MENA: Sulphur Market 2024

Sulphur Market Size in MENA

The MENA's sulphur market shrank rapidly to $X in 2022, with a decrease of -25.3% against the previous year. Overall, consumption, however, recorded a strong expansion. As a result, consumption attained the peak level of $X, and then fell sharply in the following year.

Sulphur Production in MENA

In value terms, sulphur production contracted significantly to $X in 2022 estimated in export price. Overall, production saw a significant expansion. The growth pace was the most rapid in 2021 when the production volume increased by 1,008% against the previous year. As a result, production reached the peak level of $X, and then reduced notably in the following year.

Sulphur Exports

Exports in MENA

In 2022, approx. X tons of sulphur were exported in MENA; with an increase of 38% compared with the previous year. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.6% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sulphur exports surged to $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.2% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Qatar (X tons) and the United Arab Emirates (X tons) represented roughly 73% of total exports in 2022. Saudi Arabia (X tons) took the next position in the ranking, distantly followed by Iran (X tons). All these countries together held approx. 20% share of total exports. The following exporters - Turkey (X tons) and Kuwait (X tons) - each reached a 3.9% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +20.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest sulphur supplying countries in MENA were Qatar ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined 83% share of total exports. Turkey, Iran and Kuwait lagged somewhat behind, together comprising a further 12%.

Among the main exporting countries, Turkey, with a CAGR of +27.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the export price, however, showed a deep downturn. The pace of growth was the most pronounced in 2018 when the export price increased by 29%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Iran ($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 (+5.7%), while the other leaders experienced a decline in the export price figures.

Sulphur Imports

Imports in MENA

In 2022, approx. X tons of sulphur were imported in MENA; growing by 2.8% against the previous year's figure. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when imports increased by 12% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, sulphur imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Morocco (X tons) was the major importer of sulphur, constituting 65% of total imports. It was distantly followed by Israel (X tons), mixing up a 14% share of total imports. The following importers - Tunisia (X tons), Egypt (X tons), Turkey (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons) and Iran (X tons) - together made up 19% of total imports.

Imports into Morocco increased at an average annual rate of +3.8% from 2012 to 2022. At the same time, Saudi Arabia (+111.6%), Iran (+81.8%), the United Arab Emirates (+60.8%), Turkey (+8.9%), Israel (+5.6%) and Egypt (+1.6%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in MENA, with a CAGR of +111.6% from 2012-2022. By contrast, Tunisia (-9.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia, the United Arab Emirates, Israel and Iran increased by +3.2, +2.4, +2.4 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Morocco ($X) constitutes the largest market for imported sulphur in MENA, comprising 75% of total imports. The second position in the ranking was taken by Israel ($X), with an 11% share of total imports. It was followed by Turkey, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Morocco amounted to +8.5%. In the other countries, the average annual rates were as follows: Israel (+7.7% per year) and Turkey (+14.7% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, jumping by 154% against the previous year. In general, the import price saw a noticeable increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($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 (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform