Saudi Arabia: Market for Iron or Steel Wire Products 2025

Market Size for Iron or Steel Wire Products in Saudi Arabia

In 2022, the Saudi market for iron or steel wire products decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2021, and then contracted slightly in the following year.

Exports of Iron or Steel Wire Products

Exports from Saudi Arabia

In 2022, the amount of iron or steel wire products exported from Saudi Arabia declined significantly to X tons, dropping by X% against the previous year. Over the period under review, exports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted markedly in the following year.

In value terms, iron or steel wire product exports reduced rapidly to $X in 2022. Overall, exports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then declined remarkably in the following year.

Exports by Country

Bahrain (X tons) was the main destination for iron or steel wire product exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, iron or steel wire product exports to Bahrain exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bahrain totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and the Netherlands (X% per year).

In value terms, Bahrain ($X), the Netherlands ($X) and the United Arab Emirates ($X) constituted the largest markets for iron or steel wire product exported from Saudi Arabia worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, Bahrain, with a CAGR of X%, 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 2022, the average export price for iron or steel wire products amounted to $X per ton, falling by X% against the previous year. In general, the export price recorded a slight slump. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (X%), while the prices for the other major destinations experienced a decline.

Imports of Iron or Steel Wire Products

Imports into Saudi Arabia

In 2022, the amount of iron or steel wire products imported into Saudi Arabia rose markedly to X tons, surging by X% on 2021 figures. In general, imports continue to indicate a measured increase. The growth pace was the most rapid in 2020 when imports increased by X%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel wire product imports declined to $X in 2022. Overall, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest iron or steel wire product supplier to Saudi Arabia, with a X% share of total imports. Moreover, iron or steel wire product imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), ninefold. The third position in this ranking was held by the UK (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the UK (X% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel wire products to Saudi Arabia, comprising X% of total imports. The second position in the ranking was held by India ($X), with an X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the average import price for iron or steel wire products amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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