MENA: Sulphur Market 2024

Sulphur Market Size in MENA

In 2021, the MENA's sulphur market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Sulphur Production in MENA

In value terms, sulphur production rose slightly to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 23%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Sulphur Exports

Exports in MENA

In 2021, approx. X tons of sulphur (sublimed or precipitated) and colloidal sulphur were exported in MENA; increasing by 9% compared with the previous year. Over the period under review, exports posted a buoyant increase. The pace of growth was the most pronounced in 2014 with an increase of 443%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, sulphur exports contracted slightly to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 202% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Iran was the major exporting country with an export of about X tons, which amounted to 85% of total exports. It was distantly followed by the United Arab Emirates (X tons), generating a 10% share of total exports. Bahrain (X tons) held a little share of total exports.

Iran was also the fastest-growing in terms of the sulphur (sublimed or precipitated) and colloidal sulphur exports, with a CAGR of +22.5% from 2012 to 2021. At the same time, Bahrain (+20.8%) and the United Arab Emirates (+1.2%) displayed positive paces of growth. From 2012 to 2021, the share of Iran increased by +32 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sulphur supplying countries in MENA were Iran ($X), Bahrain ($X) and the United Arab Emirates ($X), together comprising 68% of total exports.

In terms of the main exporting countries, Bahrain, with a CAGR of +12.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, waning by -10.7% against the previous year. In general, the export price saw a abrupt descent. The pace of growth appeared the most rapid in 2013 when the export price increased by 57%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (-6.7%), while the other leaders experienced a decline in the export price figures.

Sulphur Imports

Imports in MENA

In 2021, approx. X tons of sulphur (sublimed or precipitated) and colloidal sulphur were imported in MENA; with an increase of 55% against 2020 figures. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, sulphur imports surged to $X in 2021. Overall, imports, however, recorded a perceptible contraction. The growth pace was the most rapid in 2017 with an increase of 39%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Algeria was the key importer of sulphur (sublimed or precipitated) and colloidal sulphur in MENA, with the volume of imports recording X tons, which was approx. 49% of total imports in 2021. Egypt (X tons) took a 24% share (based on physical terms) of total imports, which put it in second place, followed by Tunisia (8%), Israel (6%), the United Arab Emirates (5.8%) and Syrian Arab Republic (5.5%).

Imports into Algeria increased at an average annual rate of +30.1% from 2012 to 2021. At the same time, Syrian Arab Republic (+46.5%), Tunisia (+29.0%), Israel (+24.8%), the United Arab Emirates (+19.8%) and Egypt (+14.7%) displayed positive paces of growth. Moreover, Syrian Arab Republic emerged as the fastest-growing importer imported in MENA, with a CAGR of +46.5% from 2012-2021. While the share of Algeria (+40 p.p.), Egypt (+11 p.p.), Tunisia (+6.5 p.p.), Syrian Arab Republic (+5.1 p.p.), Israel (+4.5 p.p.) and the United Arab Emirates (+3.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sulphur importing markets in MENA were Algeria ($X), Egypt ($X) and Tunisia ($X), together accounting for 76% of total imports. These countries were followed by Israel, the United Arab Emirates and Syrian Arab Republic, which together accounted for a further 20%.

In terms of the main importing countries, Syrian Arab Republic, with a CAGR of +38.0%, recorded the highest rates of growth with regard to 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, waning by -19.7% against the previous year. Overall, the import price recorded a drastic downturn. The pace of growth was the most pronounced in 2017 when the import price increased by 45%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 Tunisia ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+1.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform