GCC: Metal Wool Market 2024

Metal Wool Exports

Exports in GCC

In 2022, shipments abroad of iron or steel wool increased by X% to X tons, rising for the third year in a row after three years of decline. Over the period under review, exports, however, saw a perceptible decrease. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, metal wool exports surged to $X in 2022. Overall, exports continue to indicate a notable expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X tons, which was approx. X% of total exports in 2022. The following exporters - Kuwait (X tons), Oman (X tons) and Saudi Arabia (X tons) - each amounted to an X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to metal wool exports from the United Arab Emirates stood at X%. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. Saudi Arabia experienced a relatively flat trend pattern. By contrast, Oman (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while Oman saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest metal wool supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

In the United Arab Emirates, metal wool exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, flattening at the previous year. In general, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Metal Wool Imports

Imports in GCC

For the fourth consecutive year, GCC recorded growth in purchases abroad of iron or steel wool, which increased by X% to X tons in 2022. Over the period under review, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, metal wool imports reduced to $X in 2022. Overall, imports posted prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Saudi Arabia (X tons) represented the main importer of iron or steel wool, making up X% of total imports. The United Arab Emirates (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Oman (X%). The following importers - Kuwait (X tons) and Qatar (X tons) - together made up X% of total imports.

Saudi Arabia was also the fastest-growing in terms of the iron or steel wool imports, with a CAGR of X% from 2012 to 2022. At the same time, Oman (X%) and Qatar (X%) displayed positive paces of growth. By contrast, Kuwait (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. Saudi Arabia (X p.p.), Kuwait (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported iron or steel wool in GCC, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform