Saudi Arabia: Market for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers 2021

Market Size for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers in Saudi Arabia

In 2020, the Saudi market for iron, steel or aluminium reservoirs, tanks, vats and similar containers decreased by -X% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2009 with an increase of X% against the previous year. Iron, steel or aluminium reservoir consumption peaked at $X in 2018; however, from 2019 to 2020, consumption remained at a lower figure.

Production of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers in Saudi Arabia

In value terms, iron, steel or aluminium reservoir production skyrocketed to $X in 2020 estimated in export prices. In general, production recorded a buoyant expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Exports from Saudi Arabia

In 2020, overseas shipments of iron, steel or aluminium reservoirs, tanks, vats and similar containers decreased by -X% to X tons, falling for the second year in a row after four years of growth. Overall, exports showed a noticeable downturn. The most prominent rate of growth was recorded in 2017 when exports increased by X% y-o-y. Over the period under review, exports attained the maximum at X tons in 2018; however, from 2019 to 2020, exports failed to regain the momentum.

In value terms, iron, steel or aluminium reservoir exports dropped rapidly to $X in 2020. In general, exports recorded a mild descent. The most prominent rate of growth was recorded in 2010 when exports increased by X% against the previous year. Exports peaked at $X in 2018; however, from 2019 to 2020, exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for iron, steel or aluminium reservoir exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, iron, steel or aluminium reservoir exports to India exceeded the volume sent to the second major destination, South Korea (X tons), twofold. Oman (X tons) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to India stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+X% per year) and Oman (+X% per year).

In value terms, Pakistan ($X), South Korea ($X) and Oman ($X) were the largest markets for iron, steel or aluminium reservoir exported from Saudi Arabia worldwide, together accounting for X% of total exports.

Pakistan (+X% per year) recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average export price for iron, steel or aluminium reservoirs, tanks, vats and similar containers amounted to $X per ton, rising by X% against the previous year. Overall, export price indicated a tangible expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, iron, steel or aluminium reservoir export price increased by +X% against 2017 indices. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. The export price peaked in 2020 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was Pakistan ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan, while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Imports into Saudi Arabia

Iron, steel or aluminium reservoir imports into Saudi Arabia was estimated at X kg in 2020, standing approx. at 2019. Overall, imports recorded a significant curtailment. Imports peaked at X tons in 2007; however, from 2008 to 2020, imports remained at a lower figure.

In value terms, iron, steel or aluminium reservoir imports stood at $X in 2020. In general, imports saw a precipitous curtailment. Imports peaked at $X in 2007; however, from 2008 to 2020, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), the United Arab Emirates (X tons) and Turkey (X tons) were the main suppliers of iron, steel or aluminium reservoir imports to Saudi Arabia, with a combined X% share of total imports. The UK, India, the U.S., Germany, Spain, the Czech Republic, Italy, South Africa, South Korea and the Netherlands lagged somewhat behind, together comprising a further X%. Moreover, iron, steel or aluminium reservoir imports in China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates, fivefold.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Africa, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron, steel or aluminium reservoir suppliers to Saudi Arabia were China ($X), the United Arab Emirates ($X) and the U.S. ($X), together accounting for X% of total imports. Germany, the UK, Spain, Turkey, South Korea, Italy, India, the Czech Republic, the Netherlands and South Africa lagged somewhat behind, together accounting for a further X Africa recorded the highest growth rate of 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 2019, the average import price for iron, steel or aluminium reservoirs, tanks, vats and similar containers amounted to $X per ton, stabilizing at the previous year. Overall, the import price recorded a pronounced curtailment. The import price peaked at $X per ton in 2007; however, from 2008 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the U.S. ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the UK, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :