MENA: Chromates Market 2024

Chromates Market Size in MENA

The MENA's chromates market skyrocketed to $X in 2022, increasing by 1,902% against the previous year. Over the period under review, consumption enjoyed a significant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Chromates Production in MENA

In value terms, chromates production declined dramatically to $X in 2022 estimated in export price. In general, production enjoyed perceptible growth. The growth pace was the most rapid in 2018 when the production volume increased by 349% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Chromates Exports

Exports in MENA

In 2022, overseas shipments of chromates, dichromates and peroxochromates increased by 272% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, exports saw measured growth. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, chromates exports soared to $X in 2022. Over the period under review, exports posted a resilient increase. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates represented the largest exporting country with an export of about X tons, which amounted to 74% of total exports. Turkey (X tons) ranks second in terms of the total exports with a 14% share, followed by Israel (9.6%).

Exports from the United Arab Emirates increased at an average annual rate of +9.1% from 2012 to 2022. At the same time, Turkey (+55.6%) and Israel (+21.5%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of +55.6% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates, Turkey and Israel increased by +34, +14 and +7.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) emerged as the largest chromates supplier in MENA, comprising 56% of total exports. The second position in the ranking was held by Turkey ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +10.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+44.9% per year) and Israel (+19.1% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, reducing by -28.4% against the previous year. In general, the export price, however, posted a resilient increase. The most prominent rate of growth was recorded in 2021 when the export price increased by 103% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell remarkably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.7%), while the other leaders experienced a decline in the export price figures.

Chromates Imports

Imports in MENA

In 2022, supplies from abroad of chromates, dichromates and peroxochromates decreased by -21.3% to X tons, falling for the second year in a row after two years of growth. In general, imports showed a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 50%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, chromates imports rose rapidly to $X in 2022. Overall, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by 37%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), Iran (X tons), Turkey (X tons), Egypt (X tons), Saudi Arabia (X tons), Yemen (X tons), Algeria (X tons) and Israel (X tons) represented roughly 94% of total imports in 2022.

From 2012 to 2022, the biggest increases were recorded for Yemen (with a CAGR of +40.8%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Iran ($X) were the countries with the highest levels of imports in 2022, with a combined 58% share of total imports. Saudi Arabia, Egypt, Israel, Algeria and Yemen lagged somewhat behind, together accounting for a further 33%.

In terms of the main importing countries, Yemen, with a CAGR of +20.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, with an increase of 35% against the previous year. Overall, the import price, however, saw a deep setback. The pace of growth was the most pronounced in 2015 when the import price increased by 78%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+6.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform