Saudi Arabia: Market for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers 2024

Market Size for Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers in Saudi Arabia

In 2020, the Saudi market for iron, steel or aluminium reservoirs, tanks, vats and similar containers decreased by X% to $X, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of X% over the period from 2012 to 2020; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Iron, steel or aluminium reservoir consumption peaked at $X in 2018; however, from 2019 to 2020, consumption failed to regain momentum.

Production of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers in Saudi Arabia

In value terms, iron, steel or aluminium reservoir production surged to $X in 2020 estimated in export price. In general, production enjoyed a buoyant expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Exports from Saudi Arabia

In 2020, shipments abroad of iron, steel or aluminium reservoirs, tanks, vats and similar containers decreased by X% to X units, falling for the second consecutive year after four years of growth. In general, exports, however, showed a mild expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2020, the exports stood at a somewhat lower figure.

In value terms, iron, steel or aluminium reservoir exports shrank rapidly to $X in 2020. Over the period under review, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2020, the exports stood at a somewhat lower figure.

Exports by Country

India (X units) was the main destination for iron, steel or aluminium reservoir exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, iron, steel or aluminium reservoir exports to India exceeded the volume sent to the second major destination, South Korea (X units), twofold. The third position in this ranking was held by Oman (X units), with an X% share.

From 2012 to 2020, the average annual rate of growth in terms of volume to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Oman (X% per year).

In value terms, Pakistan ($X), South Korea ($X) and Oman ($X) constituted the largest markets for iron, steel or aluminium reservoir exported from Saudi Arabia worldwide, together comprising X% of total exports.

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

Export Prices by Country

The average export price for iron, steel or aluminium reservoirs, tanks, vats and similar containers stood at $X per unit in 2020, surging by X% against the previous year. In general, export price indicated a tangible increase from 2012 to 2020: its price increased at an average annual rate of X% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, iron, steel or aluminium reservoir export price increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by X% against the previous year. The export price peaked in 2020 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2020, amid the top suppliers, the country with the highest price was Pakistan ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron, Steel Or Aluminium Reservoirs, Tanks, Vats And Similar Containers

Imports by Country

China (X units), the United Arab Emirates (X units) and Turkey (X units) were the main suppliers of iron, steel or aluminium reservoir imports to Saudi Arabia, with a combined X% share of total imports. Moreover, iron, steel or aluminium reservoir imports in China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates, fivefold.

From 2012 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron, steel or aluminium reservoir suppliers to Saudi Arabia were China ($X), the United Arab Emirates ($X) and the United States ($X), with a combined X% share of total imports. Germany, the UK, Spain, Turkey, South Korea, Italy, India, the Czech Republic, the Netherlands and South Africa lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, South Africa, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2019, the average import price for iron, steel or aluminium reservoirs, tanks, vats and similar containers amounted to less than $X per thousand units, remaining constant against the previous year. In general, the import price saw a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per thousand units), while the price for South Africa ($X per thousand units) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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