Middle East: Metal Link Chain Market 2024

Metal Link Chain Market Size in the Middle East

The Middle Eastern metal link chain market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, recorded a drastic downturn. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Metal Link Chain Production in the Middle East

In value terms, metal link chain production stood at $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2013 when the production volume increased by 18% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Metal Link Chain Exports

Exports in the Middle East

In 2021, the amount of iron or steel articulated link chain exported in the Middle East reduced sharply to X tons, with a decrease of -59.1% on the year before. Over the period under review, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 338% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal link chain exports declined rapidly to $X in 2021. In general, exports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 150%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the major exporter of iron or steel articulated link chain in the Middle East, with the volume of exports accounting for X tons, which was near 57% of total exports in 2021. It was distantly followed by Turkey (X tons), committing a 37% share of total exports. Iran (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +49.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Iran ($X) were the countries with the highest levels of exports in 2021, together accounting for 93% of total exports.

In terms of the main exporting countries, Iran, with a CAGR of +35.4%, saw 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 2021, the export price in the Middle East amounted to $X per ton, growing by 90% against the previous year. In general, the export price, however, continues to indicate a slight downturn. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.1%), while the other leaders experienced a decline in the export price figures.

Metal Link Chain Imports

Imports in the Middle East

In 2021, the amount of iron or steel articulated link chain imported in the Middle East reduced dramatically to X tons, dropping by -29% on 2020 figures. In general, imports saw a slight slump. The most prominent rate of growth was recorded in 2018 with an increase of 41%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, metal link chain imports contracted to $X in 2021. The total import value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 25% against the previous year. The level of import peaked at $X in 2020, and then declined in the following year.

Imports by Country

The countries with the highest levels of metal link chain imports in 2021 were Saudi Arabia (X tons), Turkey (X tons), the United Arab Emirates (X tons) and Oman (X tons), together accounting for 82% of total import. It was distantly followed by Israel (X tons), making up a 6.2% share of total imports. The following importers - Iran (X tons) and Iraq (X tons) - together made up 5.6% of total imports.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +28.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal link chain importing markets in the Middle East were Turkey ($X), Saudi Arabia ($X) and Israel ($X), with a combined 77% share of total imports. These countries were followed by the United Arab Emirates, Oman, Iraq and Iran, which together accounted for a further 17%.

Oman, with a CAGR of +14.2%, saw the highest growth rate of the value of imports, among 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, with an increase of 30% against the previous year. Import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal link chain import price increased by +23.6% against 2017 indices. The most prominent rate of growth was recorded in 2017 an increase of 44%. Over the period under review, import prices attained the peak figure in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Turkey ($X per ton), while Oman ($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 (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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