Middle East: Fluorspar Market 2024

Fluorspar Market Size in the Middle East

In 2021, the Middle Eastern fluorspar market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption posted a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Fluorspar Production in the Middle East

In value terms, fluorspar production fell slightly to $X in 2021 estimated in export price. Overall, production showed a mild decrease. The most prominent rate of growth was recorded in 2016 when the production volume increased by 14%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Fluorspar Exports

Exports in the Middle East

In 2021, shipments abroad of fluorspar decreased by -4.5% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 95%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, fluorspar exports surged to $X in 2021. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 96%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Iran represented the major exporter of fluorspar in the Middle East, with the volume of exports amounting to X tons, which was approx. 66% of total exports in 2021. Turkey (X tons) held the second position in the ranking, distantly followed by the United Arab Emirates (X tons). All these countries together took near 33% share of total exports.

Exports from Iran decreased at an average annual rate of -1.4% from 2012 to 2021. At the same time, Turkey (+42.1%) and the United Arab Emirates (+7.1%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +42.1% from 2012-2021. While the share of Turkey (+26 p.p.) and the United Arab Emirates (+3.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fluorspar supplying countries in the Middle East were Iran ($X), Turkey ($X) and the United Arab Emirates ($X), together comprising 99% of total exports.

In terms of the main exporting countries, Turkey, with a CAGR of +47.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, picking up by 47% against the previous year. Overall, the export price saw a mild expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, 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 (+3.5%), while the other leaders experienced a decline in the export price figures.

Fluorspar Imports

Imports in the Middle East

After two years of decline, overseas purchases of fluorspar increased by 114% to X tons in 2021. Overall, imports recorded a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fluorspar imports soared to $X in 2021. Over the period under review, imports recorded resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey was the major importing country with an import of around X tons, which amounted to 70% of total imports. It was distantly followed by the United Arab Emirates (X tons), mixing up a 28% share of total imports.

Imports into Turkey increased at an average annual rate of +13.9% from 2012 to 2021. At the same time, the United Arab Emirates (+19.4%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +19.4% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates increased by +9.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fluorspar importing markets in the Middle East were Turkey ($X) and the United Arab Emirates ($X).

Among the main importing countries, the United Arab Emirates, with a CAGR of +26.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, with an increase of 28% against the previous year. Over the period under review, the import price, however, saw a pronounced decline. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while Turkey totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.9%).

Source: IndexBox Platform

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