MENA: Fluorspar Market 2024

Fluorspar Market Size in MENA

In 2021, the MENA's fluorspar market was finally on the rise to reach $X after two years of decline. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Fluorspar Production in MENA

In value terms, fluorspar production stood at $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 30%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Fluorspar Exports

Exports in MENA

In 2021, overseas shipments of fluorspar decreased by -8.5% to X tons, falling for the third year in a row after two years of growth. Overall, exports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2015 with an increase of 29% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, fluorspar exports shrank to $X in 2021. Over the period under review, exports recorded a noticeable slump. The pace of growth was the most pronounced in 2018 with an increase of 72% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Morocco was the main exporter of fluorspar in MENA, with the volume of exports accounting for X tons, which was approx. 68% of total exports in 2021. Iran (X tons) held the second position in the ranking, distantly followed by Turkey (X tons). All these countries together held approx. 29% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to fluorspar exports from Morocco stood at -3.7%. At the same time, Turkey (+42.1%) and the United Arab Emirates (+7.1%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of +42.1% from 2012-2021. By contrast, Iran (-1.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and Iran increased by +8.1 and +3.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Morocco ($X) remains the largest fluorspar supplier in MENA, comprising 67% of total exports. The second position in the ranking was held by Iran ($X), with a 19% share of total exports. It was followed by Turkey, with an 11% share.

In Morocco, fluorspar exports decreased by an average annual rate of -5.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Iran (-4.3% per year) and Turkey (+47.0% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, surging by 3.5% against the previous year. Overall, the export price, however, recorded a mild curtailment. The pace of growth was the most pronounced in 2018 an increase of 42% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Turkey ($X per ton) and the United Arab Emirates ($X per ton), while Iran ($X per ton) and Morocco ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.5%), while the other leaders experienced a decline in the export price figures.

Fluorspar Imports

Imports in MENA

In 2021, overseas purchases of fluorspar were finally on the rise to reach X tons after two years of decline. Overall, imports recorded a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fluorspar imports soared to $X in 2021. In general, imports saw a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey was the main importing country with an import of around X tons, which finished at 55% of total imports. It was distantly followed by the United Arab Emirates (X tons) and Tunisia (X tons), together generating a 39% share of total imports. Egypt (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +13.9% from 2012 to 2021. At the same time, the United Arab Emirates (+19.4%) and Egypt (+5.2%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +19.4% from 2012-2021. By contrast, Tunisia (-4.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and the United Arab Emirates increased by +24 and +14 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fluorspar importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Tunisia ($X), with a combined 92% share of total imports.

The United Arab Emirates, with a CAGR of +26.4%, saw the highest growth rate of the value of imports, among 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 2021, the import price in MENA amounted to $X per ton, with an increase of 10% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the import price increased by 26% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey ($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 (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform