Middle East: Bauxite Market 2024

Bauxite Market Size in the Middle East

The Middle Eastern bauxite market was estimated at $X in 2022, flattening at the previous year. Overall, consumption posted a strong increase. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Bauxite Production in the Middle East

In value terms, bauxite production fell to $X in 2022 estimated in export price. Over the period under review, production enjoyed a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 99% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Bauxite Exports

Exports in the Middle East

In 2022, the amount of bauxite exported in the Middle East expanded remarkably to X tons, picking up by 12% on 2021. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 81%. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, bauxite exports skyrocketed to $X in 2022. In general, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 116% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

The biggest shipments were from Turkey (X tons), together finishing at 99% of total export.

Turkey was also the fastest-growing in terms of the bauxite exports, with a CAGR of +28.6% from 2012 to 2022. Turkey (+15 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest bauxite supplier in the Middle East.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to +28.7%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, jumping by 17% against the previous year. In general, the export price, however, recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2014 when the export price increased by 55%. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to 0.0% per year.

Bauxite Imports

Imports in the Middle East

Bauxite imports was estimated at X tons in 2022, approximately reflecting 2021. In general, imports, however, saw a perceptible reduction. The pace of growth appeared the most rapid in 2013 with an increase of 58%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, bauxite imports soared to $X in 2022. Over the period under review, imports, however, saw a abrupt setback. The pace of growth was the most pronounced in 2013 with an increase of 40% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Bahrain represented the main importer of bauxite in the Middle East, with the volume of imports finishing at X tons, which was near 59% of total imports in 2022. Turkey (X tons) took the second position in the ranking, distantly followed by Oman (X tons). All these countries together took near 31% share of total imports. The following importers - Israel (X tons) and Qatar (X tons) - each amounted to a 6.2% share of total imports.

Imports into Bahrain decreased at an average annual rate of -3.8% from 2012 to 2022. At the same time, Israel (+43.5%) and Turkey (+9.2%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +43.5% from 2012-2022. By contrast, Oman (-3.5%) and Qatar (-18.9%) illustrated a downward trend over the same period. While the share of Turkey (+20 p.p.), Bahrain (+6.3 p.p.) and Israel (+3.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (-12 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported bauxite in the Middle East, comprising 64% of total imports. The second position in the ranking was held by Bahrain ($X), with a 19% share of total imports. It was followed by Israel, with a 6.5% share.

In Turkey, bauxite imports expanded at an average annual rate of +10.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bahrain (-17.8% per year) and Israel (+44.2% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, rising by 33% against the previous year. Overall, the import price, however, continues to indicate a perceptible curtailment. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 ($X per ton), while Qatar ($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 (+1.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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