Middle East: Market for Iron or Steel Cans 2024

Market Size for Iron or Steel Cans in the Middle East

In 2022, the Middle Eastern iron or steel can market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, saw a slight shrinkage. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Iron or Steel Cans in the Middle East

In value terms, iron or steel can production fell remarkably to $X in 2022 estimated in export price. Over the period under review, production recorded a resilient expansion. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Iron or Steel Cans

Exports in the Middle East

In 2022, the amount of iron or steel cans exported in the Middle East rose significantly to X units, surging by X% compared with 2021. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel can exports soared to $X in 2022. Total exports 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, exports increased by X% against 2014 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey represented the largest exporter of iron or steel cans in the Middle East, with the volume of exports reaching X units, which was approx. X% of total exports in 2022. Saudi Arabia (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (X%). Jordan (X units) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the iron or steel cans exports, with a CAGR of X% from 2012 to 2022. At the same time, Jordan (X%) and the United Arab Emirates (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. Turkey (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest iron or steel can supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, rising 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 Jordan ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

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

Imports of Iron or Steel Cans

Imports in the Middle East

In 2022, approx. X units of iron or steel cans were imported in the Middle East; picking up by X% compared with the year before. In general, imports, however, continue to indicate a pronounced slump. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, iron or steel can imports skyrocketed to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Kuwait (X units) and the United Arab Emirates (X units) represented the key importers of iron or steel cans in 2022, reaching near X% and X% of total imports, respectively. Oman (X units) took the next position in the ranking, followed by Yemen (X units), Jordan (X units), Iraq (X units) and Bahrain (X units). All these countries together held approx. X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iraq (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest iron or steel can importing markets in the Middle East were the United Arab Emirates ($X), Kuwait ($X) and Oman ($X), together comprising X% of total imports. Bahrain, Jordan, Yemen and Iraq lagged somewhat behind, together accounting for a further X%.

Iraq, with a CAGR of X%, saw the highest growth rate of 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 unit in 2022, waning by 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 2014 an increase of X%. The level of import peaked at $X per unit in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X per unit), while Yemen ($X per unit) 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 more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :