Saudi Arabia: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2024

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Saudi Arabia

In 2021, the Saudi market for ribbed or other deformed wire rod of non-alloy steel increased by 33% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, saw a deep downturn. Deformed non-alloy steel wire rod consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Saudi Arabia

In value terms, deformed non-alloy steel wire rod production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production showed a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 62% against the previous year. Deformed non-alloy steel wire rod production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports from Saudi Arabia

In 2021, overseas shipments of ribbed or other deformed wire rod of non-alloy steel decreased by -2% to X tons, falling for the third year in a row after seven years of growth. Over the period under review, exports, however, saw a significant increase. The growth pace was the most rapid in 2018 when exports increased by 473% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, deformed non-alloy steel wire rod exports soared to $X in 2021. Overall, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2018 when exports increased by 475%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Kuwait (X tons), Bahrain (X tons) and Hong Kong SAR (X tons) were the main destinations of deformed non-alloy steel wire rod exports from Saudi Arabia, together accounting for 89% of total exports.

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +123.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kuwait ($X), Bahrain ($X) and Hong Kong SAR ($X) were the largest markets for deformed non-alloy steel wire rod exported from Saudi Arabia worldwide, with a combined 90% share of total exports.

Among the main countries of destination, Bahrain, with a CAGR of +77.9%, saw the highest rates of growth with regard to 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

The average export price for ribbed or other deformed wire rod of non-alloy steel stood at $X per ton in 2021, with an increase of 35% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Hong Kong SAR ($X per ton) and Bahrain ($X per ton), while the average price for exports to Egypt ($X per ton) and Kuwait ($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 Kuwait (+3.0%), while the prices for the other major destinations experienced a decline.

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports into Saudi Arabia

In 2015, imports of ribbed or other deformed wire rod of non-alloy steel into Saudi Arabia reduced to X tons, waning by -7.6% compared with the previous year. Overall, imports saw a precipitous descent. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2015, imports remained at a lower figure.

In value terms, deformed non-alloy steel wire rod imports reduced markedly to $X in 2015. Over the period under review, imports continue to indicate a dramatic contraction. Imports peaked at $X in 2012; however, from 2013 to 2015, imports remained at a lower figure.

Imports by Country

In 2015, Qatar (X tons) was the main deformed non-alloy steel wire rod supplier to Saudi Arabia, accounting for a 93% share of total imports. Moreover, deformed non-alloy steel wire rod imports from Qatar exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2015, the average annual growth rate of volume from Qatar totaled -30.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (0.0% per year) and the United Arab Emirates (-70.3% per year).

In value terms, Qatar ($X) constituted the largest supplier of ribbed or other deformed wire rod of non-alloy steel to Saudi Arabia, comprising 94% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 3.3% share of total imports.

From 2012 to 2015, the average annual rate of growth in terms of value from Qatar totaled -37.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-73.3% per year) and China (0.0% per year).

Import Prices by Country

The average import price for ribbed or other deformed wire rod of non-alloy steel stood at $X per ton in 2015, reducing by -17.4% against the previous year. In general, the import price faced a abrupt contraction. The pace of growth appeared the most rapid in 2013 when the average import price decreased by -2.4% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2015, import prices remained at a lower figure.

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

From 2012 to 2015, the most notable rate of growth in terms of prices was attained by Qatar (-12.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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