MENA: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in MENA

In 2022, the MENA's iron oxide pigment market decreased by X% to $X, falling for the second year in a row after five years of growth. The total consumption indicated a prominent expansion from 2012 to 2022: its value 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, consumption decreased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Iron Oxide Pigment Production in MENA

In value terms, iron oxide pigment production rose to $X in 2022 estimated in export price. Overall, production, however, posted strong growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Iron Oxide Pigment Exports

Exports in MENA

In 2022, overseas shipments of iron oxide pigments increased by X% to X tons, rising for the second consecutive year after three years of decline. In general, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, iron oxide pigment exports surged to $X in 2022. Overall, exports posted a resilient expansion. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Turkey represented the main exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by the United Arab Emirates (X tons), Morocco (X tons) and Egypt (X tons), together committing a X% share of total exports. Iran (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the iron oxide pigments exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Iran (X%) displayed positive paces of growth. By contrast, Egypt (X%) and Morocco (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) and Morocco (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Egypt (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Egypt ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

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

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price enjoyed notable growth. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced more modest paces of growth.

Iron Oxide Pigment Imports

Imports in MENA

Iron oxide pigment imports contracted markedly to X tons in 2022, dropping by X% compared with 2021 figures. Overall, imports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, iron oxide pigment imports shrank to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons), distantly followed by Kuwait (X tons), Morocco (X tons), the United Arab Emirates (X tons), Iraq (X tons), Israel (X tons), Egypt (X tons) and Algeria (X tons) were the major importers of iron oxide pigments, together making up X% of total imports. Iran (X tons), Jordan (X tons), Qatar (X tons), Tunisia (X tons) and Libya (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to iron oxide pigment imports into Turkey stood at X%. At the same time, Libya (X%), Israel (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Libya emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. Tunisia experienced a relatively flat trend pattern. By contrast, Iraq (X%), Qatar (X%), Algeria (X%), Kuwait (X%), Jordan (X%), Iran (X%), the United Arab Emirates (X%) and Egypt (X%) illustrated a downward trend over the same period. Kuwait (X p.p.), Morocco (X p.p.), Israel (X p.p.), Turkey (X p.p.) and Iraq (X p.p.) significantly strengthened its position in terms of the total imports, while Egypt and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported iron oxide pigments in MENA, comprising X% of total imports. The second position in the ranking was held by Morocco ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

In Turkey, iron oxide pigment imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Morocco (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Morocco ($X per ton), while Libya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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