Middle East: Metal Wool Market 2024

Metal Wool Market Size in the Middle East

In 2022, the Middle Eastern metal wool market decreased by X% to $X, falling for the second consecutive year after two years of growth. The total consumption indicated a temperate increase 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 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Metal Wool Production in the Middle East

In value terms, metal wool production dropped to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

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Metal Wool Exports

Exports in the Middle East

In 2022, shipments abroad of iron or steel wool increased by X% to X tons, rising for the second year in a row after four years of decline. In general, exports, however, continue to indicate a pronounced reduction. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, metal wool exports soared to $X in 2022. Overall, exports continue to indicate a slight increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates represented the largest exporter of iron or steel wool in the Middle East, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. Turkey (X tons) took the second position in the ranking, followed by Jordan (X tons). All these countries together held approx. X% share of total exports. The following exporters - Syrian Arab Republic (X tons), Lebanon (X tons), Kuwait (X tons) and Oman (X tons) - together made up X% of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%), Jordan (X%) and Lebanon (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Turkey (X%), Syrian Arab Republic (X%) and Oman (X%) illustrated a downward trend over the same period. While the share of Jordan (X p.p.), Lebanon (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Syrian Arab Republic (X p.p.), the United Arab Emirates (X p.p.), Turkey (X p.p.) and Oman (X p.p.) displayed negative dynamics.

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

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

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, surging by X% against the previous year. Export price indicated a pronounced 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, metal wool export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Metal Wool Imports

Imports in the Middle East

In 2022, the amount of iron or steel wool imported in the Middle East rose to X tons, with an increase of X% compared with 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 most prominent rate of growth was recorded in 2013 with an increase of 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 remained at a lower figure.

In value terms, metal wool imports contracted to $X in 2022. Total imports indicated a strong 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 most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) was the main importer of iron or steel wool, creating X% of total imports. Iraq (X tons) took the second position in the ranking, followed by the United Arab Emirates (X tons) and Turkey (X tons). All these countries together held approx. X% share of total imports. Oman (X tons), Israel (X tons) and Kuwait (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%) and Israel (X%) displayed positive paces of growth. By contrast, Turkey (X%), Kuwait (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. While the share of Saudi Arabia (X p.p.), Iraq (X p.p.), Kuwait (X p.p.) and Oman (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Turkey (X p.p.) and 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, Saudi Arabia ($X) constitutes the largest market for imported iron or steel wool in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Iraq ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia totaled X%. 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 the Middle East stood at $X per ton in 2022, declining by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared 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 failed to regain momentum.

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

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

Source: IndexBox Platform