MENA: Market for Zirconium Ores and Concentrates 2024

Market Size for Zirconium Ores and Concentrates in MENA

In 2022, after three years of growth, there was decline in the MENA's zirconium ore and concentrate market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2021, and then shrank modestly in the following year.

Production of Zirconium Ores and Concentrates in MENA

In value terms, zirconium ore and concentrate production soared to $X in 2022 estimated in export price. Overall, production showed a significant increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Zirconium Ores and Concentrates

Exports in MENA

For the fifth year in a row, MENA recorded growth in shipments abroad of zirconium ores and concentrates, which increased by X% to X tons in 2022. Overall, exports, however, showed a noticeable downturn. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, zirconium ore and concentrate exports soared to $X in 2022. In general, exports enjoyed a slight increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Turkey (X tons) was the key exporter of zirconium ores and concentrates, making up X% of total exports. Egypt (X tons) took the second position in the ranking, distantly followed by Yemen (X tons) and the United Arab Emirates (X tons). All these countries together took near X% share of total exports. Saudi Arabia (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to zirconium ore and concentrate exports from Turkey stood at X%. At the same time, Egypt (X.6%), Yemen (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in MENA, with a CAGR of X.6% from 2012-2022. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), Egypt (X p.p.), Yemen (X p.p.) and Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) emerged as the largest zirconium ore and concentrate supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Egypt ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Egypt (X.1% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, jumping by X% against the previous year. In general, the export price recorded buoyant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, 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 Egypt (X%), while the other leaders experienced more modest paces of growth.

Imports of Zirconium Ores and Concentrates

Imports in MENA

In 2022, after three years of growth, there was significant decline in supplies from abroad of zirconium ores and concentrates, when their volume decreased by X% to X tons. Total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2015 with an increase of X%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, zirconium ore and concentrate imports rose notably to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Iran (X tons) and Turkey (X tons) were the key importers of zirconium ores and concentrates in 2022, reaching approx. X% and X% of total imports, respectively. Saudi Arabia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (X%). Algeria (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iran (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Iran ($X) and Saudi Arabia ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Turkey, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price, however, showed a pronounced setback. The pace of growth was the most pronounced in 2018 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform