Saudi Arabia: Market for Unmounted Inserts for Tools, Sintered Metal Carbides or Cermet Plates, Sticks, Tips 2025

Market Size for Unmounted Inserts for Tools, Sintered Metal Carbides or Cermet Plates, Sticks, Tips in Saudi Arabia

The Saudi market for unmounted inserts for tools, sintered metal carbides or cermet plates, sticks, tips surged to $X in 2021, rising by 69% 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). In general, consumption enjoyed a buoyant increase. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in years to come.

Exports of Unmounted Inserts for Tools, Sintered Metal Carbides or Cermet Plates, Sticks, Tips

Exports from Saudi Arabia

In 2021, exports of unmounted inserts for tools, sintered metal carbides or cermet plates, sticks, tips from Saudi Arabia expanded rapidly to X kg, with an increase of 6.6% on the year before. Over the period under review, exports saw strong growth. The growth pace was the most rapid in 2017 when exports increased by 348%. The exports peaked at X kg in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, exports of unmounted inserts for tools, sintered metal carbides or cermet plates, sticks, tips dropped slightly to $X in 2021. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 248%. Over the period under review, the exports of attained the maximum at $X in 2020, and then fell in the following year.

Exports by Country

Nigeria (X kg) was the main destination for exports of unmounted inserts for tools, sintered metal carbides or cermet plates, sticks, tips from Saudi Arabia, accounting for a 49% share of total exports. Moreover, exports of unmounted inserts for tools, sintered metal carbides or cermet plates, sticks, tips to Nigeria exceeded the volume sent to the second major destination, Belgium (X kg), threefold. Oman (X kg) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Nigeria amounted to +20.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+11.4% per year) and Oman (+30.8% per year).

In value terms, Nigeria ($X) remains the key foreign market for unmounted inserts for tools, sintered metal carbides or cermet plates, sticks, tips exports from Saudi Arabia, comprising 20% of total exports. The second position in the ranking was held by Belgium ($X), with a 4.8% share of total exports. It was followed by Germany, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value to Nigeria amounted to +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-4.6% per year) and Germany (+26.5% per year).

Export Prices by Country

The average export price for unmounted inserts for tools, sintered metal carbides or cermet plates, sticks, tips stood at $X per ton in 2021, declining by -7.3% against the previous year. Over the period under review, the export price, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 188% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Unmounted Inserts for Tools, Sintered Metal Carbides or Cermet Plates, Sticks, Tips

Imports into Saudi Arabia

In 2021, approx. X tons of unmounted inserts for tools, sintered metal carbides or cermet plates, sticks, tips were imported into Saudi Arabia; with an increase of 84% on the previous year's figure. Overall, imports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2014 when imports increased by 392% against the previous year. Over the period under review, imports of reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, imports of unmounted inserts for tools, sintered metal carbides or cermet plates, sticks, tips rose modestly to $X in 2021. Over the period under review, imports saw a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 63% against the previous year. Over the period under review, imports of hit record highs in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of unmounted tool inserts, sticks or plates to Saudi Arabia, with a 78% share of total imports. Moreover, imports of unmounted inserts for tools, sintered metal carbides or cermet plates, sticks, tips from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +29.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+53.0% per year) and South Korea (+503.7% per year).

In value terms, the United States ($X), China ($X) and Germany ($X) were the largest unmounted tool inserts, sticks or plates suppliers to Saudi Arabia, with a combined 50% share of total imports.

China, with a CAGR of +27.3%, saw the highest rates of growth with regard to the value of imports, in terms of 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 import price for unmounted inserts for tools, sintered metal carbides or cermet plates, sticks, tips amounted to $X per ton, which is down by -43.5% against the previous year. Over the period under review, the import price continues to indicate a deep setback. The most prominent rate of growth was recorded in 2015 an increase of 122%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+16.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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