MENA: Tantalum Market 2024

Tantalum Market Size in MENA

In 2022, the MENA's tantalum market decreased by -23.5% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, recorded a pronounced expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Tantalum Production in MENA

In value terms, tantalum production rose slightly to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.6% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 25%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Tantalum Exports

Exports in MENA

In 2022, overseas shipments of tantalum decreased by -3.8% to X kg, falling for the third year in a row after four years of growth. In general, exports saw a deep slump. The growth pace was the most rapid in 2016 with an increase of 352% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, tantalum exports rose slightly to $X in 2022. Overall, exports showed a abrupt decrease. The growth pace was the most rapid in 2016 when exports increased by 362% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Israel represented the largest exporter of tantalum in MENA, with the volume of exports resulting at X kg, which was approx. 78% of total exports in 2022. It was distantly followed by the United Arab Emirates (X kg), achieving a 21% share of total exports.

Exports from Israel decreased at an average annual rate of -7.9% from 2012 to 2022. At the same time, the United Arab Emirates (+34.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +34.7% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates increased by +21 percentage points.

In value terms, Israel ($X) remains the largest tantalum supplier in MENA, comprising 80% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 20% share of total exports.

In Israel, tantalum exports contracted by an average annual rate of -9.2% over the period from 2012-2022.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, rising by 7% against the previous year. Over the period under review, the export price, however, saw a mild decline. The pace of growth was the most pronounced in 2019 an increase of 17% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+14.7%).

Tantalum Imports

Imports in MENA

After two years of growth, purchases abroad of tantalum decreased by -23.7% to X tons in 2022. Overall, imports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2017 with an increase of 182% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then fell notably in the following year.

In value terms, tantalum imports declined remarkably to $X in 2022. Total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +87.3% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 93%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Israel (X tons) represented the key importer of tantalum, making up 79% of total imports. The United Arab Emirates (X tons) held the second position in the ranking, followed by Iran (X tons). All these countries together took near 20% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to tantalum imports into Israel stood at +3.1%. At the same time, the United Arab Emirates (+54.8%) and Iran (+32.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +54.8% from 2012-2022. While the share of the United Arab Emirates (+12 p.p.) and Iran (+6.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Israel (-17.5 p.p.) displayed negative dynamics.

In value terms, Israel ($X) constitutes the largest market for imported tantalum in MENA, comprising 88% of total imports. The second position in the ranking was taken by Iran ($X), with a 9.6% share of total imports.

In Israel, tantalum imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Iran (+39.5% per year) and the United Arab Emirates (+22.5% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, rising by 3% against the previous year. Over the period under review, the import price, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2014 an increase of 16% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the 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 Iran ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+5.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform