GCC: Roasted Iron Pyrites Market 2024

Roasted Iron Pyrites Market Size in GCC

In 2021, the GCC roasted iron pyrites market decreased by -2.5% to $X for the first time since 2011, thus ending a nine-year rising trend. Over the period under review, consumption, however, recorded significant growth. The level of consumption peaked at $X in 2020, and then fell modestly in the following year.

Roasted Iron Pyrites Production in GCC

In value terms, roasted iron pyrites production declined slightly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a measured expansion. The most prominent rate of growth was recorded in 2015 with an increase of 129%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Roasted Iron Pyrites Exports

Exports in GCC

In 2021, the amount of roasted iron pyrites exported in GCC contracted remarkably to X tons, dropping by -91.3% compared with 2020 figures. Over the period under review, exports faced a sharp downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 2,437% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, roasted iron pyrites exports declined sharply to $X in 2021. Overall, exports continue to indicate a sharp slump. The growth pace was the most rapid in 2016 with an increase of 410% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Oman was the major exporter of roasted iron pyrites in GCC, with the volume of exports amounting to X tons, which was near 71% of total exports in 2021. It was distantly followed by the United Arab Emirates (X kg), constituting a 29% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to roasted iron pyrites exports from Oman stood at -54.5%. The United Arab Emirates (-19.4%) illustrated a downward trend over the same period. Oman (+71 p.p.) and the United Arab Emirates (+29 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 ($X) remains the largest roasted iron pyrites supplier in GCC, comprising 95% of total exports. The second position in the ranking was held by Oman ($X), with a 4.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates amounted to -5.7%.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, jumping by 162% against the previous year. In general, the export price continues to indicate a significant increase. The most prominent rate of growth was recorded in 2018 an increase of 2,501% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: 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 (+17.0%).

Roasted Iron Pyrites Imports

Imports in GCC

In 2021, purchases abroad of roasted iron pyrites increased by 12% to X tons, rising for the fifth consecutive year after three years of decline. In general, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of 524%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, roasted iron pyrites imports declined to $X in 2021. Overall, imports, however, showed a deep reduction. The growth pace was the most rapid in 2013 with an increase of 133% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Kuwait dominates imports structure, resulting at X tons, which was near 93% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), mixing up a 7% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to roasted iron pyrites imports into Kuwait stood at -12.2%. At the same time, the United Arab Emirates (+39.3%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of +39.3% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates increased by +6.9 percentage points.

In value terms, Kuwait ($X) constitutes the largest market for imported roasted iron pyrites in GCC, comprising 94% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 5.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Kuwait amounted to -19.8%.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, shrinking by -20% against the previous year. Over the period under review, the import price continues to indicate a deep setback. The growth pace was the most rapid in 2014 when the import price increased by 446%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (-8.7%).

Source: IndexBox Platform