Saudi Arabia: Iron Angle Market 2024

Iron Angle Market Size in Saudi Arabia

The Saudi iron angle market stood at $X in 2023, remaining relatively unchanged against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Iron angle consumption peaked in 2023 and is expected to retain growth in years to come.

Iron Angle Production in Saudi Arabia

In value terms, iron angle production expanded markedly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a resilient increase. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Iron Angle Exports

Exports from Saudi Arabia

In 2023, approx. X tons of angles, shapes and sections (of iron or non-alloy steel) were exported from Saudi Arabia; jumping by X% compared with the previous year. Overall, exports recorded a perceptible increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, iron angle exports reached $X in 2023. Over the period under review, exports recorded a pronounced increase. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The exports peaked at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for iron angle exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, iron angle exports to the United Arab Emirates exceeded the volume sent to the second major destination, Oman (X tons), sixfold. Jordan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (X% per year) and Jordan (X% per year).

It was followed by Jordan, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (X% per year) and Jordan (X% per year).

Export Prices by Country

In 2023, the average iron angle export price amounted to $X per ton, declining by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2022, and then declined in the following year.

Average prices varied somewhat for the major export markets. In 2023, amid the top suppliers, the countries with the highest prices were Oman ($X per ton) and the United Arab Emirates ($X per ton), while the average price for exports to Jordan ($X per ton) and Egypt ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Angle Imports

Imports into Saudi Arabia

In 2023, approx. X tons of angles, shapes and sections (of iron or non-alloy steel) were imported into Saudi Arabia; stabilizing at the previous year. Over the period under review, imports saw a significant contraction. The pace of growth was the most pronounced in 2019 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, iron angle imports totaled $X in 2023. In general, imports saw a sharp setback. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Oman (X tons), the United Arab Emirates (X tons) and South Korea (X tons) were the main suppliers of iron angle imports to Saudi Arabia, together accounting for X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Oman (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, Oman ($X), the United Arab Emirates ($X) and Spain ($X) were the largest iron angle suppliers to Saudi Arabia, together accounting for X% of total imports.

Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2023, the average iron angle import price amounted to $X per ton, standing approx. at the previous year. Overall, the import price showed a slight expansion. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices hit record highs in 2023 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform