Middle East: Mercury Market 2024

Mercury Market Size in the Middle East

In 2021, after two years of decline, there was significant growth in the Middle Eastern mercury market, when its value increased by 91% to $X. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Mercury Production in the Middle East

In value terms, mercury production dropped slightly to $X in 2021 estimated in export price. Over the period under review, production showed a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 94%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Mercury Exports

Exports in the Middle East

In 2021, overseas shipments of mercuries decreased by -23.2% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports, however, enjoyed noticeable growth. The most prominent rate of growth was recorded in 2015 when exports increased by 492%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, mercury exports contracted sharply to $X in 2021. In general, exports recorded a mild decrease. The pace of growth was the most pronounced in 2015 with an increase of 1,161%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the largest exporting country with an export of around X tons, which resulted at 77% of total exports. Turkey (X tons) held the second position in the ranking, distantly followed by Israel (X tons). All these countries together held approx. 23% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to mercury exports from the United Arab Emirates stood at +4.9%. At the same time, Israel (+42.9%) and Turkey (+6.2%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +42.9% from 2012-2021. The United Arab Emirates (+17 p.p.), Israel (+6.7 p.p.) and Turkey (+4.7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest mercury supplier in the Middle East, comprising 77% of total exports. The second position in the ranking was taken by Turkey ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates stood at +5.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+3.2% per year) and Israel (+72.9% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, with a decrease of -13.6% against the previous year. In general, the export price saw a pronounced downturn. The growth pace was the most rapid in 2015 an increase of 113%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+21.0%), while the other leaders experienced mixed trends in the export price figures.

Mercury Imports

Imports in the Middle East

In 2021, mercury imports in the Middle East skyrocketed to X tons, rising by 178% on the previous year. In general, imports showed resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 324%. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, mercury imports surged to $X in 2021. Overall, imports recorded a pronounced increase. The pace of growth was the most pronounced in 2015 with an increase of 152% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates prevails in imports structure, recording X tons, which was near 96% of total imports in 2021. Israel (X tons) held a little share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the mercuries imports, with a CAGR of +43.4% from 2012 to 2021. At the same time, Israel (+14.0%) displayed positive paces of growth. While the share of the United Arab Emirates (+82 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported mercuries in the Middle East, comprising 93% of total imports. The second position in the ranking was held by Israel ($X), with a 5.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates totaled +27.8%.

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, with a decrease of -13.5% against the previous year. Overall, the import price faced a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 38% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (-4.3%).

Source: IndexBox Platform

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