MENA: Thiosulphates Market 2024

Thiosulphates Market Size in MENA

The MENA's thiosulphates market surged to $X in 2021, increasing by 23% against the previous year. Over the period under review, consumption, however, continues to indicate a pronounced setback. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Thiosulphates Production in MENA

In value terms, thiosulphates production expanded sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when the production volume increased by 30% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Thiosulphates Exports

Exports in MENA

In 2021, after three years of decline, there was significant growth in overseas shipments of thiosulphates, when their volume increased by 79% to X tons. Over the period under review, exports, however, continue to indicate a deep contraction. The growth pace was the most rapid in 2017 when exports increased by 98%. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, thiosulphates exports surged to $X in 2021. Overall, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 70% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of thiosulphates, namely the United Arab Emirates, Turkey and Egypt, represented more than two-thirds of total export. It was distantly followed by Saudi Arabia (X tons), making up a 5.6% share of total exports. The following exporters - Oman (X tons) and Jordan (X tons) - each reached a 3.9% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Egypt (with a CAGR of +9.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Egypt ($X) were the countries with the highest levels of exports in 2021, together accounting for 89% of total exports.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of +10.0%, recorded the highest growth rate of 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 -16.3% 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. The most prominent rate of growth was recorded in 2014 an increase of 39%. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+5.3%), while the other leaders experienced more modest paces of growth.

Thiosulphates Imports

Imports in MENA

In 2021, approx. X tons of thiosulphates were imported in MENA; picking up by 22% against 2020 figures. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by 841% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, thiosulphates imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 204% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Turkey dominates imports structure, resulting at X tons, which was near 52% of total imports in 2021. Egypt (X tons) took an 8.8% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (6%), Jordan (5.6%), Oman (4.9%) and Kuwait (4.6%). The following importers - Iraq (X tons) and Tunisia (X tons) - each finished at an 8.1% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to thiosulphates imports into Turkey stood at +15.8%. At the same time, Iraq (+66.2%), Kuwait (+17.7%), Jordan (+3.1%) and Tunisia (+2.6%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of +66.2% from 2012-2021. Oman and the United Arab Emirates experienced a relatively flat trend pattern. By contrast, Egypt (-5.2%) illustrated a downward trend over the same period. While the share of Turkey (+39 p.p.), Iraq (+4.3 p.p.), Kuwait (+3.6 p.p.) and Jordan (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Egypt (-4.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported thiosulphates in MENA, comprising 46% of total imports. The second position in the ranking was taken by Kuwait ($X), with an 8.9% share of total imports. It was followed by Egypt, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +9.2%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+21.5% per year) and Egypt (-9.9% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, picking up by 23% against the previous year. Overall, the import price, however, showed a pronounced downturn. The most prominent rate of growth was recorded in 2020 an increase of 127% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a 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 Kuwait ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+3.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform