Middle East: Tin Bar Market 2024

Tin Bar Market Size in the Middle East

The Middle Eastern tin bar market dropped to $X in 2022, which is down by -8.6% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Tin Bar Production in the Middle East

In value terms, tin bar production dropped to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 54% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Tin Bar Exports

Exports in the Middle East

In 2022, approx. X tons of tin bars, rods, profiles and wires were exported in the Middle East; jumping by 295% on the year before. Overall, exports enjoyed a strong expansion. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, tin bar exports skyrocketed to $X in 2022. In general, exports recorded moderate growth. The most prominent rate of growth was recorded in 2019 when exports increased by 491%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the key exporting country with an export of around X tons, which resulted at 64% of total exports. It was distantly followed by Turkey (X tons), comprising a 34% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +33.0%).

In value terms, Turkey ($X) remains the largest tin bar supplier in the Middle East, comprising 88% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total exports.

In Turkey, tin bar exports expanded at an average annual rate of +33.4% over the period from 2012-2022.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, shrinking by -50.5% against the previous year. Overall, the export price showed a slight curtailment. The most prominent rate of growth was recorded in 2021 an increase of 162%. As a result, the export price reached the peak level of $X per ton, and then reduced sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+0.3%).

Tin Bar Imports

Imports in the Middle East

In 2022, the amount of tin bars, rods, profiles and wires imported in the Middle East soared to X tons, picking up by 17% on the previous year. Overall, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2014 when imports increased by 61%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, tin bar imports soared to $X in 2022. Over the period under review, imports recorded a buoyant increase. The growth pace was the most rapid in 2021 with an increase of 77%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Turkey represented the largest importer of tin bars, rods, profiles and wires in the Middle East, with the volume of imports reaching X tons, which was approx. 64% of total imports in 2022. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Israel (X tons). All these countries together held near 29% share of total imports. The following importers - Iran (X tons), Iraq (X tons) and Syrian Arab Republic (X tons) - each resulted at a 6% share of total imports.

Turkey was also the fastest-growing in terms of the tin bars, rods, profiles and wires imports, with a CAGR of +19.9% from 2012 to 2022. At the same time, the United Arab Emirates (+11.6%) and Iran (+3.1%) displayed positive paces of growth. By contrast, Israel (-1.9%), Syrian Arab Republic (-2.1%) and Iraq (-14.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and the United Arab Emirates increased by +46 and +9.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported tin bars, rods, profiles and wires in the Middle East, comprising 56% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 24% share of total imports. It was followed by Israel, with a 13% share.

In Turkey, tin bar imports increased at an average annual rate of +12.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+19.6% per year) and Israel (+3.6% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, falling by -1.8% against the previous year. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tin bar import price increased by +62.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 65% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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