Middle East: Market for Welded Link Chain Of Iron Or Steel 2024

Market Size for Welded Link Chain Of Iron Or Steel in the Middle East

In 2023, after two years of decline, there was growth in the Middle Eastern metal welded link chain market, when its value increased by X% to $X. Over the period under review, consumption recorded strong growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Production of Welded Link Chain Of Iron Or Steel in the Middle East

In value terms, metal welded link chain production dropped modestly to $X in 2023 estimated in export price. In general, production continues to indicate resilient growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Exports of Welded Link Chain Of Iron Or Steel

Exports in the Middle East

In 2023, overseas shipments of welded link chain of iron or steel increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, exports saw a buoyant increase. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are likely to see steady growth in years to come.

In value terms, metal welded link chain exports rose significantly to $X in 2023. Overall, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2023 and are likely to see gradual growth in the immediate term.

Exports by Country

Turkey prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2023. The United Arab Emirates (X tons) took a relatively small share of total exports.

Turkey was also the fastest-growing in terms of the welded link chain of iron or steel exports, with a CAGR of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. From 2012 to 2023, the share of Turkey increased by X percentage points.

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

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

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, recorded a mild decline. The growth pace was the most rapid in 2016 when the export price increased by X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey amounted to $X per ton.

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

Imports of Welded Link Chain Of Iron Or Steel

Imports in the Middle East

In 2023, the amount of welded link chain of iron or steel imported in the Middle East reached X tons, surging by X% against 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

In value terms, metal welded link chain imports expanded slightly to $X in 2023. Total imports indicated a slight expansion from 2012 to 2023: its value 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, imports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, the United Arab Emirates (X tons) represented the major importer of welded link chain of iron or steel, constituting X% of total imports. It was distantly followed by Turkey (X tons), Iran (X tons) and Iraq (X tons), together comprising a X% share of total imports. Israel (X tons), Qatar (X tons) and Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to metal welded link chain imports into the United Arab Emirates stood at X%. At the same time, Turkey (X%), Iraq (X%), Qatar (X%) and Israel (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. Kuwait experienced a relatively flat trend pattern. By contrast, Iran (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Turkey (X p.p.), Iraq (X p.p.) and Israel (X p.p.) significantly strengthened its position in terms of the total imports, while Iran saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

Iraq, 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 2023, remaining stable against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2021; afterwards, it flattened through to 2023.

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

From 2012 to 2023, 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