Middle East: Aluminum Market 2024

Aluminum Market Size in the Middle East

In 2021, the Middle Eastern aluminum market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption recorded buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Aluminum Production in the Middle East

In value terms, aluminum production amounted to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -9.5% against 2018 indices. The growth pace was the most rapid in 2014 when the production volume increased by 29% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Aluminum Exports

Exports in the Middle East

In 2021, the amount of aluminum exported in the Middle East skyrocketed to X tons, increasing by 27% against the year before. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +39.1% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, aluminum exports soared to $X in 2021. In general, exports saw strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates was the main exporting country with an export of around X tons, which finished at 63% of total exports. Bahrain (X tons) ranks second in terms of the total exports with a 17% share, followed by Saudi Arabia (7.4%), Turkey (4.6%) and Oman (4.5%). Iran (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to aluminum exports from the United Arab Emirates stood at +7.5%. At the same time, Bahrain (+38.0%), Turkey (+23.6%), Saudi Arabia (+8.9%) and Iran (+1.3%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +38.0% from 2012-2021. By contrast, Oman (-3.3%) illustrated a downward trend over the same period. While the share of Bahrain (+15 p.p.) and Turkey (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Iran (-2.9 p.p.), the United Arab Emirates (-6.3 p.p.) and Oman (-8.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest aluminum supplier in the Middle East, comprising 66% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 14% share of total exports. It was followed by Saudi Arabia, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +8.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (+37.3% per year) and Saudi Arabia (+8.3% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, rising by 28% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Turkey ($X per ton) and Iran ($X per ton), while Saudi Arabia ($X per ton) and Bahrain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.3%), while the other leaders experienced more modest paces of growth.

Aluminum Imports

Imports in the Middle East

After two years of decline, purchases abroad of aluminum increased by 97% to X tons in 2021. Over the period under review, imports continue to indicate a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, aluminum imports surged to $X in 2021. Overall, imports recorded a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey prevails in imports structure, recording X tons, which was approx. 88% of total imports in 2021. It was distantly followed by Saudi Arabia (X tons), creating a 4.8% share of total imports. The following importers - the United Arab Emirates (X tons) and Israel (X tons) - each amounted to a 4.7% share of total imports.

Imports into Turkey increased at an average annual rate of +12.0% from 2012 to 2021. At the same time, the United Arab Emirates (+19.5%), Saudi Arabia (+17.9%) and Israel (+1.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +19.5% from 2012-2021. Turkey (+4.9 p.p.) and Saudi Arabia (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Israel saw its share reduced by -2.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported aluminum in the Middle East, comprising 88% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 4.9% share of total imports. It was followed by Israel, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +13.7%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+19.3% per year) and Israel (+2.7% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, jumping by 33% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Saudi Arabia ($X per ton) and Turkey ($X per ton), while the United Arab Emirates ($X per ton) and Israel ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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