MENA: Winding Wire Market 2024

Winding Wire Market Size in MENA

The MENA's winding wire market shrank to $X in 2022, waning by -5.6% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Winding Wire Production in MENA

In value terms, winding wire production shrank rapidly to $X in 2022 estimated in export price. Over the period under review, production saw tangible growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 71% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Winding Wire Exports

Exports in MENA

In 2022, winding wire exports in MENA shrank modestly to X tons, which is down by -4.8% compared with the year before. In general, exports faced a abrupt curtailment. The growth pace was the most rapid in 2014 when exports increased by 12% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, winding wire exports fell to $X in 2022. Over the period under review, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 16%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey represented the main exporter of winding wire for electrical purposes in MENA, with the volume of exports resulting at X tons, which was near 53% of total exports in 2022. Jordan (X tons) ranks second in terms of the total exports with a 28% share, followed by Egypt (7.9%). Kuwait (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Turkey (with a CAGR of -4.1%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest winding wire supplying countries in MENA were Turkey ($X), Jordan ($X) and Egypt ($X), together accounting for 90% of total exports.

Among the main exporting countries, Jordan, with a CAGR of -1.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, waning by -3.2% against the previous year. Export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, winding wire export price increased by +92.8% against 2016 indices. The growth pace was the most rapid in 2021 when the export price increased by 24%. As a result, the export price attained the peak level of $X per ton, and then reduced slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+7.6%), while the other leaders experienced more modest paces of growth.

Winding Wire Imports

Imports in MENA

In 2022, the amount of winding wire for electrical purposes imported in MENA fell to X tons, which is down by -8.5% compared with the previous year's figure. In general, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2021 with an increase of 17%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, winding wire imports rose remarkably to $X in 2022. Over the period under review, imports showed a pronounced decrease. The growth pace was the most rapid in 2021 when imports increased by 38%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Iraq (X tons), distantly followed by the United Arab Emirates (X tons), Turkey (X tons), Tunisia (X tons) and Kuwait (X tons) were the largest importers of winding wire for electrical purposes, together committing 68% of total imports. Algeria (X tons), Egypt (X tons), Libya (X tons), Oman (X tons), Iran (X tons), Morocco (X tons), Israel (X tons) and Qatar (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Algeria (with a CAGR of +8.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Iraq ($X), the United Arab Emirates ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2022, together comprising 51% of total imports. Tunisia, Kuwait, Egypt, Oman, Algeria, Morocco, Libya, Israel, Iran and Qatar lagged somewhat behind, together comprising a further 45%.

In terms of the main importing countries, Algeria, with a CAGR of +11.0%, saw the highest rates of growth with regard to 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, surging by 22% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+9.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform