Jun 21, 2025IndexBox has just published a new report: GCC – Iron or Steel Wire Products – Market Analysis, Forecast, Size, Trends And Insights.Driven by increasing demand for iron and steel wire products, the GCC market is set to see continued growth over the next decade. Market performance is expected to expand at a slower rate, with a projected CAGR of +0.9% for volume and +2.2% for value from 2024 to 2035. By the end of 2035, the market volume is forecasted to reach 65K tons, with the market value expected to hit $185M.Market ForecastDriven by increasing demand for iron or steel wire products in GCC, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.9% for the period from 2024 to 2035, which is projected to bring the market volume to 65K tons by the end of 2035.In value terms, the market is forecast to increase with an anticipated CAGR of +2.2% for the period from 2024 to 2035, which is projected to bring the market value to $185M (in nominal wholesale prices) by the end of 2035.ConsumptionGCC’s Consumption of Iron or Steel Wire ProductsIn 2024, consumption of iron or steel wire products increased by 25% to 58K tons for the first time since 2020, thus ending a three-year declining trend. The total consumption indicated notable growth from 2013 to 2024: its volume increased at an average annual rate of +3.6% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of consumption peaked in 2024 and is expected to retain growth in years to come.The revenue of the market for iron or steel wire products in GCC expanded rapidly to $146M in 2024, picking up by 8.6% 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). The total consumption indicated a noticeable increase from 2013 to 2024: its value increased at an average annual rate of +3.5% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +146.3% against 2017 indices. Over the period under review, the market reached the peak level in 2024 and is expected to retain growth in the near future.Consumption By CountrySaudi Arabia (30K tons) remains the largest iron or steel wire product consuming country in GCC, comprising approx. 52% of total volume. Moreover, iron or steel wire product consumption in Saudi Arabia exceeded the figures recorded by the second-largest consumer, the United Arab Emirates (14K tons), twofold. Oman (7.9K tons) ranked third in terms of total consumption with a 14% share.From 2013 to 2024, the average annual growth rate of volume in Saudi Arabia am
