Saudi Arabia: Market for Stainless Steel Seamless Pipe For Oil And Gas 2024

Market Size for Stainless Steel Seamless Pipe For Oil And Gas in Saudi Arabia

The Saudi stainless steel seamless pipe market surged to $X in 2022, jumping by X% 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 continues to indicate modest growth. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Exports of Stainless Steel Seamless Pipe For Oil And Gas

Exports from Saudi Arabia

In 2022, after two years of growth, there was decline in shipments abroad of stainless steel seamless pipe for oil and gas, when their volume decreased by X% to X tons. In general, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, stainless steel seamless pipe exports rose remarkably to $X in 2022. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for stainless steel seamless pipe exports from Saudi Arabia, with a X% share of total exports. Moreover, stainless steel seamless pipe exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States 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 Oman (X% per year).

In value terms, the United States ($X) remains the key foreign market for stainless steel seamless pipe for oil and gas exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Oman (X% per year).

Export Prices by Country

In 2022, the average stainless steel seamless pipe export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates ($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 Bahrain (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Stainless Steel Seamless Pipe For Oil And Gas

Imports into Saudi Arabia

Stainless steel seamless pipe imports into Saudi Arabia soared to X tons in 2022, jumping by X% on 2021 figures. Over the period under review, imports posted strong growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, stainless steel seamless pipe imports soared to $X in 2022. Overall, imports, however, recorded a deep downturn. The growth pace was the most rapid in 2018 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), India (X tons) and South Korea (X tons) were the main suppliers of stainless steel seamless pipe imports to Saudi Arabia, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and India ($X) appeared to be the largest stainless steel seamless pipe suppliers to Saudi Arabia, together comprising X% of total imports.

Among the main suppliers, China, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average stainless steel seamless pipe import price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price saw a drastic downturn. The pace of growth appeared the most rapid in 2019 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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