Middle East: Sulphur Market 2024

Sulphur Market Size in the Middle East

After two years of growth, the Middle Eastern sulphur market decreased by -34.6% to $X in 2022. Over the period under review, consumption, however, continues to indicate a resilient expansion. As a result, consumption attained the peak level of $X, and then shrank dramatically in the following year.

Sulphur Production in the Middle East

In value terms, sulphur production dropped notably to $X in 2022 estimated in export price. Overall, production continues to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 1,025% against the previous year. As a result, production reached the peak level of $X, and then fell rapidly in the following year.

Sulphur Exports

Exports in the Middle East

In 2022, the amount of sulphur exported in the Middle East soared to X tons, picking up by 38% against 2021. Total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.6% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, sulphur exports soared to $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.3% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Qatar (X tons) and the United Arab Emirates (X tons) represented roughly 73% of total exports in 2022. Saudi Arabia (X tons) ranks next in terms of the total exports with a 15% share, followed by Iran (5.3%). The following exporters - Turkey (X tons) and Kuwait (X tons) - each finished at a 3.9% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +20.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 83% share of total exports. Turkey, Iran and Kuwait lagged somewhat behind, together accounting for a further 12%.

Turkey, with a CAGR of +27.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, flattening at the previous year. Over the period under review, the export price, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2018 an increase of 29%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+5.7%), while the other leaders experienced a decline in the export price figures.

Sulphur Imports

Imports in the Middle East

In 2022, purchases abroad of sulphur increased by 55% to X tons, rising for the second consecutive year after two years of decline. In general, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, sulphur imports surged to $X in 2022. 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

In 2022, Israel (X tons) represented the main importer of sulphur, generating 53% of total imports. It was distantly followed by Turkey (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons), Iran (X tons) and Lebanon (X tons), together committing a 46% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to sulphur imports into Israel stood at +5.6%. At the same time, Saudi Arabia (+111.6%), Iran (+81.8%), the United Arab Emirates (+60.8%), Turkey (+8.9%) and Lebanon (+2.6%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +111.6% from 2012-2022. From 2012 to 2022, the share of Saudi Arabia, the United Arab Emirates and Iran increased by +12, +8.7 and +6.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported sulphur in the Middle East, comprising 52% of total imports. The second position in the ranking was taken by Turkey ($X), with a 22% share of total imports. It was followed by Saudi Arabia, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Israel stood at +7.7%. In the other countries, the average annual rates were as follows: Turkey (+14.7% per year) and Saudi Arabia (+85.1% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, with an increase of 45% against the previous year. Import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphur import price increased by +70.7% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+5.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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