MENA: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in MENA

In 2022, after two years of decline, there was growth in the MENA's chromium ore and concentrate market, when its value increased by X% to $X. Over the period under review, consumption enjoyed prominent growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Chromium Ores and Concentrates in MENA

In value terms, chromium ore and concentrate production stood at $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Chromium Ores and Concentrates

Exports in MENA

In 2022, shipments abroad of chromium ores and concentrates increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, chromium ore and concentrate exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a noticeable curtailment. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey represented the major exporting country with an export of around X tons, which finished at X% of total exports. Oman (X tons) ranks second in terms of the total exports with a X% share, followed by Iran (X%).

From 2012 to 2022, average annual rates of growth with regard to chromium ore and concentrate exports from Turkey stood at X%. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. By contrast, Iran (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Oman and Turkey increased by X and X percentage points, respectively.

In value terms, Turkey ($X) remains the largest chromium ore and concentrate supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Oman ($X), with a X% share of total exports.

From 2012 to 2022, 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: Oman (X% per year) and Iran (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain 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 Turkey ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the export price figures.

Imports of Chromium Ores and Concentrates

Imports in MENA

In 2022, supplies from abroad of chromium ores and concentrates decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, imports recorded a mild reduction. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, chromium ore and concentrate imports shrank slightly to $X in 2022. In general, imports saw a mild contraction. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Turkey prevails in imports structure, resulting at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Oman (X tons), generating a X% share of total imports. The United Arab Emirates (X tons) and Iran (X tons) followed a long way behind the leaders.

Turkey experienced a relatively flat trend pattern with regard to volume of imports of chromium ores and concentrates. At the same time, Oman (X%) and Iran (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. Turkey (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported chromium ores and concentrates in MENA, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports. It was followed by Iran, with a X% share.

In Turkey, chromium ore and concentrate imports shrank by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Oman (X% per year) and Iran (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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