Middle East: Degras Market 2024

Degras Market Size in the Middle East

In 2021, after two years of growth, there was decline in the Middle Eastern degras market, when its value decreased by -2.1% to $X. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Degras Production in the Middle East

In value terms, degras production surged to $X in 2021 estimated in export price. The total production indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +66.6% against 2016 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Degras Exports

Exports in the Middle East

In 2021, approx. X tons of degras were exported in the Middle East; reducing by -42.5% against 2020. Overall, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2020 when exports increased by 64%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, degras exports declined significantly to $X in 2021. In general, exports recorded a abrupt slump. The growth pace was the most rapid in 2020 with an increase of 65%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Bahrain (X tons), Kuwait (X tons), Saudi Arabia (X tons) and Iraq (X tons) represented roughly 76% of total exports in 2021. Iran (X tons) held the next position in the ranking, followed by Oman (X tons). All these countries together took approx. 13% share of total exports. Turkey (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +15.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kuwait ($X) emerged as the largest degras supplier in the Middle East, comprising 44% of total exports. The second position in the ranking was held by Bahrain ($X), with a 21% share of total exports. It was followed by Saudi Arabia, with a 12% share.

In Kuwait, degras exports increased at an average annual rate of +9.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (+26.3% per year) and Saudi Arabia (-22.7% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, growing by 17% against the previous year. In general, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2019 an increase of 51%. The level of export peaked in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+22.2%), while the other leaders experienced more modest paces of growth.

Degras Imports

Imports in the Middle East

In 2021, purchases abroad of degras increased by 37% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, saw a perceptible curtailment. The pace of growth was the most pronounced in 2013 with an increase of 85% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, degras imports soared to $X in 2021. Overall, imports, however, saw a deep setback. The pace of growth appeared the most rapid in 2013 with an increase of 60% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey prevails in imports structure, recording X tons, which was approx. 85% of total imports in 2021. It was distantly followed by Jordan (X tons), creating a 6.9% share of total imports. Israel (X tons) and the United Arab Emirates (X tons) took a relatively small share of total imports.

Turkey was also the fastest-growing in terms of the degras imports, with a CAGR of +29.3% from 2012 to 2021. At the same time, Jordan (+19.9%), the United Arab Emirates (+16.7%) and Israel (+9.0%) displayed positive paces of growth. From 2012 to 2021, the share of Turkey, Jordan and Israel increased by +78, +5.9 and +2.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported degras in the Middle East, comprising 63% of total imports. The second position in the ranking was held by Jordan ($X), with a 20% share of total imports. It was followed by Israel, with a 7.8% share.

In Turkey, degras imports expanded at an average annual rate of +23.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Jordan (+26.5% per year) and Israel (+5.0% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, declining by -9.7% against the previous year. Overall, the import price saw a deep setback. The most prominent rate of growth was recorded in 2020 when the import price increased by 68% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: 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 (+5.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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