Saudi Arabia: Market for Welded Link Chain Of Iron Or Steel 2024

Market Size for Welded Link Chain Of Iron Or Steel in Saudi Arabia

In 2021, the Saudi metal welded link chain market increased by 9.2% to $X, rising for the third year in a row after two years of decline. Overall, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +61.5% against 2018 indices. Metal welded link chain consumption peaked in 2021 and is likely to continue growth in years to come.

Production of Welded Link Chain Of Iron Or Steel in Saudi Arabia

In value terms, metal welded link chain production fell slightly to $X in 2021 estimated in export price. Overall, the total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +43.7% against 2018 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 48%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Exports of Welded Link Chain Of Iron Or Steel

Exports from Saudi Arabia

In 2021, metal welded link chain exports from Saudi Arabia fell markedly to X tons, dropping by -76.7% compared with 2020 figures. Over the period under review, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 11,435%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal welded link chain exports fell significantly to $X in 2021. In general, exports, however, recorded strong growth. The growth pace was the most rapid in 2016 with an increase of 8,888%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Bahrain (X tons) was the main destination for metal welded link chain exports from Saudi Arabia, accounting for a 88% share of total exports. Moreover, metal welded link chain exports to Bahrain exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), more than tenfold. France (X kg) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bahrain amounted to +49.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+17.7% per year) and France (0.0% per year).

In value terms, Bahrain ($X) emerged as the key foreign market for welded link chain of iron or steel exports from Saudi Arabia, comprising 56% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 21% share of total exports. It was followed by France, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value to Bahrain totaled +34.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+22.0% per year) and France (0.0% per year).

Export Prices by Country

The average metal welded link chain export price stood at $X per ton in 2021, dropping by -44% against the previous year. Overall, the export price continues to indicate a deep reduction. The growth pace was the most rapid in 2019 an increase of 229%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sudan ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sudan (+22.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Welded Link Chain Of Iron Or Steel

Imports into Saudi Arabia

In 2021, approx. X tons of welded link chain of iron or steel were imported into Saudi Arabia; remaining relatively unchanged against 2020 figures. In general, imports showed a perceptible reduction. The growth pace was the most rapid in 2014 with an increase of 33%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, metal welded link chain imports stood at $X in 2021. Over the period under review, imports continue to indicate a temperate increase. The growth pace was the most rapid in 2013 when imports increased by 6.4%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of metal welded link chain to Saudi Arabia, accounting for a 65% share of total imports. Moreover, metal welded link chain imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -7.4%.

In value terms, China ($X) constituted the largest supplier of welded link chain of iron or steel to Saudi Arabia, comprising 45% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -1.8%.

Import Prices by Country

The average metal welded link chain import price stood at $X per ton in 2021, almost unchanged from the previous year. Overall, the import price recorded a prominent expansion. The growth pace was the most rapid in 2013 when the average import price increased by 90% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+20.1%).

Source: IndexBox Platform

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