United Arab Emirates: Flat-Rolled Steel Products Market 2025

Flat-Rolled Steel Products Market Size in the United Arab Emirates

In 2021, the flat-rolled steel products market in the United Arab Emirates was finally on the rise to reach $X for the first time since 2015, thus ending a five-year declining trend. In general, consumption, however, showed a relatively flat trend pattern. Flat-rolled steel products consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Flat-Rolled Steel Products Production in the United Arab Emirates

In value terms, flat-rolled steel products production soared to $X in 2021 estimated in export price. Over the period under review, production, however, faced a abrupt setback. The pace of growth appeared the most rapid in 2014 with an increase of 892%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Flat-Rolled Steel Products Exports

Exports from the United Arab Emirates

In 2021, shipments abroad of flat-rolled products of iron or non-alloy steel decreased by -6.1% to X tons, falling for the fourth year in a row after three years of growth. Overall, exports, however, posted a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of 132%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, flat-rolled steel products exports rose to $X in 2021. Over the period under review, exports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 82%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Angola (X tons), Saudi Arabia (X tons) and Yemen (X tons) were the main destinations of flat-rolled steel products exports from the United Arab Emirates, together comprising 55% of total exports. These countries were followed by Oman, India, Pakistan, Ethiopia, Jordan, Spain, Democratic Republic of the Congo, Nigeria and Iran, which together accounted for a further 38%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +138.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for flat-rolled steel products exported from the United Arab Emirates were Angola ($X), Oman ($X) and Saudi Arabia ($X), with a combined 59% share of total exports. These countries were followed by India, Ethiopia, Pakistan, Jordan, Democratic Republic of the Congo, Yemen, Spain, Nigeria and Iran, which together accounted for a further 31%.

Among the main countries of destination, Spain, with a CAGR of +142.6%, saw the highest growth rate of 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

In 2021, the average flat-rolled steel products export price amounted to $X per ton, picking up by 11% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 24%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Yemen ($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 Iran (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into the United Arab Emirates

In 2021, the amount of flat-rolled products of iron or non-alloy steel imported into the United Arab Emirates soared to X tons, increasing by 26% compared with 2020. Over the period under review, total imports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +51.0% against 2016 indices. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, flat-rolled steel products imports soared to $X in 2021. In general, imports showed a noticeable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest flat-rolled steel products supplier to the United Arab Emirates, accounting for a 49% share of total imports. Moreover, flat-rolled steel products imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was held by Japan (X tons), with a 7% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+16.8% per year) and Japan (-12.9% per year).

In value terms, China ($X) constituted the largest supplier of flat-rolled products of iron or non-alloy steel to the United Arab Emirates, comprising 50% of total imports. The second position in the ranking was held by India ($X), with a 23% share of total imports. It was followed by Japan, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+17.9% per year) and Japan (-9.8% per year).

Import Prices by Country

In 2021, the average flat-rolled steel products import price amounted to $X per ton, increasing by 43% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 South Korea ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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