Middle East: Nail And Bolt Market 2024

Nail And Bolt Market Size in the Middle East

In 2022, the Middle Eastern nail and bolt market was finally on the rise to reach $X for the first time since 2015, thus ending a six-year declining trend. In general, consumption, however, showed a noticeable curtailment. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Nail And Bolt Production in the Middle East

In value terms, nail and bolt production shrank sharply to $X in 2022 estimated in export price. Over the period under review, production showed a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Nail And Bolt Exports

Exports in the Middle East

In 2022, nail and bolt exports in the Middle East reached X tons, surging by X% against the year before. In general, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, nail and bolt exports surged to $X in 2022. Overall, exports saw buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Turkey represented the largest exporter of nails, tacks, staples, screws and bolts in the Middle East, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. The United Arab Emirates (X tons) took the second position in the ranking, followed by Oman (X tons). All these countries together took near X% share of total exports. Saudi Arabia (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to nail and bolt exports from Turkey stood at X%. At the same time, Oman (X%), Saudi Arabia (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. While the share of Oman (X p.p.) and Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest nail and bolt supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Oman (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export 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 suppliers, 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 Oman (X%), while the other leaders experienced more modest paces of growth.

Nail And Bolt Imports

Imports in the Middle East

In 2022, overseas purchases of nails, tacks, staples, screws and bolts were finally on the rise to reach X tons after six years of decline. Over the period under review, imports, however, saw a relatively flat trend pattern. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, nail and bolt imports surged to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of nail and bolt imports in 2022 were the United Arab Emirates (X tons), Saudi Arabia (X tons) and Turkey (X tons), together amounting to X% of total import. Iraq (X tons) ranks next in terms of the total imports with an X% share, followed by Kuwait (X%) and Israel (X%). Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nail and bolt importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined X% share of total imports. Israel, Kuwait, Iraq and Oman lagged somewhat behind, together comprising a further X%.

Kuwait, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 Iraq (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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