Saudi Arabia: Talc And Steatite Market 2024

Talc And Steatite Market Size in Saudi Arabia

The Saudi talc and steatite market contracted remarkably to $X in 2022, falling by -32.1% against the previous year. In general, consumption, however, enjoyed a prominent expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Talc And Steatite Production in Saudi Arabia

In value terms, talc and steatite production reduced to $X in 2022 estimated in export price. Over the period under review, production saw a significant expansion. The growth pace was the most rapid in 2016 when the production volume increased by 478%. Talc and steatite production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Talc And Steatite Exports

Exports from Saudi Arabia

In 2022, after two years of growth, there was significant decline in shipments abroad of talc and steatite, when their volume decreased by -47.5% to X tons. Over the period under review, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 573% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, talc and steatite exports shrank to $X in 2022. In general, exports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 466%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Bahrain (X tons) was the main destination for talc and steatite exports from Saudi Arabia, with a 60% share of total exports. Moreover, talc and steatite exports to Bahrain exceeded the volume sent to the second major destination, Jamaica (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to Bahrain totaled +26.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (0.0% per year) and Jordan (+41.5% per year).

In value terms, the largest markets for talc and steatite exported from Saudi Arabia were Bahrain ($X), Jamaica ($X) and Jordan ($X), with a combined 99% share of total exports.

In terms of the main countries of destination, Jordan, with a CAGR of +30.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average talc and steatite export price amounted to $X per ton, jumping by 68% against the previous year. Over the period under review, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 an increase of 68% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Jamaica ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+43.3%), while the prices for the other major destinations experienced mixed trend patterns.

Talc And Steatite Imports

Imports into Saudi Arabia

In 2021, overseas purchases of talc and steatite increased by 18% to X tons, rising for the second year in a row after two years of decline. In general, total imports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +20.9% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 55%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, talc and steatite imports surged to $X in 2021. Over the period under review, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 31%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Pakistan (X tons), France (X tons) and India (X tons) were the main suppliers of talc and steatite imports to Saudi Arabia, together accounting for 81% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +17.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Pakistan ($X) and India ($X) constituted the largest talc and steatite suppliers to Saudi Arabia, with a combined 64% share of total imports.

France, with a CAGR of +16.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average talc and steatite import price amounted to $X per ton, picking up by 11% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 24% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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