Uzbekistan: Metal Wool Market 2024

Metal Wool Market Size in Uzbekistan

In 2022, after ten years of growth, there was significant decline in the Uzbek metal wool market, when its value decreased by -99.4% to $X. Over the period under review, consumption showed a dramatic contraction. Metal wool consumption peaked at $X in 2021, and then fell dramatically in the following year.

Metal Wool Production in Uzbekistan

In value terms, metal wool production stood at $X in 2022 estimated in export price. Over the period under review, production saw significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 746% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Metal Wool Exports

Exports from Uzbekistan

For the fourth year in a row, Uzbekistan recorded growth in shipments abroad of iron or steel wool, which increased by 903% to X tons in 2022. Over the period under review, exports saw a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 2,817% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, metal wool exports soared to $X in 2022. In general, exports showed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 6,998%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Kazakhstan (X tons) was the main destination for metal wool exports from Uzbekistan, accounting for a 74% share of total exports. Moreover, metal wool exports to Kazakhstan exceeded the volume sent to the second major destination, Kyrgyzstan (X tons), fivefold.

From 2017 to 2022, the average annual rate of growth in terms of volume to Kazakhstan amounted to +84,413.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+84.3% per year) and Tajikistan (+458.1% per year).

In value terms, Kazakhstan ($X) emerged as the key foreign market for iron or steel wool exports from Uzbekistan, comprising 91% of total exports. The second position in the ranking was taken by Tajikistan ($X), with a 7.8% share of total exports.

From 2017 to 2022, the average annual rate of growth in terms of value to Kazakhstan stood at +21,411.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tajikistan (+648.3% per year) and Kyrgyzstan (+62.8% per year).

Export Prices by Country

The average metal wool export price stood at $X per ton in 2022, remaining constant against the previous year. In general, the export price saw a significant increase. The pace of growth appeared the most rapid in 2021 an increase of 143%. The export price peaked in 2022 and is likely to see gradual growth in years to come.

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

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tajikistan (+34.0%), while the prices for the other major destinations experienced a decline.

Metal Wool Imports

Imports into Uzbekistan

After two years of growth, supplies from abroad of iron or steel wool decreased by -9.8% to X tons in 2022. Overall, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 145%. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, metal wool imports soared to $X in 2022. In general, imports, however, saw a significant increase. The pace of growth appeared the most rapid in 2018 when imports increased by 94%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal wool to Uzbekistan, accounting for a 80% share of total imports. Moreover, metal wool imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), ninefold. The third position in this ranking was held by South Korea (X tons), with a 7.7% share.

From 2017 to 2022, the average annual growth rate of volume from China stood at +32.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+105.4% per year) and South Korea (+128.3% per year).

In value terms, China ($X), Turkey ($X) and South Korea ($X) constituted the largest metal wool suppliers to Uzbekistan, with a combined 82% share of total imports.

Turkey, with a CAGR of +112.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal wool import price amounted to $X per ton, rising by 43% against the previous year. Over the period from 2017 to 2022, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+37.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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