MENA: Silicates Market 2024

Silicates Market Size in MENA

In 2021, the MENA's silicates market increased by 2.4% to $X, rising for the fourth year in a row after two years of decline. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in the near future.

Silicates Production in MENA

In value terms, silicates production surged to $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +81.4% against 2017 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Silicates Exports

Exports in MENA

In 2021, after two years of decline, there was significant growth in shipments abroad of silicates, commercial alkali metal silicates, when their volume increased by 15% to X tons. Total exports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -25.0% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 50%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, silicates exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 19%. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

Exports by Country

Egypt was the main exporting country with an export of around X tons, which finished at 59% of total exports. Saudi Arabia (X tons) ranks second in terms of the total exports with a 23% share, followed by Iran (9.2%). The following exporters - Turkey (X tons) and the United Arab Emirates (X tons) - each accounted for a 6.6% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to silicates exports from Egypt stood at +10.8%. At the same time, Iran (+26.3%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in MENA, with a CAGR of +26.3% from 2012-2021. By contrast, the United Arab Emirates (-6.2%), Saudi Arabia (-7.5%) and Turkey (-10.3%) illustrated a downward trend over the same period. While the share of Egypt (+32 p.p.) and Iran (+8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-3.3 p.p.), Turkey (-6.8 p.p.) and Saudi Arabia (-29.4 p.p.) displayed negative dynamics.

In value terms, the largest silicates supplying countries in MENA were Egypt ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), together comprising 91% of total exports. These countries were followed by Iran and Turkey, which together accounted for a further 7.4%.

Among the main exporting countries, Iran, with a CAGR of +24.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, falling by -4.1% against the previous year. Export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silicates export price increased by +62.3% against 2017 indices. The most prominent rate of growth was recorded in 2020 an increase of 49%. As a result, the export price reached the peak level of $X per ton, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Iran ($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 (+11.7%), while the other leaders experienced mixed trends in the export price figures.

Silicates Imports

Imports in MENA

In 2021, supplies from abroad of silicates, commercial alkali metal silicates was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 32% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, silicates imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 42% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in years to come.

Imports by Country

Turkey represented the key importing country with an import of about X tons, which amounted to 34% of total imports. It was distantly followed by Algeria (X tons), Syrian Arab Republic (X tons), Yemen (X tons), Morocco (X tons) and Saudi Arabia (X tons), together making up a 38% share of total imports. Jordan (X tons), the United Arab Emirates (X tons), Djibouti (X tons), Oman (X tons), Israel (X tons), Libya (X tons) and Qatar (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +6.7% from 2012 to 2021. At the same time, Djibouti (+33.0%), Algeria (+9.1%), Libya (+8.2%), Morocco (+5.1%) and Syrian Arab Republic (+3.0%) displayed positive paces of growth. Moreover, Djibouti emerged as the fastest-growing importer imported in MENA, with a CAGR of +33.0% from 2012-2021. Saudi Arabia experienced a relatively flat trend pattern. By contrast, Qatar (-2.0%), Yemen (-4.1%), Israel (-4.6%), Jordan (-5.1%), Oman (-6.4%) and the United Arab Emirates (-10.8%) illustrated a downward trend over the same period. While the share of Turkey (+12 p.p.), Algeria (+6.9 p.p.) and Djibouti (+3.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Israel (-2 p.p.), Jordan (-3.1 p.p.), Oman (-3.7 p.p.), Yemen (-4.1 p.p.) and the United Arab Emirates (-7.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest silicates importing markets in MENA were Turkey ($X), Saudi Arabia ($X) and Algeria ($X), together comprising 56% of total imports. The United Arab Emirates, Morocco, Syrian Arab Republic, Yemen, Jordan, Israel, Libya, Djibouti, Oman and Qatar lagged somewhat behind, together comprising a further 34%.

Among the main importing countries, Djibouti, with a CAGR of +37.8%, recorded the highest growth rate of the value of imports, 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, rising by 8.7% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the import price increased by 28%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Yemen ($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 (+13.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform