Middle East: Zinc Market 2025

Zinc Market Size in the Middle East

In 2022, the Middle Eastern zinc market increased by 3.2% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +19.8% against 2020 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Zinc Production in the Middle East

In value terms, zinc production reduced to $X in 2022 estimated in export price. The total production indicated a tangible expansion from 2012 to 2022: its value 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, production increased by +8.4% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 37% 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.

Zinc Exports

Exports in the Middle East

In 2022, shipments abroad of zinc, unwrought (not alloyed) increased by 33% to X tons, rising for the third year in a row after two years of decline. In general, exports, however, showed a relatively flat trend pattern. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, zinc exports skyrocketed to $X in 2022. Over the period under review, exports recorded pronounced growth. The pace of growth appeared the most rapid in 2017 with an increase of 68%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

Iran was the main exporter of zinc, unwrought (not alloyed) in the Middle East, with the volume of exports finishing at X tons, which was near 64% of total exports in 2022. Turkey (X tons) ranks second in terms of the total exports with a 26% share, followed by the United Arab Emirates (9.1%).

Exports from Iran decreased at an average annual rate of -3.0% from 2012 to 2022. At the same time, Turkey (+42.1%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +42.1% from 2012-2022. By contrast, the United Arab Emirates (-7.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey increased by +25 percentage points.

In value terms, Iran ($X) remains the largest zinc supplier in the Middle East, comprising 66% of total exports. The second position in the ranking was held by Turkey ($X), with a 24% share of total exports.

In Iran, zinc exports increased at an average annual rate of +3.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (+49.1% per year) and the United Arab Emirates (-3.1% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, surging by 21% against the previous year. Export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc export price increased by +50.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 36%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Iran ($X per ton), while Turkey ($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 (+6.4%), while the other leaders experienced more modest paces of growth.

Zinc Imports

Imports in the Middle East

In 2022, approx. X tons of zinc, unwrought (not alloyed) were imported in the Middle East; surging by 2% on the previous year. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 16%. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, zinc imports soared to $X in 2022. In general, imports posted a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 51%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

Turkey was the main importer of zinc, unwrought (not alloyed) in the Middle East, with the volume of imports accounting for X tons, which was approx. 73% of total imports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 14% share, followed by Saudi Arabia (10%).

Imports into Turkey increased at an average annual rate of +4.6% from 2012 to 2022. At the same time, the United Arab Emirates (+10.8%) 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 +10.8% from 2012-2022. By contrast, Saudi Arabia (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and the United Arab Emirates increased by +7 and +6.9 percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported zinc, unwrought (not alloyed) in the Middle East, comprising 74% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 14% share of total imports.

In Turkey, zinc imports expanded at an average annual rate of +10.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+16.9% per year) and Saudi Arabia (-1.3% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, rising by 16% against the previous year. Import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc import price increased by +51.0% against 2020 indices. The pace of growth was the most pronounced in 2017 when the import price increased by 39%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Saudi Arabia ($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 (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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