Middle East: Tantalum Market 2024

Tantalum Market Size in the Middle East

After two years of growth, the Middle Eastern tantalum market decreased by -23.5% to $X in 2022. Overall, consumption, however, saw a temperate expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Tantalum Production in the Middle East

In value terms, tantalum production rose to $X in 2022 estimated in export price. The total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 25%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Tantalum Exports

Exports in the Middle East

In 2022, the amount of tantalum exported in the Middle East shrank modestly to X kg, which is down by -3.6% against 2021. In general, exports recorded a deep contraction. The growth pace was the most rapid in 2016 with an increase of 352% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, tantalum exports expanded slightly to $X in 2022. Overall, exports recorded a abrupt shrinkage. The growth pace was the most rapid in 2016 when exports increased by 362%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Israel represented the main exporting country with an export of about X kg, which recorded 78% of total exports. It was distantly followed by the United Arab Emirates (X kg), committing a 21% share of total exports.

Exports from Israel decreased at an average annual rate of -7.9% from 2012 to 2022. At the same time, the United Arab Emirates (+34.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +34.7% from 2012-2022. The United Arab Emirates (+21 p.p.) significantly strengthened its position in terms of the total exports, while Israel saw its share reduced by -21% from 2012 to 2022, respectively.

In value terms, Israel ($X) remains the largest tantalum supplier in the Middle East, comprising 80% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Israel stood at -9.2%.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, picking up by 7.2% against the previous year. In general, the export price, however, showed a mild shrinkage. The pace of growth was the most pronounced in 2019 when the export price increased by 17%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+14.7%).

Tantalum Imports

Imports in the Middle East

In 2022, after two years of growth, there was significant decline in supplies from abroad of tantalum, when their volume decreased by -23.7% to X tons. In general, imports, however, saw a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 183% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then plummeted in the following year.

In value terms, tantalum imports reduced dramatically to $X in 2022. Total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +87.3% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 93%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Israel was the main importing country with an import of about X tons, which resulted at 79% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, followed by Iran (X tons). All these countries together held near 20% share of total imports.

Imports into Israel increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, the United Arab Emirates (+54.8%) and Iran (+32.0%) 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 +54.8% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates and Iran increased by +12 and +6.7 percentage points, respectively.

In value terms, Israel ($X) constitutes the largest market for imported tantalum in the Middle East, comprising 88% of total imports. The second position in the ranking was taken by Iran ($X), with a 9.6% share of total imports.

In Israel, tantalum imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Iran (+39.5% per year) and the United Arab Emirates (+22.5% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, surging by 3% against the previous year. Overall, the import price, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2014 an increase of 16%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the 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 Iran ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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