Middle East: Base Metal Hinge Market 2024

Base Metal Hinge Market Size in the Middle East

The Middle Eastern base metal hinge market declined slightly to $X in 2023, almost unchanged from the previous year. Over the period under review, consumption, however, continues to indicate a resilient expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Base Metal Hinge Production in the Middle East

In value terms, base metal hinge production rose significantly to $X in 2023 estimated in export price. Overall, production, however, posted a resilient increase. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Base Metal Hinge Exports

Exports in the Middle East

In 2023, approx. X tons of base metal hinges were exported in the Middle East; growing by X% on the previous year's figure. Total exports indicated a temperate increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, base metal hinge exports expanded markedly to $X in 2023. Total exports indicated a strong expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2012 indices. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the near future.

Exports by Country

Turkey prevails in exports structure, amounting to X tons, which was near X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Turkey ($X) remains the largest base metal hinge supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey totaled X%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, increasing by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. The level of export peaked in 2023 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Base Metal Hinge Imports

Imports in the Middle East

In 2023, the amount of base metal hinges imported in the Middle East rose to X tons, picking up by X% against the previous year's figure. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, base metal hinge imports reduced modestly to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

The purchases of the five major importers of base metal hinges, namely the United Arab Emirates, Turkey, Saudi Arabia, Iraq and Iran, represented more than two-thirds of total import. Israel (X tons), Yemen (X tons), Jordan (X tons), Kuwait (X tons), Lebanon (X tons), Oman (X tons) and Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Oman (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Iraq ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports. Saudi Arabia, Iran, Israel, Kuwait, Jordan, Oman, Yemen, Qatar and Lebanon lagged somewhat behind, together accounting for a further X%.

Oman, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Jordan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform