Middle East: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2025

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in the Middle East

The Middle Eastern market for hot-rolled wire rod in coil of stainless steel reduced to $X in 2022, waning by -8.6% against the previous year. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 -31.4% against 2020 indices. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Hot-Rolled Wire Rod In Coil Of Stainless Steel in the Middle East

In value terms, hot-rolled wire stainless steel rod production totaled $X in 2022 estimated in export price. In general, production posted a buoyant increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 101% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports in the Middle East

In 2022, hot-rolled wire stainless steel rod exports in the Middle East soared to X tons, with an increase of 17% on the previous year. In general, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 406% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, hot-rolled wire stainless steel rod exports soared to $X in 2022. Overall, exports, however, faced a abrupt descent. The pace of growth appeared the most rapid in 2017 with an increase of 170% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the largest exporting country with an export of around X tons, which reached 60% of total exports. Iran (X tons) took a 26% share (based on physical terms) of total exports, which put it in second place, followed by Oman (13%).

Exports from the United Arab Emirates decreased at an average annual rate of -13.9% from 2012 to 2022. At the same time, Oman (+19.2%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +19.2% from 2012-2022. By contrast, Iran (-16.0%) illustrated a downward trend over the same period. While the share of Oman (+12 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Iran (-6.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest hot-rolled wire stainless steel rod supplier in the Middle East, comprising 68% of total exports. The second position in the ranking was held by Iran ($X), with a 16% share of total exports.

In the United Arab Emirates, hot-rolled wire stainless steel rod exports plunged by an average annual rate of -15.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (-19.1% per year) and Oman (+16.3% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, rising by 3.8% against the previous year. Over the period under review, the export price, however, saw a pronounced setback. The pace of growth was the most pronounced in 2014 an increase of 53%. Over the period under review, the export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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 the United Arab Emirates (-1.6%), while the other leaders experienced a decline in the export price figures.

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports in the Middle East

After two years of growth, purchases abroad of hot-rolled wire rod in coil of stainless steel decreased by -9.7% to X tons in 2022. In general, imports recorded a perceptible decline. The growth pace was the most rapid in 2018 when imports increased by 67%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled wire stainless steel rod imports declined to $X in 2022. Overall, imports continue to indicate a perceptible setback. The growth pace was the most rapid in 2020 with an increase of 49%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates prevails in imports structure, resulting at X tons, which was approx. 87% of total imports in 2022. Kuwait (X tons) held the second position in the ranking, followed by Turkey (X tons). All these countries together held near 12% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hot-rolled wire stainless steel rod imports into the United Arab Emirates stood at +4.4%. At the same time, Kuwait (+42.9%) and Turkey (+13.6%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +42.9% from 2012-2022. The United Arab Emirates (+47 p.p.), Kuwait (+6.2 p.p.) and Turkey (+4.2 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported hot-rolled wire rod in coil of stainless steel in the Middle East, comprising 87% of total imports. The second position in the ranking was held by Turkey ($X), with a 7.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+14.0% per year) and Kuwait (+27.0% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, rising by 4.4% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 108%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while Kuwait ($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 (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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