United Arab Emirates: Concrete Reinforcing Bar Market 2024

Concrete Reinforcing Bar Market Size in the United Arab Emirates

The concrete reinforcing bar market in the United Arab Emirates skyrocketed to $X in 2022, surging by 4,046% against the previous year. Over the period under review, consumption, however, recorded a abrupt downturn. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Concrete Reinforcing Bar Production in the United Arab Emirates

In value terms, concrete reinforcing bar production surged to $X in 2022 estimated in export price. Overall, production showed resilient growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 209% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Concrete Reinforcing Bar Exports

Exports from the United Arab Emirates

In 2022, shipments abroad of concrete reinforcing bars decreased by -37.8% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, recorded a moderate increase. The most prominent rate of growth was recorded in 2019 with an increase of 233% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, concrete reinforcing bar exports plummeted to $X in 2022. In general, exports, however, showed a resilient increase. The growth pace was the most rapid in 2013 with an increase of 183% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for concrete reinforcing bar exports from the United Arab Emirates, with a 61% share of total exports. Moreover, concrete reinforcing bar exports to Hong Kong SAR exceeded the volume sent to the second major destination, Canada (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hong Kong SAR stood at +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+230.5% per year) and Singapore (+122.2% per year).

In value terms, the largest markets for concrete reinforcing bar exported from the United Arab Emirates were Hong Kong SAR ($X), Canada ($X) and Singapore ($X), together accounting for 93% of total exports.

Among the main countries of destination, Canada, with a CAGR of +178.1%, 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 concrete reinforcing bar export price stood at $X per ton in 2022, rising by 27% against the previous year. Overall, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, concrete reinforcing bar export price increased by +67.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 31% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Singapore ($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 Hong Kong SAR (+16.4%), while the prices for the other major destinations experienced mixed trend patterns.

Concrete Reinforcing Bar Imports

Imports into the United Arab Emirates

Concrete reinforcing bar imports into the United Arab Emirates fell notably to X tons in 2022, shrinking by -16.2% against the previous year. Overall, imports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2018 with an increase of 31% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, concrete reinforcing bar imports dropped to $X in 2022. In general, imports faced a deep contraction. The growth pace was the most rapid in 2018 when imports increased by 64%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Turkey (X tons), China (X tons) and Germany (X tons) were the main suppliers of concrete reinforcing bar imports to the United Arab Emirates, together accounting for 71% of total imports. India, Poland and Uzbekistan lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +480.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest concrete reinforcing bar suppliers to the United Arab Emirates were China ($X), Turkey ($X) and Germany ($X), together comprising 72% of total imports. India, Poland and Uzbekistan lagged somewhat behind, together comprising a further 10%.

Poland, with a CAGR of +493.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average concrete reinforcing bar import price stood at $X per ton in 2022, growing by 1.7% against the previous year. In general, the import price recorded modest growth. The pace of growth was the most pronounced in 2017 an increase of 27%. The import price peaked in 2022 and is expected to retain growth in the near future.

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 China ($X per ton), while the price for Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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