MENA: Base Metal Keys Market 2025

Base Metal Keys Market Size in MENA

In 2022, the MENA's base metal keys market decreased by -11.4% to $X, falling for the fifth year in a row after two years of growth. Over the period under review, consumption continues to indicate a mild contraction. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Base Metal Keys Production in MENA

In value terms, base metal keys production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 40%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Base Metal Keys Exports

Exports in MENA

In 2022, exports of base metal keys in MENA dropped to X tons, shrinking by -9.2% on the year before. Overall, exports, however, saw prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 77% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, base metal keys exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of 61% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey dominates exports structure, reaching X tons, which was near 73% of total exports in 2022. It was distantly followed by Israel (X tons), Tunisia (X tons) and the United Arab Emirates (X tons), together creating a 23% share of total exports. Egypt (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to base metal keys exports from Turkey stood at +6.3%. At the same time, Egypt (+38.6%), Tunisia (+11.4%), Israel (+7.3%) and the United Arab Emirates (+4.4%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in MENA, with a CAGR of +38.6% from 2012-2022. While the share of Tunisia (+2.8 p.p.) and Egypt (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (-4.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest base metal keys supplier in MENA, comprising 48% of total exports. The second position in the ranking was held by Israel ($X), with a 21% share of total exports. It was followed by Tunisia, with a 20% share.

In Turkey, base metal keys exports expanded at an average annual rate of +11.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (+11.3% per year) and Tunisia (+11.7% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, picking up by 34% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. The growth pace was the most rapid in 2017 when the export price increased by 37% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Tunisia ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+5.2%), while the other leaders experienced more modest paces of growth.

Base Metal Keys Imports

Imports in MENA

In 2022, approx. X tons of base metal keys were imported in MENA; falling by -16.7% compared with the year before. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2013 when imports increased by 13%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, base metal keys imports shrank to $X in 2022. Overall, imports saw a slight descent. The growth pace was the most rapid in 2019 with an increase of 19% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The purchases of the five major importers of base metal keys, namely the United Arab Emirates, Algeria, Iran, Morocco and Turkey, represented more than half of total import. Tunisia (X tons) took the next position in the ranking, followed by Israel (X tons) and Yemen (X tons). All these countries together took approx. 16% share of total imports. Iraq (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Yemen (with a CAGR of +36.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), the United Arab Emirates ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 47% of total imports. Algeria, Morocco, Iran, Tunisia, Iraq and Yemen lagged somewhat behind, together comprising a further 33%.

Yemen, with a CAGR of +39.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, increasing by 5.1% against the previous year. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, base metal keys import price increased by +66.0% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 18%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform