Middle East: Market for Articles Of Iron Or Steel 2025

Market Size for Articles Of Iron Or Steel in the Middle East

The Middle Eastern steel and iron articles market expanded notably to $X in 2022, growing by 6.9% against the previous year. The total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.8% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Articles Of Iron Or Steel in the Middle East

In value terms, steel and iron articles production expanded markedly to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.8% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 30%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Articles Of Iron Or Steel

Exports in the Middle East

In 2022, shipments abroad of articles of iron or steel increased by 9.1% to X tons, rising for the second year in a row after four years of decline. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when exports increased by 21% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, steel and iron articles exports soared to $X in 2022. Total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.4% against 2019 indices. The pace of growth appeared the most rapid in 2016 when exports increased by 24% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

Turkey prevails in exports structure, finishing at X tons, which was approx. 79% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons) and Israel (X tons), together comprising a 14% share of total exports. Saudi Arabia (X tons) took a relatively small share of total exports.

Exports from Turkey increased at an average annual rate of +4.1% from 2012 to 2022. At the same time, the United Arab Emirates (+6.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +6.0% from 2012-2022. By contrast, Israel (-2.4%) and Saudi Arabia (-7.4%) illustrated a downward trend over the same period. Turkey (+9.1 p.p.) and the United Arab Emirates (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Israel and Saudi Arabia saw its share reduced by -3.1% and -6.9% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest steel and iron articles supplier in the Middle East, comprising 76% of total exports. The second position in the ranking was held by Israel ($X), with a 12% share of total exports. It was followed by the United Arab Emirates, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value in Turkey totaled +6.8%. In the other countries, the average annual rates were as follows: Israel (+0.5% per year) and the United Arab Emirates (+2.8% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, surging by 10% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+2.9%), while the other leaders experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports in the Middle East

In 2022, after four years of decline, there was significant growth in purchases abroad of articles of iron or steel, when their volume increased by 7.8% to X tons. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 18% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, steel and iron articles imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 17%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) represented the largest importer of articles of iron or steel, mixing up 40% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 15% share, followed by Saudi Arabia (13%), Israel (9.1%) and Iraq (7.3%). The following importers - Oman (X tons) and Kuwait (X tons) - each accounted for a 5.8% share of total imports.

Turkey was also the fastest-growing in terms of the articles of iron or steel imports, with a CAGR of +14.5% from 2012 to 2022. At the same time, Israel (+9.8%) displayed positive paces of growth. The United Arab Emirates and Saudi Arabia experienced a relatively flat trend pattern. By contrast, Kuwait (-3.6%), Oman (-4.6%) and Iraq (-6.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Israel increased by +28 and +4.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Israel ($X) constituted the countries with the highest levels of imports in 2022, together comprising 66% of total imports.

In terms of the main importing countries, Israel, with a CAGR of +9.1%, recorded 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

In 2022, the import price in the Middle East amounted to $X per ton, flattening at the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 17%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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