MENA: Roasted Iron Pyrites Market 2024

Roasted Iron Pyrites Market Size in MENA

In 2021, after two years of growth, there was decline in the MENA's roasted iron pyrites market, when its value decreased by -2.2% to $X. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +11.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +10.8% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2020, and then contracted in the following year.

Roasted Iron Pyrites Production in MENA

In value terms, roasted iron pyrites production declined modestly to $X in 2021 estimated in export price. The total production indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +11.3% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 89%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Roasted Iron Pyrites Exports

Exports in MENA

After two years of decline, overseas shipments of roasted iron pyrites increased by 5,186% to X tons in 2021. In general, exports, however, faced a abrupt contraction. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, roasted iron pyrites exports surged to $X in 2021. Over the period under review, exports enjoyed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

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

Turkey was also the fastest-growing in terms of the roasted iron pyrites exports, with a CAGR of -6.1% from 2012 to 2021. From 2012 to 2021, the share of Turkey increased by +34 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest roasted iron pyrites supplier in MENA.

From 2012 to 2021, the average annual growth rate of value in Turkey amounted to +16.1%.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, picking up by 112% against the previous year. Over the period under review, the export price enjoyed a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the rate of growth in terms of prices for Turkey amounted to +23.6% per year.

Roasted Iron Pyrites Imports

Imports in MENA

In 2021, the amount of roasted iron pyrites imported in MENA rose remarkably to X tons, with an increase of 11% on 2020. In general, imports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 493% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, roasted iron pyrites imports shrank to $X in 2021. Overall, imports, however, showed a drastic downturn. The pace of growth was the most pronounced in 2013 when imports increased by 148%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Kuwait dominates imports structure, finishing at X tons, which was approx. 89% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), creating a 6.7% share of total imports. Lebanon (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to roasted iron pyrites imports into Kuwait stood at -12.2%. At the same time, the United Arab Emirates (+39.3%) and Lebanon (+21.4%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +39.3% from 2012-2021. While the share of the United Arab Emirates (+6.6 p.p.) and Lebanon (+3.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) constitutes the largest market for imported roasted iron pyrites in MENA, comprising 69% of total imports. The second position in the ranking was taken by Lebanon ($X), with an 8.3% share of total imports.

In Kuwait, roasted iron pyrites imports decreased by an average annual rate of -19.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Lebanon (+17.2% per year) and the United Arab Emirates (+17.7% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, waning by -18.9% against the previous year. In general, the import price saw a abrupt downturn. The pace of growth appeared the most rapid in 2014 when the import price increased by 273% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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 Lebanon ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lebanon (-3.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform