Middle East: Hot-Rolled Free-Cutting Steel Market 2025

Hot-Rolled Free-Cutting Steel Market Size in the Middle East

For the third consecutive year, the Middle Eastern hot-rolled free-cutting steel market recorded growth in sales value, which increased by 49% to $X in 2021. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Hot-Rolled Free-Cutting Steel Production in the Middle East

In value terms, hot-rolled free-cutting steel production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 11%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Hot-Rolled Free-Cutting Steel Exports

Exports in the Middle East

In 2021, the amount of hot-rolled bars in free-cutting steels exported in the Middle East dropped remarkably to X tons, which is down by -21.7% on 2020. Over the period under review, exports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 33%. The volume of export peaked at X tons in 2020, and then shrank notably in the following year.

In value terms, hot-rolled free-cutting steel exports shrank notably to $X in 2021. Overall, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2013 when exports increased by 32% against the previous year. The level of export peaked at $X in 2020, and then reduced markedly in the following year.

Exports by Country

In 2021, Saudi Arabia (X tons) represented the major exporter of hot-rolled bars in free-cutting steels, generating 76% of total exports. The United Arab Emirates (X tons) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (7.6%).

Exports from Saudi Arabia increased at an average annual rate of +9.2% from 2012 to 2021. At the same time, the United Arab Emirates (+17.8%) and Turkey (+8.9%) 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 +17.8% from 2012-2021. The United Arab Emirates (+7.5 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -5.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest hot-rolled free-cutting steel supplier in the Middle East, comprising 67% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total exports.

In Saudi Arabia, hot-rolled free-cutting steel exports increased at an average annual rate of +9.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+17.4% per year) and Turkey (+9.2% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, picking up by 4.9% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 9% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 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, the country with the highest price was Turkey ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+0.3%), while the other leaders experienced mixed trends in the export price figures.

Hot-Rolled Free-Cutting Steel Imports

Imports in the Middle East

Hot-rolled free-cutting steel imports contracted modestly to X tons in 2021, remaining relatively unchanged against the previous year's figure. In general, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of 189%. As a result, imports attained the peak of X tons, leveling off in the following year.

In value terms, hot-rolled free-cutting steel imports surged to $X in 2021. Overall, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 147% against the previous year. The level of import peaked in 2021 and is likely to continue growth in years to come.

Imports by Country

In 2021, Turkey (X tons) was the major importer of hot-rolled bars in free-cutting steels, mixing up 62% of total imports. Saudi Arabia (X tons) ranks second in terms of the total imports with a 23% share, followed by Kuwait (8.5%). Bahrain (X tons) and the United Arab Emirates (X tons) held a minor share of total imports.

Imports into Turkey increased at an average annual rate of +13.4% from 2012 to 2021. At the same time, Saudi Arabia (+42.2%), the United Arab Emirates (+25.8%), Kuwait (+17.8%) and Bahrain (+5.1%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +42.2% from 2012-2021. From 2012 to 2021, the share of Saudi Arabia, Turkey and Kuwait increased by +21, +19 and +4.3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported hot-rolled bars in free-cutting steels in the Middle East, comprising 66% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 20% share of total imports. It was followed by Kuwait, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value in Turkey amounted to +13.0%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+39.1% per year) and Kuwait (+15.5% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, rising by 31% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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