed a long way behind the leaders.

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

In value terms, the largest iron or steel wire product importing markets in MENA were Saudi Arabia ($X), the United Arab Emirates ($X) and Egypt ($X), with a combined X% share of total imports.

Egypt, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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, reducing by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform