Middle East: Cold-Rolled Steel Products Market 2025

Cold-Rolled Steel Products Market Size in the Middle East

In 2022, the Middle Eastern cold-rolled steel products market increased by 36% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Cold-Rolled Steel Products Production in the Middle East

In value terms, cold-rolled steel products production declined modestly to $X in 2022 estimated in export price. In general, production recorded a abrupt decrease. The most prominent rate of growth was recorded in 2013 with an increase of 8.6%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Cold-Rolled Steel Products Exports

Exports in the Middle East

In 2022, cold-rolled steel products exports in the Middle East contracted to X tons, dropping by -10.4% on 2021 figures. Over the period under review, exports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 72% against the previous year. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, cold-rolled steel products exports surged to $X in 2022. Overall, exports, however, saw prominent growth. The growth pace was the most rapid in 2021 when exports increased by 138% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The biggest shipments were from Turkey (X tons), together resulting at 96% of total export.

Turkey was also the fastest-growing in terms of the flat-rolled products of iron or steel (not further worked than cold-rolled) exports, with a CAGR of +19.1% from 2012 to 2022. Turkey (+66 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest cold-rolled steel products supplier in the Middle East.

From 2012 to 2022, the average annual growth rate of value in Turkey totaled +22.5%.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, increasing by 29% against the previous year. Export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products export price increased by +78.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 39% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to +2.9% per year.

Cold-Rolled Steel Products Imports

Imports in the Middle East

In 2022, purchases abroad of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by 9.4% to X tons, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 12%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, cold-rolled steel products imports soared to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +85.2% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 38% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

Turkey represented the key importing country with an import of around X tons, which resulted at 57% of total imports. The United Arab Emirates (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Jordan (7.1%), Saudi Arabia (6.3%) and Iran (4.8%). Iraq (X tons) and Israel (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cold-rolled steel products imports into Turkey stood at +3.5%. At the same time, the United Arab Emirates (+10.3%), Jordan (+7.2%) and Iraq (+3.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +10.3% from 2012-2022. Israel experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-8.1%) and Iran (-10.4%) illustrated a downward trend over the same period. While the share of Turkey (+11 p.p.), the United Arab Emirates (+8.8 p.p.) and Jordan (+3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (-10.6 p.p.) and Iran (-11.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than cold-rolled) in the Middle East, comprising 69% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by Iran, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to +5.6%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+6.7% per year) and Iran (-9.6% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, growing by 21% against the previous year. Import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products import price increased by +50.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 24% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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