MENA: Metal Wool Market 2024

Metal Wool Market Size in MENA

The MENA's metal wool market dropped to $X in 2022, reducing by X% against the previous year. The total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Metal Wool Production in MENA

In value terms, metal wool production reduced to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Metal Wool Exports

Exports in MENA

In 2022, overseas shipments of iron or steel wool increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, recorded a abrupt setback. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, metal wool exports surged to $X in 2022. Overall, exports, however, saw a noticeable reduction. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Egypt (X tons) and the United Arab Emirates (X tons) prevails in exports structure, together comprising X% of total exports. Turkey (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Jordan (X%). The following exporters - Syrian Arab Republic (X tons) and Lebanon (X tons) - each accounted for a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Jordan (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest metal wool supplying countries in MENA were Egypt ($X), the United Arab Emirates ($X) and Turkey ($X), together accounting for X% of total exports. Jordan, Lebanon and Syrian Arab Republic lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Jordan, with a CAGR of X%, 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 export price in MENA stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price, however, saw a resilient expansion. The pace of growth was the most pronounced in 2015 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced more modest paces of growth.

Metal Wool Imports

Imports in MENA

In 2022, approx. X tons of iron or steel wool were imported in MENA; picking up by X% on the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, metal wool imports stood at $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Saudi Arabia represented the key importer of iron or steel wool in MENA, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by Iraq (X tons), the United Arab Emirates (X tons), Turkey (X tons) and Morocco (X tons), together creating a X% share of total imports. Oman (X tons), Israel (X tons), Kuwait (X tons), Lebanon (X tons), Djibouti (X tons), Algeria (X tons), Yemen (X tons) and Qatar (X tons) followed a long way behind the leaders.

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, Iraq (X%), Oman (X%), Qatar (X%), Morocco (X%), Djibouti (X%), Yemen (X%) and Israel (X%) displayed positive paces of growth. By contrast, Turkey (X%), Lebanon (X%), Kuwait (X%), Algeria (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia, Iraq, Kuwait, Oman and Morocco increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Saudi Arabia, metal wool imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Iraq (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, reducing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Yemen (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform