Middle East: Chromium Market 2021

Chromium Market Size in the Middle East

In 2020, the Middle Eastern chromium market increased by X% to $X, rising for the fourth year in a row after three years of decline. Over the period under review, consumption showed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X% y-o-y. Over the period under review, the market reached the maximum level in 2020 and is likely to continue growth in the near future.

Chromium Production in the Middle East

In value terms, chromium production soared to $X in 2020 estimated in export prices. Overall, production continues to indicate a significant increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked in 2020 and is likely to continue growth in the near future.

Production By Country in the Middle East

The country with the largest volume of chromium production was Turkey (X tons), accounting for X% of total volume. Moreover, chromium production in Turkey exceeded the figures recorded by the second-largest producer, Iran (X tons), more than tenfold.

From 2007 to 2020, the average annual growth rate of volume in Turkey stood at +X%. In the other countries, the average annual rates were as follows: Iran (+X% per year) and Oman (-X% per year).

Chromium Exports

Exports in the Middle East

For the fifth year in a row, the Middle East recorded growth in shipments abroad of chromium, which increased by X% to X tons in 2020. Overall, exports saw a prominent expansion. The pace of growth appeared the most rapid in 2010 with an increase of X% y-o-y. As a result, exports attained the peak of X tons. From 2011 to 2020, the growth exports remained at a lower figure.

In value terms, chromium exports soared to $X in 2020. In general, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. As a result, exports attained the peak of $X. From 2011 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

Turkey prevails in chromium exports structure, recording X tons, which was approx. X% of total exports in 2020. The United Arab Emirates (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the chromium exports, with a CAGR of +X% from 2007 to 2020. the United Arab Emirates (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of Turkey increased by +X% percentage points, while the United Arab Emirates (-X p.p.) saw their share reduced.

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

From 2007 to 2020, the average annual rate of growth in terms of value in Turkey amounted to +X%.

Export Prices by Country

In 2020, the chromium export price in the Middle East amounted to $X per ton, reducing by -X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X% y-o-y. Over the period under review, export prices hit record highs at $X per ton in 2011; however, from 2012 to 2020, export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2020, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey totaled $X per ton.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Turkey.

Chromium Imports

Imports in the Middle East

In 2020, approx. X tons of chromium were imported in the Middle East; increasing by X% compared with the previous year's figure. Overall, imports showed strong growth. The pace of growth appeared the most rapid in 2011 when imports increased by X% y-o-y. The volume of import peaked in 2020 and is expected to retain growth in years to come.

In value terms, chromium imports fell sharply to $X in 2020. Over the period under review, imports posted temperate growth. The most prominent rate of growth was recorded in 2011 when imports increased by X% year-to-year. As a result, imports reached the peak of $X. From 2012 to 2020, the growth imports remained at a somewhat lower figure.

Imports by Country

Turkey represented the major importer of chromium in the Middle East, with the volume of imports finishing at X tons, which was near X% of total imports in 2020. It was distantly followed by the United Arab Emirates (X tons) and Iran (X tons), together achieving a X% share of total imports. The following importers - Bahrain (X tons) and Israel (X tons) - together made up X% of total imports.

Turkey was also the fastest-growing in terms of the chromium imports, with a CAGR of +X% from 2007 to 2020. At the same time, Iran (+X%) displayed positive paces of growth. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Israel (-X%) and Bahrain (-X%) illustrated a downward trend over the same period. While the share of Turkey (+X p.p.) and Iran (+X p.p.) increased significantly in terms of the total imports from 2007-2020, the share of Israel (-X p.p.), the United Arab Emirates (-X p.p.) and Bahrain (-X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) constitutes the largest market for imported chromium in the Middle East, comprising X% of total imports. The second position in the ranking was occupied by Iran ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

In Turkey, chromium imports expanded at an average annual rate of +X% over the period from 2007-2020. The remaining importing countries recorded the following average annual rates of imports growth: Iran (+X% per year) and the United Arab Emirates (-X% per year).

Import Prices by Country

The chromium import price in the Middle East stood at $X per ton in 2020, dropping by -X% against the previous year. Over the period under review, the import price recorded a slight reduction. The most prominent rate of growth was recorded in 2018 when the import price increased by X% year-to-year. The level of import peaked at $X per ton in 2011; however, from 2012 to 2020, import prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Iran ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Israel, while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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