MENA: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in MENA

In 2022, the MENA's ferro-alloys market increased by X% to $X, rising for the second year in a row after three years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2022.

Ferro-Alloys Production in MENA

In value terms, ferro-alloys production amounted to $X in 2022 estimated in export price. The total production indicated a temperate 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, production increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

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Ferro-Alloys Exports

Exports in MENA

In 2022, exports of ferro-alloys in MENA dropped sharply to X tons, declining by X% on the previous year. Over the period under review, exports, however, saw a strong increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then dropped rapidly in the following year.

In value terms, ferro-alloys exports dropped notably to $X in 2022. In general, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then fell significantly in the following year.

Exports by Country

Turkey was the major exporting country with an export of around X tons, which recorded X% of total exports. Iran (X tons) ranks second in terms of the total exports with a X% share, followed by Oman (X%), Saudi Arabia (X%) and Egypt (X%). The following exporters - Kuwait (X tons) and the United Arab Emirates (X tons) - each accounted for a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to ferro-alloys exports from Turkey stood at X%. At the same time, Kuwait (X%), Oman (X%), Iran (X%), Saudi Arabia (X%) and Egypt (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported 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. While the share of Oman (X p.p.), Iran (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.), Egypt (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest ferro-alloys supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Iran ($X), with an X% share of total exports. It was followed by Oman, with an X% share.

In Turkey, ferro-alloys exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (X% per year) and Oman (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, increasing by X% against the previous year. Export price indicated noticeable growth 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, ferro-alloys export price increased by X% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Ferro-Alloys Imports

Imports in MENA

In 2022, approx. X tons of ferro-alloys were imported in MENA; dropping by X% on the year before. Total imports indicated a pronounced increase from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, ferro-alloys imports expanded notably to $X in 2022. In general, imports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Turkey was the largest importing country with an import of around X tons, which accounted for X% of total imports. It was distantly followed by Iran (X tons), Egypt (X tons) and the United Arab Emirates (X tons), together mixing up a X% share of total imports. The following importers - Saudi Arabia (X tons), Oman (X tons) and Algeria (X tons) - each finished at a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to ferro-alloys imports into Turkey stood at X%. At the same time, Algeria (X%), Oman (X%), Iran (X%), Egypt (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of Iran (X p.p.), Egypt (X p.p.), Oman (X p.p.) and Algeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Turkey (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported ferro-alloys in MENA, comprising X% of total imports. The second position in the ranking was held by Egypt ($X), with a X% share of total imports. It was followed by Iran, with a X% share.

In Turkey, ferro-alloys imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Egypt (X% per year) and Iran (X% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, rising by X% against the previous year. Import price indicated a noticeable 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, ferro-alloys import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per ton), while Algeria ($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 more modest paces of growth.

Source: IndexBox Platform