Middle East: Metal Hammer Market 2024

Metal Hammer Market Size in the Middle East

The Middle Eastern metal hammer market rose significantly to $X in 2022, picking up by 5.4% against the previous year. Over the period under review, consumption, however, saw a noticeable decrease. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Metal Hammer Production in the Middle East

In value terms, metal hammer production soared to $X in 2022 estimated in export price. In general, production recorded a resilient increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Metal Hammer Exports

Exports in the Middle East

In 2022, exports of hammers and sledge hammers with working part of metal in the Middle East surged to X tons, picking up by 34% on the previous year. Total exports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% 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 +43.1% against 2020 indices. The pace of growth was the most pronounced in 2014 when exports increased by 54%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal hammer exports surged to $X in 2022. Overall, exports, however, showed a slight curtailment. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) and Turkey (X tons) represented the major exporters of hammers and sledge hammers with working part of metal in 2022, accounting for near 34% and 32% of total exports, respectively. Bahrain (X tons) held the next position in the ranking, distantly followed by Oman (X tons). All these countries together took approx. 26% share of total exports. Lebanon (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Oman (with a CAGR of +30.4%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Bahrain ($X) constituted the countries with the highest levels of exports in 2022, with a combined 88% share of total exports.

Among the main exporting countries, Bahrain, with a CAGR of +13.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, surging by 2.3% against the previous year. In general, the export price, however, showed a deep reduction. The most prominent rate of growth was recorded in 2017 an increase of 26%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+12.2%), while the other leaders experienced a decline in the export price figures.

Metal Hammer Imports

Imports in the Middle East

In 2022, overseas purchases of hammers and sledge hammers with working part of metal decreased by -22.8% to X tons, falling for the eighth consecutive year after three years of growth. Overall, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 24% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, metal hammer imports reduced sharply to $X in 2022. In general, imports recorded a drastic downturn. The growth pace was the most rapid in 2013 when imports increased by 13%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons) and Iraq (X tons) represented the main importers of hammers and sledge hammers with working part of metal in 2022, reaching near 34% and 26% of total imports, respectively. Israel (X tons) held the next position in the ranking, followed by Yemen (X tons) and Oman (X tons). All these countries together held approx. 25% share of total imports. Qatar (X tons) and Kuwait (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Israel (with a CAGR of +7.1%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest metal hammer importing markets in the Middle East were the United Arab Emirates ($X), Iraq ($X) and Israel ($X), with a combined 72% share of total imports.

In terms of the main importing countries, Israel, with a CAGR of +5.6%, recorded the highest growth rate of 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

The import price in the Middle East stood at $X per ton in 2022, with an increase of 7.5% against the previous year. Import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal hammer import price increased by +64.5% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of 21% against the previous year. The level of import peaked in 2022 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 Israel ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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