Saudi Arabia: Metal Rivet Market 2024

Metal Rivet Market Size in Saudi Arabia

In 2022, the Saudi metal rivet market decreased by -18.6% to $X, falling for the second consecutive year after two years of growth. Overall, consumption continues to indicate a pronounced setback. Metal rivet consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Metal Rivet Production in Saudi Arabia

In value terms, metal rivet production rose to $X in 2022 estimated in export price. Overall, the total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.7% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 49% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Metal Rivet Exports

Exports from Saudi Arabia

In 2022, approx. X tons of iron or steel rivets were exported from Saudi Arabia; growing by 228% against 2021. Over the period under review, exports, however, showed a precipitous descent. The most prominent rate of growth was recorded in 2017 with an increase of 2,803% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, metal rivet exports skyrocketed to $X in 2022. In general, exports, however, saw a deep contraction. The growth pace was the most rapid in 2017 when exports increased by 1,604% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Jordan (X tons) was the main destination for metal rivet exports from Saudi Arabia, accounting for a 83% share of total exports. Moreover, metal rivet exports to Jordan exceeded the volume sent to the second major destination, Egypt (X kg), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Jordan totaled -25.6%.

In value terms, Jordan ($X) emerged as the key foreign market for iron or steel rivets exports from Saudi Arabia, comprising 82% of total exports. The second position in the ranking was held by Egypt ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Jordan amounted to -12.9%.

Export Prices by Country

In 2022, the average metal rivet export price amounted to $X per ton, surging by 18% against the previous year. In general, the export price continues to indicate a pronounced expansion. The pace of growth appeared the most rapid in 2021 an increase of 128% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to Egypt stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sudan (+34.7%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Rivet Imports

Imports into Saudi Arabia

In 2021, after four years of growth, there was significant decline in purchases abroad of iron or steel rivets, when their volume decreased by -6.8% to X tons. Over the period under review, imports showed a abrupt decrease. The pace of growth was the most pronounced in 2015 with an increase of 112% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, metal rivet imports skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 146%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest metal rivet supplier to Saudi Arabia, accounting for a 65% share of total imports. Moreover, metal rivet imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 2% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+48.6% per year) and the United States (+10.9% per year).

In value terms, Japan ($X) constituted the largest supplier of iron or steel rivets to Saudi Arabia, comprising 56% of total imports. The second position in the ranking was taken by China ($X), with a 19% share of total imports. It was followed by the United States, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled +38.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.6% per year) and the United States (+11.7% per year).

Import Prices by Country

The average metal rivet import price stood at $X per ton in 2021, with an increase of 24% against the previous year. Over the period under review, the import price showed a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 39%. The import price peaked in 2021 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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+27.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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