MENA: Vices And Clamps Market 2024

Vices And Clamps Market Size in MENA

The MENA's vices and clamps market reduced to $X in 2022, waning by -11.4% against the previous year. Over the period under review, consumption showed a mild decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vices And Clamps Production in MENA

In value terms, vices and clamps production fell markedly to $X in 2022 estimated in export price. In general, production, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 75%. As a result, production attained the peak level of $X, and then plummeted in the following year.

Vices And Clamps Exports

Exports in MENA

In 2022, approx. X tons of vices and clamps were exported in MENA; dropping by -16.4% compared with 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 19%. As a result, the exports reached the peak of X tons, and then declined markedly in the following year.

In value terms, vices and clamps exports declined to $X in 2022. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 18% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then fell in the following year.

Exports by Country

In 2022, Turkey (X tons) was the major exporter of vices and clamps, making up 76% of total exports. It was distantly followed by the United Arab Emirates (X tons), constituting a 15% share of total exports. The following exporters - Oman (X tons) and Lebanon (X tons) - together made up 5.1% of total exports.

Exports from Turkey increased at an average annual rate of +2.5% from 2012 to 2022. At the same time, Oman (+17.2%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of +17.2% from 2012-2022. By contrast, Lebanon (-2.8%) and the United Arab Emirates (-4.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Oman increased by +13 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest vices and clamps supplier in MENA, comprising 80% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 9.3% share of total exports. It was followed by Oman, with a 3.5% share.

In Turkey, vices and clamps exports increased at an average annual rate of +2.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+0.2% per year) and Oman (+6.5% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, rising by 4.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2014 an increase of 13% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

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 Oman ($X per ton), while Lebanon ($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 (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Vices And Clamps Imports

Imports in MENA

In 2022, approx. X tons of vices and clamps were imported in MENA; shrinking by -4.1% compared with 2021 figures. In general, imports saw a deep reduction. The growth pace was the most rapid in 2014 with an increase of 52%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vices and clamps imports contracted to $X in 2022. Overall, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 32% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia represented the major importing country with an import of around X tons, which finished at 40% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 16% share, followed by Israel (10%), Turkey (6.8%) and Morocco (6.6%). Iraq (X tons), Qatar (X tons), Algeria (X tons), Oman (X tons) and Tunisia (X tons) took a little share of total imports.

Imports into Saudi Arabia decreased at an average annual rate of -3.8% from 2012 to 2022. At the same time, Israel (+8.5%) and Morocco (+2.9%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in MENA, with a CAGR of +8.5% from 2012-2022. By contrast, Iraq (-1.5%), Qatar (-2.3%), Tunisia (-2.5%), Turkey (-5.5%), Oman (-8.3%), Algeria (-10.2%) and the United Arab Emirates (-17.2%) illustrated a downward trend over the same period. Saudi Arabia (+15 p.p.), Israel (+8.1 p.p.), Morocco (+4.5 p.p.), Iraq (+2 p.p.) and Turkey (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -28.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported vices and clamps in MENA, comprising 37% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total imports. It was followed by Israel, with a 14% share.

In Saudi Arabia, vices and clamps imports contracted by an average annual rate of -4.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (-15.7% per year) and Israel (+7.5% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, reducing by -1.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2016 when the import price increased by 17% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2018; however, from 2019 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 Qatar ($X per ton), while Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform