MENA: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in MENA

The MENA's zinc ores and concentrates market skyrocketed to $X in 2021, jumping by 38% against the previous year. Over the period under review, consumption showed a mild expansion. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of Zinc Ores And Concentrates in MENA

In value terms, zinc ores and concentrates production soared to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Zinc Ores And Concentrates

Exports in MENA

In 2021, overseas shipments of zinc ores and concentrates increased by 22% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports posted a prominent increase. The pace of growth was the most pronounced in 2017 when exports increased by 62%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, zinc ores and concentrates exports surged to $X in 2021. Overall, exports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 77%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey dominates exports structure, resulting at X tons, which was near 85% of total exports in 2021. Morocco (X tons) took a 9.3% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (5.1%).

From 2012 to 2021, average annual rates of growth with regard to zinc ores and concentrates exports from Turkey stood at +8.3%. At the same time, Saudi Arabia (+8.6%) and Morocco (+2.9%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +8.6% from 2012-2021. While the share of Turkey (+12 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Morocco (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest zinc ores and concentrates supplier in MENA, comprising 79% of total exports. The second position in the ranking was taken by Morocco ($X), with an 11% share of total exports.

In Turkey, zinc ores and concentrates exports increased at an average annual rate of +10.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Morocco (+4.1% per year) and Saudi Arabia (+7.7% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, jumping by 24% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Zinc Ores And Concentrates

Imports in MENA

Zinc ores and concentrates imports skyrocketed to X tons in 2021, with an increase of 99% against 2020 figures. In general, imports recorded significant growth. The growth pace was the most rapid in 2013 when imports increased by 275% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, zinc ores and concentrates imports surged to $X in 2021. Overall, imports recorded a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 161%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Iran dominates imports structure, resulting at X tons, which was near 94% of total imports in 2021. It was distantly followed by Turkey (X tons), generating a 4.8% share of total imports.

Imports into Iran increased at an average annual rate of +73.6% from 2012 to 2021. At the same time, Turkey (+218.2%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in MENA, with a CAGR of +218.2% from 2012-2021. From 2012 to 2021, the share of Iran and Turkey increased by +77 and +4.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iran ($X) constitutes the largest market for imported zinc ores and concentrates in MENA, comprising 91% of total imports. The second position in the ranking was held by Turkey ($X), with a 4.7% share of total imports.

In Iran, zinc ores and concentrates imports expanded at an average annual rate of +55.5% over the period from 2012-2021.

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, declining by -21.7% against the previous year. In general, the import price faced a deep contraction. The most prominent rate of growth was recorded in 2015 when the import price increased by 58%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Turkey ($X per ton), while Iran totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (-10.4%).

Source: IndexBox Platform