Middle East: Silicates Market 2024

Silicates Market Size in the Middle East

In 2021, the Middle Eastern silicates market increased by 6.8% to $X, rising for the fourth consecutive year after two years of decline. The market value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Silicates Production in the Middle East

In value terms, silicates production surged to $X in 2021 estimated in export price. Overall, production, however, showed a resilient expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Silicates Exports

Exports in the Middle East

In 2021, shipments abroad of silicates, commercial alkali metal silicates decreased by -27.9% to X tons, falling for the second year in a row after three years of growth. Overall, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2014 when exports increased by 26%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, silicates exports reduced rapidly to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 30% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia represented the key exporter of silicates, commercial alkali metal silicates in the Middle East, with the volume of exports accounting for X tons, which was near 57% of total exports in 2021. Iran (X tons) ranks second in terms of the total exports with a 23% share, followed by Turkey (8.4%) and the United Arab Emirates (8.2%). Oman (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to silicates exports from Saudi Arabia stood at -7.5%. At the same time, Iran (+26.3%) and Oman (+5.0%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +26.3% from 2012-2021. By contrast, the United Arab Emirates (-6.2%) and Turkey (-10.3%) illustrated a downward trend over the same period. While the share of Iran (+21 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-5.6 p.p.) and Saudi Arabia (-14.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest silicates supplier in the Middle East, comprising 59% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 25% share of total exports. It was followed by Iran, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +4.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (-7.8% per year) and Iran (+24.6% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, increasing by 16% against the previous year. Export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silicates export price increased by +70.6% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by 34%. The level of export peaked in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+11.7%), while the other leaders experienced mixed trends in the export price figures.

Silicates Imports

Imports in the Middle East

In 2021, purchases abroad of silicates, commercial alkali metal silicates was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 20%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, silicates imports soared to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 32% against the previous year. The level of import peaked in 2021 and is likely to continue growth in years to come.

Imports by Country

In 2021, Turkey (X tons) was the largest importer of silicates, commercial alkali metal silicates, comprising 48% of total imports. Syrian Arab Republic (X tons) ranks second in terms of the total imports with a 9.3% share, followed by Yemen (8.4%), Saudi Arabia (6.9%), Jordan (5.1%), the United Arab Emirates (5%) and Oman (4.7%).

Turkey was also the fastest-growing in terms of the silicates, commercial alkali metal silicates imports, with a CAGR of +6.7% from 2012 to 2021. At the same time, Syrian Arab Republic (+3.0%) displayed positive paces of growth. Saudi Arabia experienced a relatively flat trend pattern. By contrast, Yemen (-4.1%), Jordan (-5.1%), Oman (-6.4%) and the United Arab Emirates (-10.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and Syrian Arab Republic increased by +21 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2021, with a combined 68% share of total imports.

In terms of the main importing countries, Turkey, with a CAGR of +7.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, growing by 8.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2020 when the import price increased by 44%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+13.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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