Middle East: Metal Screw Hook Market 2024

Metal Screw Hook Market Size in the Middle East

In 2023, the Middle Eastern metal screw hook market was finally on the rise to reach $X for the first time since 2020, thus ending a two-year declining trend. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2023, the growth of the market failed to regain momentum.

Metal Screw Hook Production in the Middle East

In value terms, metal screw hook production dropped to $X in 2023 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2023, production growth remained at a somewhat lower figure.

Metal Screw Hook Exports

Exports in the Middle East

In 2023, exports of iron or steel screw hooks and screw rings in the Middle East dropped markedly to X tons, falling by X% compared with the previous year. Overall, exports saw a deep downturn. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2023, the growth of the exports remained at a lower figure.

In value terms, metal screw hook exports reduced remarkably to $X in 2023. Over the period under review, exports saw a pronounced contraction. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then reduced sharply in the following year.

Exports by Country

In 2023, Turkey (X tons) was the largest exporter of iron or steel screw hooks and screw rings, constituting X% of total exports. It was distantly followed by the United Arab Emirates (X tons), generating a X% share of total exports. Palestine (X tons), Oman (X tons), Jordan (X tons), Kuwait (X tons) and Israel (X tons) held a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to metal screw hook exports from Turkey stood at X%. At the same time, Jordan (X%), Oman (X%) and Palestine (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, the United Arab Emirates (X%), Kuwait (X%) and Israel (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.), Palestine (X p.p.), Oman (X p.p.) and Jordan (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Turkey (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Oman ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Jordan, Kuwait, Israel and Palestine lagged somewhat behind, together accounting for a further X%.

Jordan, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price continues to indicate a strong increase. The pace of growth appeared the most rapid in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2023 and is likely to see gradual growth in the near future.

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

Metal Screw Hook Imports

Imports in the Middle East

Metal screw hook imports soared to X tons in 2023, growing by X% compared with 2022 figures. In general, imports, however, showed a pronounced slump. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, metal screw hook imports soared to $X in 2023. Over the period under review, imports, however, showed a slight decline. The growth pace was the most rapid in 2016 with an increase of X%. The level of import peaked at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Saudi Arabia (X tons) was the major importer of iron or steel screw hooks and screw rings, constituting X% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a X% share, followed by Turkey (X%). Iran (X tons), Israel (X tons) and Iraq (X tons) followed a long way behind the leaders.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of imports of iron or steel screw hooks and screw rings. At the same time, Israel (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. Turkey experienced a relatively flat trend pattern. By contrast, Iran (X%) and Iraq (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Saudi Arabia (X p.p.), Turkey (X p.p.) and Israel (X p.p.) significantly strengthened its position in terms of the total imports, while Iran and Iraq saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, the largest metal screw hook importing markets in the Middle East were Saudi Arabia ($X), the United Arab Emirates ($X) and Turkey ($X), together comprising X% of total imports.

The United Arab Emirates, 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 mixed trends in the imports figures.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, falling by X% against the previous year. Import price indicated modest growth from 2012 to 2023: its price 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, metal screw hook import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2022 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced rapidly in the following year.

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

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

Source: IndexBox Platform