MENA: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in MENA

The MENA's ferro-chromium market skyrocketed to $X in 2023, picking up by X% against the previous year. Over the period under review, consumption saw a measured increase. The level of consumption peaked in 2023 and is likely to see gradual growth in the near future.

Ferro-Chromium Production in MENA

In value terms, ferro-chromium production rose markedly to $X in 2023 estimated in export price. The total production indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2023, production stood at a somewhat lower figure.

Ferro-Chromium Exports

Exports in MENA

In 2023, the amount of ferro-chromium exported in MENA declined to X tons, which is down by X% compared with the previous year. Over the period under review, exports, however, saw a buoyant 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. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, ferro-chromium exports declined remarkably to $X in 2023. Overall, exports, however, showed prominent growth. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then shrank notably in the following year.

Exports by Country

In 2023, Turkey (X tons) and Oman (X tons) represented the main exporters of ferro-chromium in MENA, together mixing up X% of total exports. It was distantly followed by Iran (X tons), mixing up a X% share of total exports. The United Arab Emirates (X tons) held a relatively small share of total exports.

From 2012 to 2023, the biggest increases were recorded for Oman (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

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

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: Oman (X% per year) and Iran (X% per year).

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, reducing by X% against the previous year. Export price indicated a notable increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ferro-chromium export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced dramatically in the following year.

Prices varied noticeably by country of origin: 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 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.

Ferro-Chromium Imports

Imports in MENA

In 2023, after eight years of growth, there was significant decline in overseas purchases of ferro-chromium, when their volume decreased by X% to X tons. In general, imports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2022 when imports increased by X%. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, ferro-chromium imports reduced to $X in 2023. Overall, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

The United Arab Emirates was the main importing country with an import of about X tons, which amounted to X% of total imports. It was distantly followed by Turkey (X tons), making up a X% share of total imports. Egypt (X tons) held a little share of total imports.

From 2012 to 2023, average annual rates of growth with regard to ferro-chromium imports into the United Arab Emirates stood at X%. At the same time, Turkey (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. Egypt experienced a relatively flat trend pattern. From 2012 to 2023, the share of Turkey increased by X percentage points.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Egypt ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

In terms of the main importing countries, Turkey, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2023, the import prices failed to regain momentum.

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 Egypt ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform