Middle East: Market for Double Or Complex Silicates 2024

Market Size for Double Or Complex Silicates in the Middle East

The Middle Eastern double or complex silicates market reduced to $X in 2021, which is down by -11.5% against the previous year. In general, consumption showed a perceptible setback. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Double Or Complex Silicates in the Middle East

In value terms, double or complex silicates production shrank to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by 25%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Double Or Complex Silicates

Exports in the Middle East

In 2021, overseas shipments of double or complex silicates increased by 186% to X tons, rising for the second consecutive year after six years of decline. Over the period under review, exports saw a resilient increase. The pace of growth was the most pronounced in 2020 when exports increased by 272%. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, double or complex silicates exports skyrocketed to $X in 2021. In general, exports enjoyed prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 335%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

Turkey prevails in exports structure, recording X tons, which was near 90% of total exports in 2021. It was distantly followed by Iran (X tons), mixing up a 6.1% share of total exports. The United Arab Emirates (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to double or complex silicates exports from Turkey stood at +15.2%. At the same time, the United Arab Emirates (+26.4%) and Iran (+19.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +26.4% from 2012-2021. The United Arab Emirates (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest double or complex silicates supplier in the Middle East, comprising 93% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 3.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Turkey totaled +15.1%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+17.0% per year) and Iran (+16.4% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, declining by -11.3% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 26%. Over the period under review, the export prices hit record highs at $X per ton in 2020, and then reduced in the following year.

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 Turkey ($X per ton), while Iran ($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 (-0.1%), while the other leaders experienced a decline in the export price figures.

Imports of Double Or Complex Silicates

Imports in the Middle East

After three years of decline, overseas purchases of double or complex silicates increased by 0.7% to X tons in 2021. Overall, imports, however, showed a perceptible descent. The growth pace was the most rapid in 2014 with an increase of 38%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, double or complex silicates imports rose notably to $X in 2021. Over the period under review, imports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 121%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X tons) represented the major importer of double or complex silicates, committing 48% of total imports. Saudi Arabia (X tons) ranks second in terms of the total imports with a 21% share, followed by the United Arab Emirates (10%) and Israel (9.4%). The following importers - Iraq (X tons), Yemen (X tons) and Kuwait (X tons) - each resulted at a 6.2% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to double or complex silicates imports into Turkey stood at +5.1%. At the same time, Iraq (+29.5%), Saudi Arabia (+9.4%), Kuwait (+7.6%) and the United Arab Emirates (+3.0%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +29.5% from 2012-2021. By contrast, Israel (-1.5%) and Yemen (-17.1%) illustrated a downward trend over the same period. While the share of Turkey (+24 p.p.), Saudi Arabia (+14 p.p.), the United Arab Emirates (+4.3 p.p.) and Iraq (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Yemen (-6.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest double or complex silicates importing markets in the Middle East were Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X), with a combined 80% share of total imports. Israel, Iraq, Kuwait and Yemen lagged somewhat behind, together comprising a further 15%.

Iraq, with a CAGR of +36.1%, recorded the highest growth rate of 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, growing by 4.9% against the previous year. Over the period under review, the import price, however, showed a perceptible contraction. The growth pace was the most rapid in 2017 an increase of 101% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat 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 Iraq ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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