Middle East: Carbides Market 2024

Carbides Market Size in the Middle East

In 2022, the Middle Eastern carbides market increased by 0.1% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the market value increased by 9.1%. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Carbides Production in the Middle East

In value terms, carbides production contracted to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 9.2%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Carbides Exports

Exports in the Middle East

Carbides exports expanded to X tons in 2022, with an increase of 4.9% on the previous year. Over the period under review, exports showed pronounced growth. The pace of growth appeared the most rapid in 2019 with an increase of 73%. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, carbides exports skyrocketed to $X in 2022. Overall, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 248%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Iran prevails in exports structure, accounting for X tons, which was near 83% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons) and Israel (X tons), together mixing up an 11% share of total exports. Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to carbides exports from Iran stood at +29.5%. At the same time, Israel (+30.7%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +30.7% from 2012-2022. By contrast, the United Arab Emirates (-4.1%) and Turkey (-22.8%) illustrated a downward trend over the same period. While the share of Iran (+73 p.p.) and Israel (+4.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-8.5 p.p.) and Turkey (-54.4 p.p.) displayed negative dynamics.

In value terms, Israel ($X), Iran ($X) and Turkey ($X) were the countries with the highest levels of exports in 2022, together comprising 97% of total exports.

Israel, with a CAGR of +75.1%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, growing by 48% against the previous year. Overall, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 when the export price increased by 204% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+33.9%), while the other leaders experienced more modest paces of growth.

Carbides Imports

Imports in the Middle East

After two years of growth, purchases abroad of carbides decreased by -8.6% to X tons in 2022. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when imports increased by 33% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, carbides imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 35%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Turkey represented the largest importer of carbides in the Middle East, with the volume of imports reaching X tons, which was near 57% of total imports in 2022. The United Arab Emirates (X tons) held the second position in the ranking, followed by Saudi Arabia (X tons). All these countries together took near 24% share of total imports. The following importers - Qatar (X tons), Israel (X tons), Iran (X tons) and Oman (X tons) - together made up 12% of total imports.

Turkey was also the fastest-growing in terms of the carbides imports, with a CAGR of +16.4% from 2012 to 2022. At the same time, Israel (+5.8%) and Qatar (+1.3%) displayed positive paces of growth. By contrast, Oman (-2.8%), the United Arab Emirates (-3.0%), Iran (-3.8%) and Saudi Arabia (-8.6%) illustrated a downward trend over the same period. While the share of Turkey (+43 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Iran (-1.7 p.p.), the United Arab Emirates (-7.7 p.p.) and Saudi Arabia (-18.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported carbides in the Middle East, comprising 58% of total imports. The second position in the ranking was held by Israel ($X), with a 17% share of total imports. It was followed by the United Arab Emirates, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +16.8%. In the other countries, the average annual rates were as follows: Israel (-7.9% per year) and the United Arab Emirates (+0.5% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, jumping by 26% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, 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 Israel ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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