Middle East: Aluminium Hydroxide Market 2024

Aluminium Hydroxide Market Size in the Middle East

The Middle Eastern aluminium hydroxide market shrank modestly to $X in 2022, declining by -1.5% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Aluminium Hydroxide Production in the Middle East

In value terms, aluminium hydroxide production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 40% against the previous year. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Aluminium Hydroxide Exports

Exports in the Middle East

In 2022, aluminium hydroxide exports in the Middle East fell significantly to X tons, which is down by -19.5% against the previous year's figure. Overall, exports continue to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 269% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, aluminium hydroxide exports shrank notably to $X in 2022. In general, exports saw a noticeable descent. The most prominent rate of growth was recorded in 2019 when exports increased by 245% against the previous year. The level of export peaked at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Saudi Arabia was the key exporting country with an export of around X tons, which recorded 81% of total exports. Israel (X tons) held a 10% share (based on physical terms) of total exports, which put it in second place, followed by Bahrain (5.5%). The United Arab Emirates (X tons) took a minor share of total exports.

Exports from Saudi Arabia increased at an average annual rate of +60.5% from 2012 to 2022. At the same time, Bahrain (+267.5%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +267.5% from 2012-2022. By contrast, the United Arab Emirates (-5.2%) and Israel (-23.2%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+80 p.p.) and Bahrain (+5.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Israel (-84.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest aluminium hydroxide supplier in the Middle East, comprising 84% of total exports. The second position in the ranking was taken by Israel ($X), with a 12% share of total exports. It was followed by the United Arab Emirates, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia amounted to +56.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (-20.8% per year) and the United Arab Emirates (-4.5% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, falling by -11.9% against the previous year. Export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium hydroxide export price decreased by -20.7% against 2020 indices. The pace of growth was the most pronounced in 2020 an increase of 28%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, 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 Israel ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Aluminium Hydroxide Imports

Imports in the Middle East

In 2022, approx. X tons of aluminium hydroxide were imported in the Middle East; with a decrease of -12% on 2021. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -35.1% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 52% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, aluminium hydroxide imports shrank modestly to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +5.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 27%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Turkey prevails in imports structure, amounting to X tons, which was near 87% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), making up a 6.8% share of total imports. The following importers - Jordan (X tons) and Iran (X tons) - each recorded a 3.5% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to aluminium hydroxide imports into Turkey stood at +11.7%. At the same time, Jordan (+50.2%) and the United Arab Emirates (+11.1%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +50.2% from 2012-2022. By contrast, Iran (-1.6%) illustrated a downward trend over the same period. While the share of Turkey (+34 p.p.), the United Arab Emirates (+2.4 p.p.) and Jordan (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Iran (-1.9 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) constitutes the largest market for imported aluminium hydroxide in the Middle East, comprising 78% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Jordan, with a 3.8% share.

In Turkey, aluminium hydroxide imports expanded at an average annual rate of +10.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+11.5% per year) and Jordan (+25.2% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, rising by 8.5% against the previous year. In general, the import price, however, continues to indicate a mild slump. The most prominent rate of growth was recorded in 2015 an increase of 12%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Jordan ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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