Middle East: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in the Middle East

In 2022, the Middle Eastern ferro-alloys market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Ferro-Alloys Production in the Middle East

In value terms, ferro-alloys production reduced dramatically to $X in 2022 estimated in export price. In general, production, however, continues to indicate a strong increase. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X, and then declined markedly in the following year.

Ferro-Alloys Exports

Exports in the Middle East

In 2022, after two years of growth, there was decline in overseas shipments of ferro-alloys, when their volume decreased by X% to X tons. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then declined in the following year.

In value terms, ferro-alloys exports shrank to $X in 2022. Over the period under review, exports, however, posted a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

In 2022, Turkey (X tons) was the largest exporter of ferro-alloys, achieving X% of total exports. Iran (X tons) ranks second in terms of the total exports with a X% share, followed by Oman (X%) and the United Arab Emirates (X%). Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to ferro-alloys exports from Turkey stood at X%. At the same time, Oman (X%), Iran (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Iran and Oman increased by X and X percentage points, respectively.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Iran ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Oman and Saudi Arabia lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Oman, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, waning by X% against the previous year. Overall, the export price, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($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 (X%), while the other leaders experienced more modest paces of growth.

Ferro-Alloys Imports

Imports in the Middle East

In 2022, approx. X tons of ferro-alloys were imported in the Middle East; picking up by X% against the previous year. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, ferro-alloys imports surged to $X in 2022. Total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Turkey prevails in imports structure, finishing at X tons, which was near X% of total imports in 2022. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Saudi Arabia (X%). The following importers - Oman (X tons), Qatar (X tons) and Iran (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to ferro-alloys imports into Turkey stood at X%. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%), Qatar (X%) and Iran (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Oman increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Turkey, ferro-alloys imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-alloys import price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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