MENA: Molybdenum Market 2023

Molybdenum Market Size in MENA

The MENA's molybdenum market dropped slightly to $X in 2022, declining by -2.2% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Molybdenum Production in MENA

In value terms, molybdenum production declined slightly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 33%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Molybdenum Exports

Exports in MENA

In 2022, molybdenum exports in MENA declined notably to X tons, falling by -48.2% on the year before. In general, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 17,629% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, molybdenum exports contracted notably to $X in 2022. Overall, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 22,045% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, the United Arab Emirates (X tons) was the key exporter of molybdenum in MENA, comprising 100% of total export.

The United Arab Emirates was also the fastest-growing in terms of the molybdenum exports, with a CAGR of +19.3% from 2012 to 2022. From 2012 to 2022, the share of the United Arab Emirates increased by +5.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest molybdenum supplier in MENA.

In the United Arab Emirates, molybdenum exports expanded at an average annual rate of +20.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, with a decrease of -7.6% against the previous year. Export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, molybdenum export price increased by +91.7% against 2017 indices. The growth pace was the most rapid in 2018 an increase of 46%. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then shrank in the following year.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +1.2% per year.

Molybdenum Imports

Imports in MENA

In 2022, after two years of growth, there was significant decline in supplies from abroad of molybdenum, when their volume decreased by -40.7% to X tons. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 224%. Over the period under review, imports reached the peak figure at X tons in 2021, and then contracted remarkably in the following year.

In value terms, molybdenum imports reduced notably to $X in 2022. Over the period under review, imports, however, saw a mild expansion. The pace of growth was the most pronounced in 2018 when imports increased by 116% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then contracted sharply in the following year.

Imports by Country

The United Arab Emirates was the main importing country with an import of about X tons, which accounted for 65% of total imports. Turkey (X tons) held a 24% share (based on physical terms) of total imports, which put it in second place, followed by Israel (6.3%). Iran (X kg) held a relatively small share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the molybdenum imports, with a CAGR of +14.8% from 2012 to 2022. At the same time, Israel (+4.6%) displayed positive paces of growth. By contrast, Iran (-9.4%) and Turkey (-9.5%) illustrated a downward trend over the same period. The United Arab Emirates (+48 p.p.) and Israel (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Iran and Turkey saw its share reduced by -5.1% and -43.3% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Iran ($X) were the countries with the highest levels of imports in 2022, together accounting for 91% of total imports.

The United Arab Emirates, with a CAGR of +23.7%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, jumping by 25% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, molybdenum import price increased by +33.0% against 2020 indices. The pace of growth was the most pronounced in 2017 when the import price increased by 66%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 the United Arab Emirates (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :