Middle East: Coated Arc-Welding Electrode Market 2024

Coated Arc-Welding Electrode Market Size in the Middle East

In 2022, the Middle Eastern coated arc-welding electrode market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Coated Arc-Welding Electrode Production in the Middle East

In value terms, coated arc-welding electrode production shrank rapidly to $X in 2022 estimated in export price. Over the period under review, production saw a strong increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Coated Arc-Welding Electrode Exports

Exports in the Middle East

In 2022, shipments abroad of coated base metal electrodes for electric arc-welding increased by X% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, coated arc-welding electrode exports soared to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey was the key exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by the United Arab Emirates (X tons), mixing up a X% share of total exports. Iran (X tons) held a minor share of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of coated base metal electrodes for electric arc-welding. At the same time, Iran (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates and Iran increased by X and X percentage points, respectively.

In value terms, Turkey ($X) remains the largest coated arc-welding electrode supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

In Turkey, coated arc-welding electrode exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Iran (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced mixed trends in the export price figures.

Coated Arc-Welding Electrode Imports

Imports in the Middle East

In 2022, coated arc-welding electrode imports in the Middle East reduced to X tons, which is down by X% on the previous year. In general, imports recorded a noticeable curtailment. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, coated arc-welding electrode imports dropped rapidly to $X in 2022. Over the period under review, imports recorded a slight contraction. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then reduced sharply in the following year.

Imports by Country

The purchases of the three major importers of coated base metal electrodes for electric arc-welding, namely the United Arab Emirates, Saudi Arabia and Iraq, represented more than two-thirds of total import. It was distantly followed by Yemen (X tons), mixing up a X% share of total imports. Syrian Arab Republic (X tons), Oman (X tons), Kuwait (X tons), Qatar (X tons), Lebanon (X tons) and Bahrain (X tons) followed a long way behind the leaders.

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

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Iraq ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Qatar, Oman, Kuwait, Yemen, Bahrain, Syrian Arab Republic and Lebanon lagged somewhat behind, together comprising a further X%.

Bahrain, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 2022, the import price in the Middle East amounted to $X per ton, reducing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X per ton), while Yemen ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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