Middle East: Roasted Iron Pyrites Market 2024

Roasted Iron Pyrites Market Size in the Middle East

In 2021, the Middle Eastern roasted iron pyrites market decreased by -2.3% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +11.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +11.1% against 2018 indices. The level of consumption peaked at $X in 2020, and then dropped slightly in the following year.

Roasted Iron Pyrites Production in the Middle East

In value terms, roasted iron pyrites production declined to $X in 2021 estimated in export price. The total production indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +11.6% against 2018 indices. The pace of growth appeared the most rapid in 2015 with an increase of 93% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Roasted Iron Pyrites Exports

Exports in the Middle East

In 2021, shipments abroad of roasted iron pyrites increased by 5,186% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, recorded a abrupt shrinkage. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, roasted iron pyrites exports surged to $X in 2021. In general, exports saw strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The shipments of the one major exporters of roasted iron pyrites, namely Turkey, represented more than two-thirds of total export.

Turkey was also the fastest-growing in terms of the roasted iron pyrites exports, with a CAGR of -6.1% from 2012 to 2021. From 2012 to 2021, the share of Turkey increased by +32 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest roasted iron pyrites supplier in the Middle East.

In Turkey, roasted iron pyrites exports expanded at an average annual rate of +16.1% over the period from 2012-2021.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, jumping by 112% against the previous year. Overall, the export price showed a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the rate of growth in terms of prices for Turkey amounted to +23.6% per year.

Roasted Iron Pyrites Imports

Imports in the Middle East

For the fourth consecutive year, the Middle East recorded growth in overseas purchases of roasted iron pyrites, which increased by 11% to X tons in 2021. Over the period under review, imports, however, faced a abrupt decrease. The most prominent rate of growth was recorded in 2013 with an increase of 521%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, roasted iron pyrites imports shrank to $X in 2021. Overall, imports, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2013 when imports increased by 159% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Kuwait dominates imports structure, finishing at X tons, which was approx. 90% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), generating a 6.7% share of total imports. Lebanon (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to roasted iron pyrites imports into Kuwait stood at -12.2%. At the same time, the United Arab Emirates (+39.3%) and Lebanon (+21.4%) 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 +39.3% from 2012-2021. While the share of the United Arab Emirates (+6.6 p.p.) and Lebanon (+3.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Kuwait (-9.1 p.p.) displayed negative dynamics.

In value terms, Kuwait ($X) constitutes the largest market for imported roasted iron pyrites in the Middle East, comprising 78% of total imports. The second position in the ranking was held by Lebanon ($X), with a 9.4% share of total imports.

In Kuwait, roasted iron pyrites imports plunged by an average annual rate of -19.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Lebanon (+17.2% per year) and the United Arab Emirates (+17.7% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, waning by -21.1% against the previous year. Over the period under review, the import price showed a abrupt descent. The most prominent rate of growth was recorded in 2014 an increase of 411%. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Lebanon ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lebanon (-3.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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