GCC: Articles Of Zinc Market 2024

Articles Of Zinc Market Size in GCC

The GCC articles of zinc market expanded remarkably to $X in 2021, increasing by 9.6% against the previous year. Overall, consumption recorded a resilient increase. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2021.

Articles Of Zinc Production in GCC

In value terms, articles of zinc production skyrocketed to $X in 2021 estimated in export price. In general, production posted a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 117% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Articles Of Zinc Exports

Exports in GCC

In 2021, shipments abroad of articles of zinc decreased by -27.8% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 559%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, articles of zinc exports shrank to $X in 2021. In general, exports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 407% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, the United Arab Emirates (X tons) was the major exporter of articles of zinc, constituting 87% of total exports. It was distantly followed by Oman (X tons), comprising an 11% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +2.0% from 2012 to 2021. At the same time, Oman (+65.5%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +65.5% from 2012-2021. The United Arab Emirates (+19 p.p.) and Oman (+11 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest articles of zinc supplier in GCC, comprising 91% of total exports. The second position in the ranking was taken by Oman ($X), with an 8.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled +9.8%.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, rising by 27% against the previous year. Export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, articles of zinc export price increased by +85.0% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 48%. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.6%).

Articles Of Zinc Imports

Imports in GCC

After two years of growth, overseas purchases of articles of zinc decreased by -30.1% to X tons in 2021. Overall, imports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 88% against the previous year. The volume of import peaked at X tons in 2020, and then contracted rapidly in the following year.

In value terms, articles of zinc imports contracted significantly to $X in 2021. Over the period under review, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 65%. As a result, imports attained the peak of $X, and then fell notably in the following year.

Imports by Country

In 2021, Oman (X tons), distantly followed by Saudi Arabia (X tons), Bahrain (X tons), Qatar (X tons) and the United Arab Emirates (X tons) were the largest importers of articles of zinc, together committing 98% of total imports. Kuwait (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bahrain (with a CAGR of +51.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Oman ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 80% share of total imports.

In terms of the main importing countries, Oman, with a CAGR of +41.4%, saw the highest growth rate of 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 2021, the import price in GCC amounted to $X per ton, rising by 7.9% against the previous year. Overall, the import price, however, continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2019 an increase of 12% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform