GCC: Molybdenum Market 2024

Molybdenum Market Size in GCC

The GCC molybdenum market skyrocketed to $X in 2022, jumping by X% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Molybdenum Production in GCC

In value terms, molybdenum production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Molybdenum Exports

Exports in GCC

In 2022, molybdenum exports in GCC dropped sharply to X tons, declining by X% against the year before. Over the period under review, exports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, molybdenum exports contracted significantly to $X in 2022. In general, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of molybdenum, namely the United Arab Emirates, represented more than two-thirds of total export.

The United Arab Emirates was also the fastest-growing in terms of the molybdenum exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest molybdenum supplier in GCC.

In the United Arab Emirates, molybdenum exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, shrinking by X% against the previous year. Export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% 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 X% against 2017 indices. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The level of export peaked at $X per ton in 2021, and then shrank slightly in the following year.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Molybdenum Imports

Imports in GCC

Molybdenum imports dropped rapidly to X tons in 2022, waning by X% compared with the previous year. Over the period under review, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, molybdenum imports reduced sharply to $X in 2022. Overall, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates dominates imports structure, resulting at X tons, which was near X% of total imports in 2022. The following importers - Bahrain (X kg) and Saudi Arabia (X kg) - each accounted for a X% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the molybdenum imports, with a CAGR of X% from 2012 to 2022. At the same time, Bahrain (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported molybdenum in GCC, comprising X% of total imports. The second position in the ranking was held by Bahrain ($X), with a X% share of total imports.

In the United Arab Emirates, molybdenum imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bahrain (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price saw buoyant growth. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices attained the maximum in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bahrain ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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