Middle East: Mill Rolling Roll Market 2024

Mill Rolling Roll Market Size in the Middle East

In 2022, the Middle Eastern mill rolling roll market decreased by -12.6% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption recorded a abrupt downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Mill Rolling Roll Production in the Middle East

In value terms, mill rolling roll production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 13%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Mill Rolling Roll Exports

Exports in the Middle East

In 2022, shipments abroad of rolls for rolling mills increased by 131% to X units, rising for the second consecutive year after three years of decline. In general, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 314% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, mill rolling roll exports surged to $X in 2022. Total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey was the major exporting country with an export of about X units, which reached 69% of total exports. It was distantly followed by the United Arab Emirates (X units), comprising a 29% share of total exports. Iran (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to mill rolling roll exports from Turkey stood at +10.4%. At the same time, the United Arab Emirates (+29.5%) and Iran (+6.4%) 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 +29.5% from 2012-2022. The United Arab Emirates (+21 p.p.) significantly strengthened its position in terms of the total exports, while Iran and Turkey saw its share reduced by -1.6% and -16.3% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest mill rolling roll supplier in the Middle East, comprising 93% of total exports. The second position in the ranking was held by Iran ($X), with a 4.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled +2.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (+5.5% per year) and the United Arab Emirates (+1.8% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, with a decrease of -41.8% against the previous year. Over the period under review, the export price showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 an increase of 211%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Iran ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (-0.8%), while the other leaders experienced a decline in the export price figures.

Mill Rolling Roll Imports

Imports in the Middle East

In 2022, the amount of rolls for rolling mills imported in the Middle East soared to X units, rising by 27% compared with the previous year. In general, imports, however, faced a sharp setback. The pace of growth was the most pronounced in 2020 when imports increased by 227% against the previous year. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, mill rolling roll imports rose sharply to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 25% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Turkey was the key importing country with an import of about X units, which accounted for 51% of total imports. The United Arab Emirates (X units) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Bahrain (13%) and Qatar (4.7%). Oman (X units), Iran (X units) and Iraq (X units) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +12.0% from 2012 to 2022. At the same time, Iraq (+14.1%), Oman (+10.6%) and the United Arab Emirates (+9.2%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +14.1% from 2012-2022. Bahrain and Iran experienced a relatively flat trend pattern. By contrast, Qatar (-44.3%) illustrated a downward trend over the same period. While the share of Turkey (+50 p.p.), the United Arab Emirates (+19 p.p.), Bahrain (+12 p.p.), Oman (+4.4 p.p.), Iran (+2.3 p.p.) and Iraq (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (-92.7 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) constitutes the largest market for imported rolls for rolling mills in the Middle East, comprising 76% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.6% share of total imports. It was followed by Bahrain, with a 2.4% share.

In Turkey, mill rolling roll imports expanded at an average annual rate of +4.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-8.7% per year) and Bahrain (+2.6% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, reducing by -14.9% against the previous year. Overall, the import price, however, recorded a significant increase. The most prominent rate of growth was recorded in 2014 an increase of 771% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+56.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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