MENA: Market for Ferro-Cerium And Pyrophoric Alloys 2024

Market Size for Ferro-Cerium And Pyrophoric Alloys in MENA

The MENA's ferro-cerium and pyrophoric alloys market reduced slightly to $X in 2021, declining by -3.7% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Ferro-Cerium And Pyrophoric Alloys in MENA

In value terms, ferro-cerium and pyrophoric alloys production shrank slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 20%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Ferro-Cerium And Pyrophoric Alloys

Exports in MENA

In 2021, shipments abroad of ferro-cerium and pyrophoric alloys was finally on the rise to reach X tons after three years of decline. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 197%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, ferro-cerium and pyrophoric alloys exports totaled $X in 2021. Overall, exports showed a measured increase. The pace of growth appeared the most rapid in 2015 when exports increased by 200% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey represented the largest exporting country with an export of about X tons, which amounted to 69% of total exports. It was distantly followed by the United Arab Emirates (X tons), mixing up a 26% share of total exports. The following exporters - Iran (X tons) and Jordan (X tons) - each finished at a 3.7% share of total exports.

Exports from Turkey increased at an average annual rate of +3.3% from 2012 to 2021. At the same time, Jordan (+25.7%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in MENA, with a CAGR of +25.7% from 2012-2021. By contrast, the United Arab Emirates (-2.6%) and Iran (-6.0%) illustrated a downward trend over the same period. While the share of Turkey (+15 p.p.) and Jordan (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Iran (-1.7 p.p.) and the United Arab Emirates (-8.9 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest ferro-cerium and pyrophoric alloys supplier in MENA, comprising 66% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 29% share of total exports. It was followed by Jordan, with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey totaled +3.6%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+0.0% per year) and Jordan (+28.8% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, approximately equating the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2020 when the export price increased by 24% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.7%), while the other leaders experienced more modest paces of growth.

Imports of Ferro-Cerium And Pyrophoric Alloys

Imports in MENA

In 2021, purchases abroad of ferro-cerium and pyrophoric alloys decreased by -29.1% to X tons, falling for the second year in a row after three years of growth. In general, imports saw a pronounced descent. The pace of growth appeared the most rapid in 2019 with an increase of 24%. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, ferro-cerium and pyrophoric alloys imports shrank dramatically to $X in 2021. Overall, imports showed a pronounced decrease. The pace of growth was the most pronounced in 2019 when imports increased by 23% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Israel (X tons) was the key importer of ferro-cerium and pyrophoric alloys, committing 31% of total imports. It was distantly followed by Morocco (X tons), Kuwait (X tons), Qatar (X tons), the United Arab Emirates (X tons), Jordan (X tons) and Oman (X tons), together comprising a 53% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to ferro-cerium and pyrophoric alloys imports into Israel stood at +1.1%. At the same time, Qatar (+43.0%), Oman (+16.6%), Kuwait (+11.4%), Jordan (+9.3%) and Morocco (+7.5%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in MENA, with a CAGR of +43.0% from 2012-2021. By contrast, the United Arab Emirates (-5.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Israel, Morocco, Kuwait, Qatar, Jordan and Oman increased by +12, +9.8, +8.4, +7.4, +5 and +4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported ferro-cerium and pyrophoric alloys in MENA, comprising 31% of total imports. The second position in the ranking was taken by Qatar ($X), with a 12% share of total imports. It was followed by Morocco, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Israel was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+46.0% per year) and Morocco (+5.9% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, increasing by 5.1% against the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2020 an increase of 25% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

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 Qatar ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform