United Arab Emirates: Molybdenum Market 2024

Molybdenum Market Size in the United Arab Emirates

The molybdenum market in the United Arab Emirates surged to $X in 2022, jumping by 29% against the previous year. Overall, consumption showed a relatively flat trend pattern. Molybdenum consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Molybdenum Production in the United Arab Emirates

In value terms, molybdenum production rose to $X in 2022 estimated in export price. Overall, the total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.1% 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 -3.4% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 38% against the previous year. Molybdenum production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Molybdenum Exports

Exports from the United Arab Emirates

In 2022, exports of molybdenum from the United Arab Emirates shrank rapidly to X tons, with a decrease of -44.8% compared with the previous year. Overall, exports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 20,590% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, molybdenum exports fell sharply to $X in 2022. In general, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 24,383%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), Iran (X tons) and India (X tons) were the main destinations of molybdenum exports from the United Arab Emirates, together comprising 99.9% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iran (with a CAGR of +30.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Iran ($X) and India ($X) appeared to be the largest markets for molybdenum exported from the United Arab Emirates worldwide.

Among the main countries of destination, Iran, with a CAGR of +31.0%, 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 molybdenum export price amounted to $X per ton, declining by -9% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, molybdenum export price increased by +91.9% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 46% against the previous year. The export price peaked at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to India ($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 France (+27.3%), while the prices for the other major destinations experienced more modest paces of growth.

Molybdenum Imports

Imports into the United Arab Emirates

In 2022, after two years of decline, there was decline in supplies from abroad of molybdenum, when their volume decreased by 0% to X tons. Over the period under review, imports recorded a resilient expansion. The growth pace was the most rapid in 2019 with an increase of 192% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, molybdenum imports fell to $X in 2022. In general, imports showed a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 216% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of molybdenum to the United Arab Emirates, accounting for a 99.9% share of total imports. It was followed by the UK (X kg), with less than 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +20.4%.

In value terms, China ($X) constituted the largest supplier of molybdenum to the United Arab Emirates, comprising 100% of total imports. The second position in the ranking was held by the UK ($X), with a 0.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +29.9%.

Import Prices by Country

The average molybdenum import price stood at $X per ton in 2022, waning by -14.8% against the previous year. Over the period under review, the import price, however, saw a prominent increase. The pace of growth was the most pronounced in 2018 an increase of 52% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+23.5%).

Source: IndexBox Platform

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