Middle East: Ferro-Molybdenum Market 2024

Ferro-Molybdenum Market Size in the Middle East

The Middle Eastern ferro-molybdenum market stood at $X in 2022, picking up by 2.6% against the previous year. The total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +23.6% against 2020 indices. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in the immediate term.

Ferro-Molybdenum Production in the Middle East

In value terms, ferro-molybdenum production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 21%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Ferro-Molybdenum Exports

Exports in the Middle East

In 2022, approx. X tons of ferro-molybdenum were exported in the Middle East; approximately reflecting the year before. Overall, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 24% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, ferro-molybdenum exports dropped to $X in 2022. Over the period under review, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 58% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Iran (X tons) represented roughly 99% of total exports in 2022.

Iran was also the fastest-growing in terms of the ferro-molybdenum exports, with a CAGR of -6.7% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Iran ($X) also remains the largest ferro-molybdenum supplier in the Middle East.

From 2012 to 2022, the average annual growth rate of value in Iran stood at -11.2%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, which is down by -6.2% against the previous year. Over the period under review, the export price continues to indicate a perceptible setback. The growth pace was the most rapid in 2018 an increase of 47% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Iran.

From 2012 to 2022, the rate of growth in terms of prices for Iran amounted to -4.8% per year.

Ferro-Molybdenum Imports

Imports in the Middle East

In 2022, approx. X tons of ferro-molybdenum were imported in the Middle East; with a decrease of -8.6% on 2021. Over the period under review, imports, however, saw a modest expansion. The most prominent rate of growth was recorded in 2016 with an increase of 93%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, ferro-molybdenum imports soared to $X in 2022. Overall, imports, however, saw measured growth. The pace of growth appeared the most rapid in 2021 when imports increased by 89%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) was the major importer of ferro-molybdenum, mixing up 87% of total imports. It was distantly followed by Saudi Arabia (X tons), generating an 11% share of total imports. The United Arab Emirates (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the ferro-molybdenum imports, with a CAGR of +4.3% from 2012 to 2022. The United Arab Emirates (-4.7%) and Saudi Arabia (-9.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey increased by +24 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported ferro-molybdenum in the Middle East, comprising 91% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 7.6% share of total imports.

In Turkey, ferro-molybdenum imports expanded at an average annual rate of +6.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (-12.0% per year) and the United Arab Emirates (-8.4% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, increasing by 37% against the previous year. Overall, the import price saw a mild increase. The growth pace was the most rapid in 2017 when the import price increased by 80%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain 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 ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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