United Arab Emirates: Steel Railway Material Market 2024

Steel Railway Material Market Size in the United Arab Emirates

In 2022, after two years of growth, there was significant decline in the steel railway material market in the United Arab Emirates, when its value decreased by -13.8% to $X. In general, consumption, however, posted a prominent increase. Steel railway material consumption peaked at $X in 2021, and then reduced in the following year.

Steel Railway Material Production in the United Arab Emirates

In value terms, steel railway material production dropped markedly to $X in 2022 estimated in export price. Overall, production continues to indicate a sharp contraction. The pace of growth was the most pronounced in 2017 with an increase of 57% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Steel Railway Material Exports

Exports from the United Arab Emirates

In 2022, overseas shipments of railway material of steel decreased by -34% to X tons, falling for the second consecutive year after two years of growth. Overall, exports saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 25% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, steel railway material exports declined remarkably to $X in 2022. In general, exports showed a dramatic decline. The growth pace was the most rapid in 2013 with an increase of 86% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Tanzania (X tons) was the main destination for steel railway material exports from the United Arab Emirates, accounting for a 76% share of total exports. Moreover, steel railway material exports to Tanzania exceeded the volume sent to the second major destination, Mozambique (X tons), sevenfold. Togo (X tons) ranked third in terms of total exports with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Tanzania stood at +95.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (+59.6% per year) and Togo (+69.7% per year).

In value terms, Tanzania ($X) emerged as the key foreign market for railway material of steel exports from the United Arab Emirates, comprising 61% of total exports. The second position in the ranking was held by Togo ($X), with a 21% share of total exports. It was followed by Mozambique, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to Tanzania totaled +129.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (+77.0% per year) and Mozambique (+49.5% per year).

Export Prices by Country

In 2022, the average steel railway material export price amounted to $X per ton, dropping by -24.6% against the previous year. In general, the export price, however, saw a moderate increase. The pace of growth was the most pronounced in 2018 an increase of 122% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Togo ($X per ton), while the average price for exports to Mozambique ($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 Iran (+39.3%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Railway Material Imports

Imports into the United Arab Emirates

After four years of growth, supplies from abroad of railway material of steel decreased by -30.5% to X tons in 2022. In general, imports, however, continue to indicate a temperate increase. The most prominent rate of growth was recorded in 2020 with an increase of 315%. Over the period under review, imports attained the peak figure at X tons in 2021, and then declined rapidly in the following year.

In value terms, steel railway material imports reached $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 333% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest steel railway material supplier to the United Arab Emirates, accounting for a 17% share of total imports. Moreover, steel railway material imports from China exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. Spain (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+17.0% per year) and Spain (+90.2% per year).

In value terms, China ($X), Turkey ($X) and Spain ($X) were the largest steel railway material suppliers to the United Arab Emirates, with a combined 31% share of total imports.

Spain, with a CAGR of +80.1%, saw the highest growth rate of 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 steel railway material import price stood at $X per ton in 2022, jumping by 47% against the previous year. Overall, the import price, however, recorded a pronounced shrinkage. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Italy ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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