Middle East: Carbonate Market 2024

Carbonate Market Size in the Middle East

The Middle Eastern carbonate market was estimated at $X in 2021, flattening at the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Carbonate Production in the Middle East

In value terms, carbonate production surged to $X in 2021 estimated in export price. In general, production continues to indicate a significant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 565% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Carbonate Exports

Exports in the Middle East

Carbonate exports expanded notably to X tons in 2021, picking up by 11% against the year before. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 159%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, carbonate exports expanded sharply to $X in 2021. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by 257%. The level of export peaked in 2021 and is likely to see steady growth in the immediate term.

Exports by Country

Turkey dominates exports structure, accounting for X tons, which was near 93% of total exports in 2021. The United Arab Emirates (X tons) and Jordan (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the carbonates and peroxocarbonates exports, with a CAGR of +42.3% from 2012 to 2021. At the same time, the United Arab Emirates (+26.1%) displayed positive paces of growth. By contrast, Jordan (-14.1%) illustrated a downward trend over the same period. While the share of Turkey (+67 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Jordan (-45.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest carbonate supplier in the Middle East, comprising 89% of total exports. The second position in the ranking was taken by Jordan ($X), with a 4.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Turkey totaled +48.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Jordan (+2.9% per year) and the United Arab Emirates (+22.2% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, falling by -1.8% against the previous year. Export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, carbonate export price decreased by -3.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 38%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+19.9%), while the other leaders experienced mixed trends in the export price figures.

Carbonate Imports

Imports in the Middle East

In 2021, overseas purchases of carbonates and peroxocarbonates decreased by -0.3% to X tons, falling for the sixth year in a row after four years of growth. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 14% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, carbonate imports expanded rapidly to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 9.1%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Saudi Arabia represented the main importing country with an import of about X tons, which recorded 39% of total imports. Turkey (X tons) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (13%), Kuwait (7.7%), Israel (5.2%) and Oman (4.8%). Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to carbonate imports into Saudi Arabia stood at -1.4%. At the same time, Kuwait (+18.2%), Oman (+14.4%), Qatar (+14.3%) and the United Arab Emirates (+5.4%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +18.2% from 2012-2021. By contrast, Israel (-2.3%) and Turkey (-4.6%) illustrated a downward trend over the same period. Kuwait (+6 p.p.), the United Arab Emirates (+5.1 p.p.), Oman (+3.4 p.p.) and Qatar (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia and Turkey saw its share reduced by -4.9% and -8.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 68% of total imports. Israel, Kuwait, Oman and Qatar lagged somewhat behind, together accounting for a further 19%.

Oman, with a CAGR of +14.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, rising by 6.7% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 8.4% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while Kuwait ($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 (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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