MENA: Stainless Steel Angle Market 2024

Stainless Steel Angle Market Size in MENA

The MENA's stainless steel angle market stood at $X in 2023, surging by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2023, the growth of the market remained at a lower figure.

Stainless Steel Angle Production in MENA

In value terms, stainless steel angle production rose significantly to $X in 2023 estimated in export price. Overall, production recorded a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Stainless Steel Angle Exports

Exports in MENA

In 2023, the amount of angles, shapes and sections of stainless steel or other alloy steel exported in MENA shrank remarkably to X tons, which is down by X% compared with the year before. In general, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, stainless steel angle exports reduced rapidly to $X in 2023. Overall, exports, however, continue to indicate a pronounced expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then shrank significantly in the following year.

Exports by Country

Turkey represented the major exporter of angles, shapes and sections of stainless steel or other alloy steel in MENA, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2023. Saudi Arabia (X tons) ranks second in terms of the total exports with a X% share, followed by Kuwait (X%) and the United Arab Emirates (X%). Libya (X tons) took a minor share of total exports.

Turkey was also the fastest-growing in terms of the angles, shapes and sections of stainless steel or other alloy steel exports, with a CAGR of X% from 2012 to 2023. At the same time, Kuwait (X%) and Libya (X%) displayed positive paces of growth. Saudi Arabia experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. Turkey (X p.p.) and Libya (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest stainless steel angle supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Turkey totaled X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, falling by X% against the previous year. In general, the export price recorded a mild contraction. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Libya (X%), while the other leaders experienced mixed trends in the export price figures.

Stainless Steel Angle Imports

Imports in MENA

In 2023, imports of angles, shapes and sections of stainless steel or other alloy steel in MENA dropped sharply to X tons, declining by X% compared with the year before. Overall, imports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2020 with an increase of X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

In value terms, stainless steel angle imports reduced dramatically to $X in 2023. In general, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

Lebanon was the key importing country with an import of about X tons, which amounted to X% of total imports. Turkey (X tons) took the second position in the ranking, followed by Kuwait (X tons) and the United Arab Emirates (X tons). All these countries together held near X% share of total imports. The following importers - Oman (X tons) and Qatar (X tons) - each reached a X% share of total imports.

Lebanon was also the fastest-growing in terms of the angles, shapes and sections of stainless steel or other alloy steel imports, with a CAGR of X% from 2012 to 2023. At the same time, Turkey (X%) displayed positive paces of growth. By contrast, Oman (X%), Qatar (X%), Kuwait (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Lebanon, Turkey and Oman increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest stainless steel angle importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Lebanon ($X), with a combined X% share of total imports.

In terms of the main importing countries, Lebanon, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, increasing by X% against the previous year. Overall, the import price saw a prominent increase. The growth pace was the most rapid in 2022 an increase of X%. The level of import peaked in 2023 and is expected to retain growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform