MENA: Nail And Bolt Market 2024

Nail And Bolt Market Size in MENA

The MENA's nail and bolt market contracted sharply to $X in 2021, waning by -66.7% against the previous year. Over the period under review, consumption recorded a abrupt contraction. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Nail And Bolt Production in MENA

In value terms, nail and bolt production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, showed a significant increase. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Nail And Bolt Exports

Exports in MENA

In 2021, approx. X tons of nails, tacks, staples, screws and bolts were exported in MENA; rising by 24% compared with 2020 figures. Total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, nail and bolt exports skyrocketed to $X in 2021. Overall, exports showed a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey represented the key exporter of nails, tacks, staples, screws and bolts in MENA, with the volume of exports reaching X tons, which was near 60% of total exports in 2021. Oman (X tons) held a 23% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (11%). The following exporters - Saudi Arabia (X tons) and Egypt (X tons) - together made up 4.9% of total exports.

Exports from Turkey increased at an average annual rate of +12.7% from 2012 to 2021. At the same time, Oman (+32.5%) and Saudi Arabia (+10.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of +32.5% from 2012-2021. Egypt experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-5.6%) illustrated a downward trend over the same period. While the share of Oman (+19 p.p.) and Turkey (+16 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Egypt (-2.3 p.p.) and the United Arab Emirates (-28.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest nail and bolt supplier in MENA, comprising 65% of total exports. The second position in the ranking was held by Oman ($X), with a 15% share of total exports. It was followed by the United Arab Emirates, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +11.6%. In the other countries, the average annual rates were as follows: Oman (+35.2% per year) and the United Arab Emirates (-2.6% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, growing by 12% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+5.7%), while the other leaders experienced more modest paces of growth.

Nail And Bolt Imports

Imports in MENA

In 2021, imports of nails, tacks, staples, screws and bolts in MENA dropped to X tons, with a decrease of -6.8% compared with the previous year's figure. Over the period under review, imports saw a noticeable decrease. The most prominent rate of growth was recorded in 2013 when imports increased by 6.4% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, nail and bolt imports stood at $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 19% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons), Saudi Arabia (X tons) and Turkey (X tons) represented the major importer of nails, tacks, staples, screws and bolts in MENA, creating 54% of total import. Israel (X tons) took a 6.1% share (based on physical terms) of total imports, which put it in second place, followed by Iraq (5.3%), Iran (4.7%) and Qatar (4.5%). Morocco (X tons), Algeria (X tons), Egypt (X tons), Kuwait (X tons), Oman (X tons) and Tunisia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Morocco (with a CAGR of +7.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) were the countries with the highest levels of imports in 2021, together comprising 55% of total imports. Israel, Morocco, Iraq, Iran, Egypt, Algeria, Tunisia, Qatar, Oman and Kuwait lagged somewhat behind, together comprising a further 40%.

Morocco, with a CAGR of +8.3%, saw the highest rates of growth with regard to 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

In 2021, the import price in MENA amounted to $X per ton, surging by 14% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+9.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform