MENA: Market for Stainless Steel Seamless Pipe For Oil And Gas 2024

Market Size for Stainless Steel Seamless Pipe For Oil And Gas in MENA

The MENA's stainless steel seamless pipe market soared to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Stainless Steel Seamless Pipe For Oil And Gas in MENA

In value terms, stainless steel seamless pipe production rose remarkably to $X in 2022 estimated in export price. Overall, production showed a resilient increase. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Stainless Steel Seamless Pipe For Oil And Gas

Exports in MENA

After two years of growth, shipments abroad of stainless steel seamless pipe for oil and gas decreased by X% to X tons in 2022. Over the period under review, exports showed a pronounced curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, stainless steel seamless pipe exports declined dramatically to $X in 2022. Overall, exports recorded a perceptible decline. The pace of growth was the most pronounced in 2015 when exports increased by X%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons), distantly followed by Kuwait (X tons), Saudi Arabia (X tons) and Oman (X tons) represented the major exporters of stainless steel seamless pipe for oil and gas, together constituting X% of total exports. Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Kuwait (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the largest stainless steel seamless pipe supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, 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 Turkey (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Stainless Steel Seamless Pipe For Oil And Gas

Imports in MENA

In 2022, the amount of stainless steel seamless pipe for oil and gas imported in MENA skyrocketed to X tons, rising by X% on 2021. Total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, stainless steel seamless pipe imports surged to $X in 2022. Over the period under review, imports, however, continue to indicate a mild downturn. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) were the major importers of stainless steel seamless pipe for oil and gas in 2022, finishing at approx. X% and X% of total imports, respectively. It was distantly followed by Oman (X tons), Libya (X tons) and Qatar (X tons), together comprising a X% share of total imports. Kuwait (X tons) and Iran (X tons) held a little share of total imports.

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

In value terms, the largest stainless steel seamless pipe importing markets in MENA were the United Arab Emirates ($X), Saudi Arabia ($X) and Libya ($X), together comprising X% of total imports.

Libya, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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, falling by X% against the previous year. Overall, the import price continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2019 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 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 Libya ($X per ton), while Qatar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform