Saudi Arabia: Winding Wire Market 2024

Winding Wire Market Size in Saudi Arabia

The Saudi winding wire market declined significantly to less than $X in 2022, with a decrease of 99.9% against the previous year. Over the period under review, consumption, however, recorded tangible growth. Winding wire consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Winding Wire Production in Saudi Arabia

In value terms, winding wire production amounted to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. Winding wire production peaked in 2022 and is expected to retain growth in the near future.

Winding Wire Exports

Exports from Saudi Arabia

In 2022, after four years of decline, there was significant growth in shipments abroad of winding wire for electrical purposes, when their volume increased by 36% to X tons. Overall, exports, however, continue to indicate a abrupt slump. The growth pace was the most rapid in 2017 when exports increased by 360%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, winding wire exports totaled $X in 2022. Over the period under review, exports, however, recorded a deep downturn. The pace of growth was the most pronounced in 2017 when exports increased by 338% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Qatar (X tons) was the main destination for winding wire exports from Saudi Arabia, accounting for a 81% share of total exports. Moreover, winding wire exports to Qatar exceeded the volume sent to the second major destination, Bahrain (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar totaled +40.5%.

In value terms, Qatar ($X) emerged as the key foreign market for winding wire for electrical purposes exports from Saudi Arabia, comprising 75% of total exports. The second position in the ranking was held by Bahrain ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar totaled +23.9%.

Export Prices by Country

The average winding wire export price stood at $X per ton in 2022, reducing by -23% against the previous year. In general, the export price recorded a slight shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by 39% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Qatar 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 (+34.2%), while the prices for the other major destinations experienced more modest paces of growth.

Winding Wire Imports

Imports into Saudi Arabia

In 2021, supplies from abroad of winding wire for electrical purposes increased by 17% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, showed a noticeable decline. The pace of growth appeared the most rapid in 2017 with an increase of 54% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, winding wire imports surged to $X in 2021. Overall, total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of winding wire to Saudi Arabia, accounting for a 36% share of total imports. Moreover, winding wire imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. India (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+20.2% per year) and India (+21.0% per year).

In value terms, the largest winding wire suppliers to Saudi Arabia were the United States ($X), China ($X) and Italy ($X), together accounting for 62% of total imports. India, Germany, Poland, the United Arab Emirates and Spain lagged somewhat behind, together accounting for a further 27%.

In terms of the main suppliers, Poland, with a CAGR of +128.3%, recorded the highest rates of growth with regard to 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

The average winding wire import price stood at $X per ton in 2021, jumping by 42% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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