Middle East: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in the Middle East

In 2022, the Middle Eastern chromium ore and concentrate market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption saw a strong expansion. 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 the Middle East

In value terms, chromium ore and concentrate production stood at $X in 2022 estimated in export price. In general, production, however, recorded a perceptible reduction. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Chromium Ores and Concentrates

Exports in the Middle East

In 2022, shipments abroad of chromium ores and concentrates increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, saw a noticeable decline. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, chromium ore and concentrate exports soared to $X in 2022. Overall, exports, however, continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey represented the key exporting country with an export of about X tons, which finished at X% of total exports. Oman (X tons) took the second position in the ranking, distantly followed by Iran (X tons). All these countries together held near X% share of total exports.

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 the Middle East, with a CAGR of X% from 2012-2022. By contrast, Iran (X%) illustrated a downward trend over the same period. While the share of Oman (X p.p.) and Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Iran (X p.p.) displayed negative dynamics.

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

In Turkey, chromium ore and concentrate exports contracted by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (X% per year) and Iran (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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 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 the Middle East

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 setback. The pace of growth appeared the most rapid in 2017 with an increase of X%. 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 fell modestly to $X in 2022. Over the period under review, imports recorded a slight setback. The most prominent rate of growth was recorded 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 remained at a somewhat lower figure.

Imports by Country

Turkey prevails in imports structure, recording X tons, which was near X% of total imports in 2022. It was distantly followed by Oman (X tons), committing 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 the Middle East, 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 Turkey (X p.p.) and Oman (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of 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 ($X) constitutes the largest market for imported chromium ores and concentrates in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports. It was followed by Iran, with a X% share.

In Turkey, chromium ore and concentrate imports plunged 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

In 2022, the import price in the Middle East amounted to $X per ton, 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 stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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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