Middle East: Bismuth Market 2022

Bismuth Market Size in the Middle East

In 2021, the Middle Eastern bismuth market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. The total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Bismuth Production in the Middle East

In value terms, bismuth production declined sharply to $X in 2021 estimated in export price. In general, production continues to indicate a deep slump. The pace of growth was the most pronounced in 2020 when the production volume increased by 30% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Bismuth Exports

Exports in the Middle East

Bismuth exports surged to X tons in 2021, with an increase of 69% on the previous year's figure. In general, exports, however, showed a mild setback. The growth pace was the most rapid in 2014 with an increase of 81%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, bismuth exports skyrocketed to $X in 2021. Overall, exports, however, recorded a drastic downturn. The growth pace was the most rapid in 2018 with an increase of 126%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey dominates exports structure, finishing at X tons, which was approx. 95% of total exports in 2021. It was distantly followed by the United Arab Emirates (X kg), making up a 4.9% share of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of bismuth. At the same time, the United Arab Emirates (+9.5%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +9.5% from 2012-2021. While the share of Turkey (+9.2 p.p.) and the United Arab Emirates (+3.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest bismuth supplier in the Middle East, comprising 75% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey amounted to -11.8%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, declining by -3% against the previous year. In general, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2018 an increase of 73%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per ton), while Turkey stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.8%).

Bismuth Imports

Imports in the Middle East

After two years of decline, supplies from abroad of bismuth increased by 167% to X tons in 2021. Over the period under review, imports recorded a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bismuth imports soared to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Israel represented the key importing country with an import of about X tons, which reached 59% of total imports. It was distantly followed by Turkey (X tons), constituting a 37% share of total imports. Saudi Arabia (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Turkey (with a CAGR of +23.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Israel ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 97% share of total imports.

Turkey, with a CAGR of +19.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, waning by -46.6% against the previous year. Over the period under review, the import price recorded a abrupt decline. The pace of growth was the most pronounced in 2015 an increase of 37% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Turkey ($X per ton), while Israel ($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 (-3.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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