Jun 20, 2025IndexBox has just published a new report: GCC – Iron and Steel Wire – Market Analysis, Forecast, Size, Trends and Insights.The demand for iron and steel wire in the GCC region is expected to rise, leading to a projected increase in market volume to 368K tons and market value to $461M by the end of 2035. The market performance is forecasted to grow slightly with a CAGR of +0.5% in volume terms and +1.4% in value terms from 2024 to 2035.Market ForecastDriven by rising demand for iron and steel wire 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 +0.5% for the period from 2024 to 2035, which is projected to bring the market volume to 368K tons by the end of 2035.In value terms, the market is forecast to increase with an anticipated CAGR of +1.4% for the period from 2024 to 2035, which is projected to bring the market value to $461M (in nominal wholesale prices) by the end of 2035.ConsumptionGCC’s Consumption of Iron and Steel WireIn 2024, after four years of decline, there was growth in consumption of iron and steel wire, when its volume increased by 0.7% to 347K tons. Over the period under review, consumption, however, saw a slight setback. The volume of consumption peaked at 509K tons in 2019; however, from 2020 to 2024, consumption remained at a lower figure.The value of the iron and steel wire market in GCC shrank to $394M in 2024, dropping by -1.9% 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). Overall, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $600M in 2018; however, from 2019 to 2024, consumption stood at a somewhat lower figure.Consumption By CountrySaudi Arabia (212K tons) remains the largest iron and steel wire consuming country in GCC, accounting for 61% of total volume. Moreover, iron and steel wire consumption in Saudi Arabia exceeded the figures recorded by the second-largest consumer, Qatar (65K tons), threefold. The United Arab Emirates (28K tons) ranked third in terms of total consumption with an 8.1% share.In Saudi Arabia, iron and steel wire consumption remained relatively stable over the period from 2013-2024. In the other countries, the average annual rates were as follows: Qatar (+15.0% per year) and the United Arab Emirates (-8.4% per year).In value terms, Saudi Arabia ($199M) led the market, alone. The second position in the ranking was taken by Qatar ($89M). It was followed by the United Arab Emirates.In Saudi Arabia, the iron and steel wire market remained relatively stable over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of market growth: Qatar (+14.7% per year) and the United A
