Bahrain: Aluminium Market 2024

Aluminium Market Size in Bahrain

In 2022, the Bahraini aluminium market increased by 67% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption recorded a significant expansion. Aluminium consumption peaked in 2022 and is expected to retain growth in the immediate term.

Aluminium Production in Bahrain

In value terms, aluminium production soared to $X in 2022 estimated in export price. Over the period under review, production showed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 516% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Aluminium Exports

Exports from Bahrain

In 2022, approx. X tons of aluminum (unwrought, not alloyed) were exported from Bahrain; with an increase of 17% against 2021 figures. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 795%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, aluminium exports skyrocketed to $X in 2022. Overall, exports recorded a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 628% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons), Malaysia (X tons) and Spain (X tons) were the main destinations of aluminium exports from Bahrain, together comprising 55% of total exports. China, South Korea, Italy, Japan, the United States, Taiwan (Chinese), Greece, Turkey and Montenegro lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +170.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for aluminium exported from Bahrain were the Netherlands ($X), Malaysia ($X) and Spain ($X), with a combined 50% share of total exports. South Korea, China, Italy, Japan, the United States, Greece, Taiwan (Chinese), Turkey and Montenegro lagged somewhat behind, together accounting for a further 40%.

The United States, with a CAGR of +176.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average aluminium export price amounted to $X per ton, increasing by 3.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 36%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Montenegro (+34.5%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Imports

Imports into Bahrain

In 2022, purchases abroad of aluminum (unwrought, not alloyed) was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports showed a significant expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 2,295% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, aluminium imports soared to $X in 2022. In general, imports recorded significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 1,947%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of aluminium to Bahrain, with a 70% share of total imports. Moreover, aluminium imports from India exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), sixfold. The third position in this ranking was taken by Oman (X tons), with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled +430.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+77.5% per year) and Oman (+21.3% per year).

In value terms, India ($X) constituted the largest supplier of aluminum (unwrought, not alloyed) to Bahrain, comprising 70% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 12% share of total imports. It was followed by Oman, with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +401.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+81.3% per year) and Oman (+23.5% per year).

Import Prices by Country

The average aluminium import price stood at $X per ton in 2022, surging by 11% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2021 an increase of 37%. The import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Saudi Arabia ($X per ton) and India ($X per ton), while the price for the United Arab Emirates ($X per ton) and Kazakhstan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform