Saudi Arabia: Aluminium Market 2024

Aluminium Market Size in Saudi Arabia

The Saudi aluminium market stood at $X in 2022, increasing by 2.9% against the previous year. Over the period under review, consumption continues to indicate a resilient expansion. Aluminium consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Aluminium Production in Saudi Arabia

In value terms, aluminium production rose modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a resilient increase. The pace of growth was the most pronounced in 2014 when the production volume increased by 134%. Aluminium production peaked at $X in 2020; afterwards, it flattened through to 2022.

Aluminium Exports

Exports from Saudi Arabia

Aluminium exports from Saudi Arabia stood at X tons in 2022, picking up by 8.8% compared with the previous year. Overall, exports showed a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of 211%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, aluminium exports expanded markedly to $X in 2022. Over the period under review, exports posted a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 209%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Brazil (X tons) and Thailand (X tons) were the main destinations of aluminium exports from Saudi Arabia, with a combined 53% share of total exports. Malaysia, Italy, the Netherlands, Taiwan (Chinese), South Korea, France and Bangladesh lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +49.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for aluminum (unwrought, not alloyed) exports from Saudi Arabia, comprising 28% of total exports. The second position in the ranking was held by Brazil ($X), with a 14% share of total exports. It was followed by Thailand, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Japan totaled +22.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+48.5% per year) and Thailand (+21.6% per year).

Export Prices by Country

In 2022, the average aluminium export price amounted to $X per ton, almost unchanged from the previous year. Overall, the export price saw a mild setback. The pace of growth was the most pronounced in 2020 an increase of 0.9% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Bangladesh ($X per ton) and Japan ($X per ton), while the average price for exports to South Korea ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+0.3%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Imports

Imports into Saudi Arabia

In 2022, imports of aluminum (unwrought, not alloyed) into Saudi Arabia surged to X tons, picking up by 196% on 2021 figures. Overall, imports, however, saw a noticeable slump. The growth pace was the most rapid in 2019 when imports increased by 737% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, aluminium imports surged to $X in 2022. In general, imports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2019 with an increase of 624% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Bahrain (X tons) constituted the largest aluminium supplier to Saudi Arabia, accounting for a 71% share of total imports. Moreover, aluminium imports from Bahrain exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Bahrain amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+17.2% per year) and China (+14.5% per year).

In value terms, the largest aluminium suppliers to Saudi Arabia were Bahrain ($X), the United Arab Emirates ($X) and China ($X), together comprising 99% of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +21.0%, recorded the highest growth rate of 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

In 2022, the average aluminium import price amounted to $X per ton, waning by -36.4% against the previous year. In general, the import price continues to indicate a slight setback. The pace of growth was the most pronounced in 2021 when the average import price increased by 78%. As a result, import price attained the peak level of $X per ton, and then contracted remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Bahrain ($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 (+3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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