GCC's Aluminium Alloy Tube Market to Witness Slight Growth with CAGR of +0.8% from 2024 to 2035, Reaching $221M by end of 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: GCC - Aluminium Alloy Tubes And Pipes - Market Analysis, Forecast, Size, Trends And Insights.

The market for aluminium alloy tube in the GCC is expected to experience a slight increase in performance, with a projected CAGR of +0.8% in volume and +2.9% in value from 2024 to 2035. This growth is fueled by rising demand and is anticipated to bring significant growth opportunities over the next decade.

Driven by rising demand for aluminium alloy tube in GCC, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.8% for the period from 2024 to 2035, which is projected to bring the market volume to 4.8K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2024 to 2035, which is projected to bring the market value to $221M (in nominal wholesale prices) by the end of 2035.

For the third year in a row, GCC recorded growth in consumption of aluminium alloy tubes and pipes, which increased by 2.3% to 4.4K tons in 2024. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak volume of 7.3K tons. From 2015 to 2024, the growth of the consumption remained at a somewhat lower figure.

The revenue of the aluminium alloy tube market in GCC surged to $161M in 2024, rising by 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a resilient expansion. Over the period under review, the market hit record highs in 2024 and is likely to see steady growth in the immediate term.

The country with the largest volume of aluminium alloy tube consumption was the United Arab Emirates (2.4K tons), comprising approx. 55% of total volume. Moreover, aluminium alloy tube consumption in the United Arab Emirates exceeded the figures recorded by the second-largest consumer, Kuwait (817 tons), threefold. Saudi Arabia (602 tons) ranked third in terms of total consumption with a 14% share.

From 2013 to 2024, the average annual rate of growth in terms of volume in the United Arab Emirates amounted to +2.1%. In the other countries, the average annual rates were as follows: Kuwait (+2.0% per year) and Saudi Arabia (-9.0% per year).

In value terms, Qatar ($139M) led the market, alone. The second position in the ranking was held by the United Arab Emirates ($12M). It was followed by Kuwait.

In Qatar, the aluminium alloy tube market increased at an average annual rate of +55.0% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of market growth: the United Arab Emirates (+2.4% per year) and Kuwait (+2.7% per year).

The countries with the highest levels of aluminium alloy tube per capita consumption in 2024 were the United Arab Emirates (238 kg per 1000 persons), Kuwait (183 kg per 1000 persons) and Bahrain (169 kg per 1000 persons).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by the United Arab Emirates (with a CAGR of +1.1%), while consumption for the other leaders experienced a decline in the per capita consumption figures.

In 2024, the amount of aluminium alloy tubes and pipes produced in GCC declined to 4.4K tons, which is down by -5.2% compared with 2023 figures. The total production indicated a prominent increase from 2013 to 2024: its volume increased at an average annual rate of +5.5% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production increased by +89.4% against 2014 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 30%. The volume of production peaked at 4.6K tons in 2023, and then dropped in the following year.

In value terms, aluminium alloy tube production declined to $23M in 2024 estimated in export price. Overall, production, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when the production volume increased by 28%. The level of production peaked at $25M in 2023, and then contracted slightly in the following year.

The United Arab Emirates (3.1K tons) constituted the country with the largest volume of aluminium alloy tube production, accounting for 70% of total volume. Moreover, aluminium alloy tube production in the United Arab Emirates exceeded the figures recorded by the second-largest producer, Kuwait (785 tons), fourfold. Bahrain (306 tons) ranked third in terms of total production with a 7% share.

From 2013 to 2024, the average annual rate of growth in terms of volume in the United Arab Emirates stood at +6.4%. The remaining producing countries recorded the following average annual rates of production growth: Kuwait (+2.0% per year) and Bahrain (+2.4% per year).

In 2024, approx. 1.7K tons of aluminium alloy tubes and pipes were imported in GCC; rising by 29% compared with 2023 figures. In general, imports, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2014 with an increase of 105%. As a result, imports reached the peak of 5.6K tons. From 2015 to 2024, the growth of imports remained at a lower figure.

In value terms, aluminium alloy tube imports skyrocketed to $13M in 2024. Overall, imports showed a mild expansion. The growth pace was the most rapid in 2014 when imports increased by 161%. As a result, imports reached the peak of $29M. From 2015 to 2024, the growth of imports failed to regain momentum.

In 2024, the United Arab Emirates (982 tons) represented the main importer of aluminium alloy tubes and pipes, committing 59% of total imports. It was distantly followed by Saudi Arabia (605 tons), generating a 37% share of total imports. The following importers - Kuwait (35 tons) and Oman (29 tons) - each recorded a 3.9% share of total imports.

From 2013 to 2024, the biggest increases were recorded for Kuwait (with a CAGR of +4.2%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest aluminium alloy tube importing markets in GCC were the United Arab Emirates ($6.5M), Saudi Arabia ($4.8M) and Kuwait ($387K), with a combined 93% share of total imports.

The United Arab Emirates, with a CAGR of +4.0%, recorded the highest rates of growth with regard to 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.

In 2024, the import price in GCC amounted to $7,586 per ton, surging by 7% against the previous year. Import price indicated a buoyant increase from 2013 to 2024: its price increased at an average annual rate of +5.9% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, aluminium alloy tube import price increased by +80.1% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the import price increased by 36%. The level of import peaked in 2024 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Kuwait ($10,997 per ton), while the United Arab Emirates ($6,626 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+9.9%), while the other leaders experienced more modest paces of growth.

In 2024, shipments abroad of aluminium alloy tubes and pipes was finally on the rise to reach 1.6K tons for the first time since 2021, thus ending a two-year declining trend. In general, exports continue to indicate a strong increase. The growth pace was the most rapid in 2015 with an increase of 88%. Over the period under review, the exports hit record highs at 2K tons in 2021; however, from 2022 to 2024, the exports remained at a lower figure.

In value terms, aluminium alloy tube exports expanded modestly to $9.7M in 2024. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 85% against the previous year. Over the period under review, the exports attained the peak figure at $10M in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

In 2024, the United Arab Emirates (1.6K tons) was the major exporter of aluminium alloy tubes and pipes in GCC, mixing up 99% of total export.

The United Arab Emirates was also the fastest-growing in terms of the aluminium alloy tubes and pipes exports, with a CAGR of +15.1% from 2013 to 2024. While the share of the United Arab Emirates (+3.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($9.6M) also remains the largest aluminium alloy tube supplier in GCC.

In the United Arab Emirates, aluminium alloy tube exports expanded at an average annual rate of +14.6% over the period from 2013-2024.

The export price in GCC stood at $5,874 per ton in 2024, stabilizing at the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 37% against the previous year. The level of export peaked at $6,114 per ton in 2013; however, from 2014 to 2024, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2013 to 2024, the rate of growth in terms of prices for the United Arab Emirates amounted to -0.5% per year.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the aluminium alloy tube market in GCC. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Export

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles

The Largest Markets And Their Profiles