Middle East: Mica Market 2022

Mica Market Size in the Middle East

The Middle Eastern mica market contracted to $X in 2021, declining by -12.7% against the previous year. Over the period under review, consumption, however, enjoyed prominent growth. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Mica Production in the Middle East

In value terms, mica production dropped to $X in 2021 estimated in export price. Overall, production, however, posted significant growth. The pace of growth was the most pronounced in 2015 when the production volume increased by 1,785%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Mica Exports

Exports in the Middle East

In 2021, exports of mica in the Middle East skyrocketed to X tons, increasing by 44% on the previous year. In general, exports continue to indicate a remarkable increase. The growth pace was the most rapid in 2018 when exports increased by 84%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, mica exports surged to $X in 2021. Overall, exports, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2017 with an increase of 74% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, the United Arab Emirates (X tons) represented the key exporter of mica, achieving 75% of total exports. It was distantly followed by Turkey (X tons), committing a 21% share of total exports. Oman (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of +6.7% from 2012 to 2021. At the same time, Turkey (+13.7%) and Oman (+9.9%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +13.7% from 2012-2021. While the share of Turkey (+9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest mica supplying countries in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Oman ($X), with a combined 87% share of total exports.

In terms of the main exporting countries, Turkey, with a CAGR of +0.8%, 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 a decline in the exports figures.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, reducing by -4% against the previous year. Over the period under review, the export price continues to indicate a abrupt decrease. The growth pace was the most rapid in 2013 when the export price increased by 34% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Turkey ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-7.1%), while the other leaders experienced a decline in the export price figures.

Mica Imports

Imports in the Middle East

In 2021, imports of mica in the Middle East reduced to X tons, which is down by -6.2% on the previous year's figure. In general, imports recorded a abrupt decrease. The growth pace was the most rapid in 2013 when imports increased by 126%. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, mica imports fell remarkably to $X in 2021. Over the period under review, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 149% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Kuwait (X tons) represented the major importer of mica, generating 59% of total imports. Iraq (X tons) held the second position in the ranking, distantly followed by Oman (X tons). All these countries together took near 27% share of total imports. Yemen (X tons), Iran (X tons), Israel (X tons) and Turkey (X tons) took a relatively small share of total imports.

Imports into Kuwait increased at an average annual rate of +14.4% from 2012 to 2021. At the same time, Iraq (+19.6%), Yemen (+1.7%) and Israel (+1.1%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +19.6% from 2012-2021. Turkey experienced a relatively flat trend pattern. By contrast, Oman (-11.7%) and Iran (-14.8%) illustrated a downward trend over the same period. Kuwait (+54 p.p.), Iraq (+21 p.p.), Yemen (+3.1 p.p.) and Israel (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) constitutes the largest market for imported mica in the Middle East, comprising 69% of total imports. The second position in the ranking was taken by Iraq ($X), with a 12% share of total imports. It was followed by Iran, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Kuwait stood at +8.4%. In the other countries, the average annual rates were as follows: Iraq (+10.1% per year) and Iran (-16.6% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, with a decrease of -20.6% against the previous year. In general, the import price, however, saw slight growth. The pace of growth was the most pronounced in 2015 an increase of 193% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Turkey ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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