MENA: Zinc Oxide Market 2024

Zinc Oxide Market Size in MENA

The MENA's zinc oxide market skyrocketed to $X in 2023, jumping by X% against the previous year. Over the period under review, consumption enjoyed a resilient increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Zinc Oxide Production in MENA

In value terms, zinc oxide production surged to $X in 2023 estimated in export price. Overall, production recorded a resilient increase. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2023, production growth failed to regain momentum.

Zinc Oxide Exports

Exports in MENA

In 2023, overseas shipments of zinc oxide and zinc peroxide decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports reached the peak of X tons. From 2015 to 2023, the growth of the exports failed to regain momentum.

In value terms, zinc oxide exports dropped significantly to $X in 2023. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2022, and then reduced rapidly in the following year.

Exports by Country

In 2023, Turkey (X tons) was the largest exporter of zinc oxide and zinc peroxide, creating X% of total exports. Saudi Arabia (X tons) held the second position in the ranking, followed by Egypt (X tons). All these countries together took near X% share of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of zinc oxide and zinc peroxide. At the same time, Egypt (X%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2023. Saudi Arabia experienced a relatively flat trend pattern. From 2012 to 2023, the share of Turkey, Egypt and Saudi Arabia increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest zinc oxide supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Egypt (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2023, which is down by X% against the previous year. In general, the export price, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then dropped in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Zinc Oxide Imports

Imports in MENA

In 2023, approx. X tons of zinc oxide and zinc peroxide were imported in MENA; reducing by X% compared with the previous year. Over the period under review, imports saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, zinc oxide imports dropped modestly to $X in 2023. Overall, imports saw a deep contraction. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Egypt represented the main importing country with an import of around X tons, which accounted for X% of total imports. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (X%) and Israel (X%). Saudi Arabia (X tons), Jordan (X tons), Morocco (X tons), Qatar (X tons), Tunisia (X tons), Iran (X tons) and Algeria (X tons) held a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to zinc oxide imports into Egypt stood at X%. At the same time, Iran (X%), Algeria (X%), the United Arab Emirates (X%) and Jordan (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. Morocco experienced a relatively flat trend pattern. By contrast, Tunisia (X%), Saudi Arabia (X%), Qatar (X%), Turkey (X%) and Israel (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Jordan (X p.p.), Iran (X p.p.), Egypt (X p.p.) and Algeria (X p.p.) significantly strengthened its position in terms of the total imports, while Qatar, Israel and Turkey saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Egypt ($X) constitutes the largest market for imported zinc oxide and zinc peroxide in MENA, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

In Egypt, zinc oxide imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, faced a abrupt decrease. The pace of growth appeared the most rapid in 2022 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform