Saudi Arabia: Iron Angle Market 2024

Iron Angle Market Size in Saudi Arabia

The Saudi iron angle market dropped rapidly to $X in 2021, waning by -32.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a significant decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Iron Angle Exports

Exports from Saudi Arabia

In 2021, shipments abroad of angles, shapes and sections (of iron or non-alloy steel) was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports showed a buoyant expansion. The growth pace was the most rapid in 2015 when exports increased by 411%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron angle exports soared to $X in 2021. In general, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2015 when exports increased by 296% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

The United Arab Emirates (X tons) was the main destination for iron angle exports from Saudi Arabia, accounting for a 69% share of total exports. Moreover, iron angle exports to the United Arab Emirates exceeded the volume sent to the second major destination, Kuwait (X tons), fourfold. The third position in this ranking was taken by Oman (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+37.0% per year) and Oman (+26.1% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for angles, shapes and sections (of iron or non-alloy steel) exports from Saudi Arabia, comprising 67% of total exports. The second position in the ranking was held by Kuwait ($X), with a 16% share of total exports. It was followed by Oman, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+34.5% per year) and Oman (+25.9% per year).

Export Prices by Country

The average iron angle export price stood at $X per ton in 2021, surging by 28% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Oman ($X per ton) and Kuwait ($X per ton), while the average price for exports to Jordan ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+36.0%), while the prices for the other major destinations experienced a decline.

Iron Angle Imports

Imports into Saudi Arabia

In 2021, the amount of angles, shapes and sections (of iron or non-alloy steel) imported into Saudi Arabia declined rapidly to X tons, which is down by -35.7% compared with the previous year. Overall, imports recorded a deep downturn. The growth pace was the most rapid in 2019 with an increase of 22%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, iron angle imports amounted to $X in 2021. Over the period under review, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 14% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Oman (X tons), the United Arab Emirates (X tons) and Ukraine (X tons) were the main suppliers of iron angle imports to Saudi Arabia, together comprising 72% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Oman (with a CAGR of +49.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron angle suppliers to Saudi Arabia were Oman ($X), the United Arab Emirates ($X) and Spain ($X), together accounting for 66% of total imports.

Oman, with a CAGR of +50.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average iron angle import price amounted to $X per ton, with an increase of 59% against the previous year. Overall, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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