MENA: Carbides Market 2024

Carbides Market Size in MENA

The MENA's carbides market stood at $X in 2022, remaining stable against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 9.6% against the previous year. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Carbides Production in MENA

In value terms, carbides production declined slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 9.2%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Carbides Exports

Exports in MENA

Carbides exports stood at X tons in 2022, increasing by 5.6% compared with the previous year's figure. In general, exports showed a temperate increase. The most prominent rate of growth was recorded in 2019 when exports increased by 71% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, carbides exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2013 with an increase of 246%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

Iran dominates exports structure, accounting for X tons, which was approx. 82% of total exports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 5.9% share, followed by Israel (5.1%). Turkey (X tons) followed a long way behind the leaders.

Exports from Iran increased at an average annual rate of +29.5% from 2012 to 2022. At the same time, Israel (+30.7%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in MENA, with a CAGR of +30.7% from 2012-2022. By contrast, the United Arab Emirates (-4.1%) and Turkey (-22.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Iran and Israel increased by +72 and +4.6 percentage points, respectively.

In value terms, the largest carbides supplying countries in MENA were Israel ($X), Iran ($X) and Turkey ($X), together accounting for 97% of total exports.

Israel, with a CAGR of +75.1%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, jumping by 47% against the previous year. In general, the export price continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2013 an increase of 203% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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 Israel ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+33.9%), while the other leaders experienced more modest paces of growth.

Carbides Imports

Imports in MENA

In 2022, imports of carbides in MENA reduced to X tons, which is down by -11.3% against the year before. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by 29%. Over the period under review, imports attained the maximum at X tons in 2021, and then fell in the following year.

In value terms, carbides imports surged to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 37%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Turkey (X tons) represented the main importer of carbides, mixing up 49% of total imports. It was distantly followed by the United Arab Emirates (X tons), Saudi Arabia (X tons) and Algeria (X tons), together generating a 27% share of total imports. Egypt (X tons), Qatar (X tons), Israel (X tons), Morocco (X tons), Iran (X tons), Oman (X tons) and Lebanon (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the carbides imports, with a CAGR of +16.4% from 2012 to 2022. At the same time, Israel (+5.8%), Algeria (+2.3%) and Qatar (+1.3%) displayed positive paces of growth. Lebanon experienced a relatively flat trend pattern. By contrast, Oman (-2.8%), the United Arab Emirates (-3.0%), Iran (-3.8%), Morocco (-5.2%), Saudi Arabia (-8.6%) and Egypt (-9.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey increased by +38 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported carbides in MENA, comprising 50% of total imports. The second position in the ranking was taken by Israel ($X), with a 15% share of total imports. It was followed by the United Arab Emirates, with a 9% share.

In Turkey, carbides imports expanded at an average annual rate of +16.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Israel (-7.9% per year) and the United Arab Emirates (+0.5% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, with an increase of 31% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform