MENA: Threaded Metal Articles Market 2024

Threaded Metal Articles Market Size in MENA

The MENA's threaded metal articles market surged to $X in 2021, jumping by 50% against the previous year. Over the period under review, consumption saw a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Threaded Metal Articles Production in MENA

In value terms, threaded metal articles production soared to $X in 2021 estimated in export price. Overall, production showed a significant increase. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Threaded Metal Articles Exports

Exports in MENA

After three years of decline, overseas shipments of threaded articles of iron or steel increased by 33% to X tons in 2021. Total exports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 62% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, threaded metal articles exports soared to $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X tons) was the key exporter of threaded articles of iron or steel, generating 65% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 25% share, followed by Israel (7.8%).

Exports from Turkey increased at an average annual rate of +7.3% from 2012 to 2021. At the same time, Israel (+26.7%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in MENA, with a CAGR of +26.7% from 2012-2021. By contrast, the United Arab Emirates (-2.4%) illustrated a downward trend over the same period. While the share of Turkey (+17 p.p.) and Israel (+6.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-18.5 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest threaded metal articles supplier in MENA, comprising 64% of total exports. The second position in the ranking was held by Israel ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Turkey totaled +6.9%. In the other countries, the average annual rates were as follows: Israel (+31.9% per year) and the United Arab Emirates (-2.5% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, picking up by 10% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2019 an increase of 32%. Over the period under review, the export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+4.1%), while the other leaders experienced a decline in the export price figures.

Threaded Metal Articles Imports

Imports in MENA

For the third consecutive year, MENA recorded decline in supplies from abroad of threaded articles of iron or steel, which decreased by -0.6% to X tons in 2021. In general, imports showed a pronounced downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 18% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, threaded metal articles imports soared to $X in 2021. The total import value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) represented the largest importer of threaded articles of iron or steel, achieving 38% of total imports. Saudi Arabia (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (8.1%), Qatar (5.6%), Israel (5.3%), Kuwait (4.8%) and Egypt (4.5%). The following importers - Iraq (X tons), Algeria (X tons), Oman (X tons), Morocco (X tons), Lebanon (X tons) and Tunisia (X tons) - together made up 18% of total imports.

From 2012 to 2021, average annual rates of growth with regard to threaded metal articles imports into the United Arab Emirates stood at -2.0%. At the same time, Qatar (+16.0%), Israel (+14.4%), Oman (+7.3%), Morocco (+7.0%), Iraq (+6.8%), Algeria (+1.6%), Lebanon (+1.4%) and Kuwait (+1.4%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in MENA, with a CAGR of +16.0% from 2012-2021. Turkey experienced a relatively flat trend pattern. By contrast, Tunisia (-5.2%), Saudi Arabia (-9.3%) and Egypt (-14.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Qatar, Israel, the United Arab Emirates, Iraq, Oman, Morocco and Kuwait increased by +4.5, +4.1, +2.7, +2.5, +1.9, +1.5 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported threaded articles of iron or steel in MENA, comprising 31% of total imports. The second position in the ranking was taken by Turkey ($X), with a 14% share of total imports. It was followed by Israel, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to +1.5%. In the other countries, the average annual rates were as follows: Turkey (+1.5% per year) and Israel (+16.5% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, surging by 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.2%. The pace of growth was the most pronounced in 2020 when the import price increased by 19% against the previous year. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Israel ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform