Middle East: Non-Alloy Steel I-Sections Market 2024

Non-Alloy Steel I-Sections Market Size in the Middle East

The Middle Eastern non-alloy steel i-sections market shrank slightly to $X in 2021, declining by -2.3% against the previous year. In general, consumption recorded a deep contraction. The pace of growth was the most pronounced in 2018 with an increase of 7.1%. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Non-Alloy Steel I-Sections Production in the Middle East

In value terms, non-alloy steel i-sections production stood at $X in 2021 estimated in export price. Overall, production, however, recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2018 when the production volume increased by 22%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Non-Alloy Steel I-Sections Exports

Exports in the Middle East

In 2021, exports of i-sections of non-alloy steel in the Middle East skyrocketed to X tons, jumping by 20% on 2020. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +27.3% against 2019 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 43%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, non-alloy steel i-sections exports surged to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X tons) was the major exporter of i-sections of non-alloy steel, creating 71% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with an 18% share, followed by Bahrain (9.7%).

From 2012 to 2021, average annual rates of growth with regard to non-alloy steel i-sections exports from Turkey stood at +4.7%. At the same time, the United Arab Emirates (+33.4%) and Bahrain (+13.7%) 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 +33.4% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates and Bahrain increased by +16 and +4.1 percentage points, respectively.

In value terms, Turkey ($X) remains the largest non-alloy steel i-sections supplier in the Middle East, comprising 70% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 19% share of total exports.

In Turkey, non-alloy steel i-sections exports increased at an average annual rate of +4.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+33.2% per year) and Bahrain (+15.1% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, rising by 40% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+1.2%), while the other leaders experienced mixed trends in the export price figures.

Non-Alloy Steel I-Sections Imports

Imports in the Middle East

In 2021, approx. X tons of i-sections of non-alloy steel were imported in the Middle East; which is down by -20.5% against the year before. Overall, imports saw a drastic downturn. The pace of growth was the most pronounced in 2015 with an increase of 28%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, non-alloy steel i-sections imports rose notably to $X in 2021. In general, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2015 when imports increased by 15% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X tons) and Saudi Arabia (X tons) represented roughly 51% of total imports in 2021. Iraq (X tons) took the next position in the ranking, followed by Israel (X tons), Qatar (X tons) and Yemen (X tons). All these countries together held approx. 37% share of total imports. The United Arab Emirates (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Yemen (with a CAGR of +40.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Saudi Arabia ($X) and Iraq ($X) were the countries with the highest levels of imports in 2021, together comprising 62% of total imports. Israel, Qatar, Yemen and the United Arab Emirates lagged somewhat behind, together accounting for a further 28%.

Yemen, with a CAGR of +39.2%, recorded the highest rates of growth with regard to the value of imports, in terms of 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

The import price in the Middle East stood at $X per ton in 2021, rising by 43% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Israel ($X per ton) and the United Arab Emirates ($X per ton), while Yemen ($X per ton) and Iraq ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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