United Arab Emirates: Zinc Market 2024

Zinc Market Size in the United Arab Emirates

The zinc market in the United Arab Emirates soared to $X in 2021, growing by 516% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a moderate increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Zinc Exports

Exports from the United Arab Emirates

Zinc exports from the United Arab Emirates reached X tons in 2021, with an increase of 12% against the year before. Overall, exports showed a buoyant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 103%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, zinc exports rose notably to $X in 2021. In general, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 76% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

China (X tons), Oman (X tons) and Malaysia (X tons) were the main destinations of zinc exports from the United Arab Emirates, together accounting for 47% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +61.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for zinc exported from the United Arab Emirates were China ($X), Oman ($X) and Malaysia ($X), with a combined 52% share of total exports.

China, with a CAGR of +65.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average zinc export price stood at $X per ton in 2021, dropping by -3.7% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 41% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were India ($X per ton) and China ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into the United Arab Emirates

In 2021, purchases abroad of zinc increased by 62% to X tons, rising for the third year in a row after two years of decline. Overall, imports continue to indicate buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, zinc imports skyrocketed to $X in 2021. Over the period under review, imports posted a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, India (X tons) constituted the largest zinc supplier to the United Arab Emirates, accounting for a 28% share of total imports. Moreover, zinc imports from India exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. Oman (X tons) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India totaled +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+233.4% per year) and Oman (+94.1% per year).

In value terms, India ($X) constituted the largest supplier of zinc to the United Arab Emirates, comprising 28% of total imports. The second position in the ranking was taken by Australia ($X), with a 10% share of total imports. It was followed by Oman, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India totaled +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+245.6% per year) and Oman (+85.9% per year).

Import Prices by Country

In 2021, the average zinc import price amounted to $X per ton, growing by 24% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 an increase of 37%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were India ($X per ton) and Oman ($X per ton), while the price for Canada ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Namibia (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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