Middle East: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in the Middle East

The Middle Eastern cold-rolled steel products market rose significantly to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Cold-Rolled Steel Products Production in the Middle East

In value terms, cold-rolled steel products production rose notably to $X in 2022 estimated in export price. The total production 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, production increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. The level of production peaked in 2022 and is expected to retain growth in the near future.

Cold-Rolled Steel Products Exports

Exports in the Middle East

In 2022, cold-rolled steel products exports in the Middle East shrank to X tons, falling by X% against 2021 figures. Total exports indicated a pronounced expansion from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, cold-rolled steel products exports expanded rapidly to $X in 2022. Over the period under review, exports, however, posted a remarkable increase. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Turkey (X tons) represented roughly X% of total exports in 2022.

Turkey was also the fastest-growing in terms of the flat-rolled products of iron or steel (not further worked than cold-rolled) exports, with a CAGR of X% from 2012 to 2022. While the share of Turkey (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest cold-rolled steel products supplier in the Middle East.

From 2012 to 2022, the average annual growth rate of value in Turkey totaled X%.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, growing by X% against the previous year. Export price indicated a remarkable increase from 2012 to 2022: its price 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, cold-rolled steel products export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see gradual growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to X% per year.

Cold-Rolled Steel Products Imports

Imports in the Middle East

In 2022, overseas purchases of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by X% to X tons, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by X%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, cold-rolled steel products imports skyrocketed to $X in 2022. Total imports indicated a notable 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 increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Turkey was the major importing country with an import of around X tons, which amounted to X% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a X% share, followed by Jordan (X%), Saudi Arabia (X%) and Iran (X%). Iraq (X tons) and Israel (X tons) held a little share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%), Jordan (X%) and Iraq (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. Israel experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) and Iran (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), the United Arab Emirates (X p.p.) and Jordan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (X p.p.) and Iran (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than cold-rolled) in the Middle East, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Iran, with a X% share.

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

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, picking up by X% against the previous year. Import price indicated noticeable growth from 2012 to 2022: its price 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, cold-rolled steel products import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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