Middle East: Chromates Market 2024

Chromates Market Size in the Middle East

The Middle Eastern chromates market soared to $X in 2022, rising by 2,216% against the previous year. Over the period under review, consumption recorded significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Chromates Production in the Middle East

In value terms, chromates production dropped remarkably to $X in 2022 estimated in export price. Over the period under review, production saw a tangible increase. The growth pace was the most rapid in 2018 when the production volume increased by 349% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Chromates Exports

Exports in the Middle East

In 2022, after six years of decline, there was significant growth in overseas shipments of chromates, dichromates and peroxochromates, when their volume increased by 282% to X tons. In general, exports showed a measured increase. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, chromates exports soared to $X in 2022. Over the period under review, exports enjoyed a strong increase. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the largest exporter of chromates, dichromates and peroxochromates, achieving 75% of total exports. Turkey (X tons) ranks second in terms of the total exports with a 15% share, followed by Israel (9.8%).

Exports from the United Arab Emirates increased at an average annual rate of +9.1% from 2012 to 2022. At the same time, Turkey (+55.6%) and Israel (+21.5%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +55.6% from 2012-2022. The United Arab Emirates (+35 p.p.), Turkey (+15 p.p.) and Israel (+8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) emerged as the largest chromates supplier in the Middle East, comprising 58% of total exports. The second position in the ranking was taken by Turkey ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +10.9%. In the other countries, the average annual rates were as follows: Turkey (+44.9% per year) and Israel (+19.1% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, shrinking by -29% against the previous year. Over the period under review, the export price, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2021 when the export price increased by 110% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.7%), while the other leaders experienced a decline in the export price figures.

Chromates Imports

Imports in the Middle East

In 2022, overseas purchases of chromates, dichromates and peroxochromates decreased by -20.6% to X tons, falling for the second consecutive year after two years of growth. In general, imports showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 with an increase of 81% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, chromates imports surged to $X in 2022. Overall, imports faced a precipitous decline. The most prominent rate of growth was recorded in 2020 with an increase of 62% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of chromates imports in 2022 were the United Arab Emirates (X tons), Iran (X tons) and Turkey (X tons), together reaching 68% of total import. Saudi Arabia (X tons) ranks next in terms of the total imports with a 10% share, followed by Yemen (8.2%) and Israel (6.5%). Iraq (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Yemen (with a CAGR of +40.8%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Iran ($X) constituted the countries with the highest levels of imports in 2022, with a combined 69% share of total imports. Saudi Arabia, Israel, Iraq and Yemen lagged somewhat behind, together accounting for a further 25%.

In terms of the main importing countries, Yemen, with a CAGR of +20.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, increasing by 46% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 an increase of 83% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices remained at a lower figure.

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 Turkey ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+9.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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