Middle East: Refined Lead Market 2024

Refined Lead Market Size in the Middle East

In 2022, the Middle Eastern refined lead market increased by 3% to $X, rising for the second year in a row after two years of decline. The total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +13.5% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Refined Lead Production in the Middle East

In value terms, refined lead production contracted modestly to $X in 2022 estimated in export price. The total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 +8.2% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 34% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Refined Lead Exports

Exports in the Middle East

In 2022, the amount of refined lead (unwrought) exported in the Middle East reduced to X tons, declining by -5.3% on 2021 figures. Overall, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2015 when exports increased by 94% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, refined lead exports dropped to $X in 2022. In general, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 69%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons) and Lebanon (X tons) represented the main exporters of refined lead (unwrought) in the Middle East, together finishing at approx. 53% of total exports. Israel (X tons) ranks next in terms of the total exports with a 14% share, followed by Turkey (11%), Syrian Arab Republic (9.1%) and Iran (7.7%). Jordan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Jordan (with a CAGR of +45.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest refined lead supplying countries in the Middle East were the United Arab Emirates ($X), Lebanon ($X) and Israel ($X), together comprising 68% of total exports. Turkey, Syrian Arab Republic, Iran and Jordan lagged somewhat behind, together comprising a further 31%.

In terms of the main exporting countries, Jordan, with a CAGR of +54.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, stabilizing at the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 14%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Jordan ($X per ton) and Israel ($X per ton), while Iran ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+6.1%), while the other leaders experienced more modest paces of growth.

Refined Lead Imports

Imports in the Middle East

In 2022, supplies from abroad of refined lead (unwrought) increased by 16% to X tons, rising for the third year in a row after two years of decline. Total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.5% 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 +32.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 23%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, refined lead imports soared to $X in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 +51.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 33%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Turkey dominates imports structure, reaching X tons, which was near 87% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), achieving a 6.3% share of total imports. The following importers - Oman (X tons) and Iran (X tons) - each finished at a 5.5% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to refined lead imports into Turkey stood at +5.6%. At the same time, Iran (+33.4%) and the United Arab Emirates (+3.4%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +33.4% from 2012-2022. By contrast, Oman (-1.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Iran increased by +16 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported refined lead (unwrought) in the Middle East, comprising 87% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6% share of total imports. It was followed by Iran, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled +5.7%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+2.2% per year) and Iran (+37.4% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, approximately equating the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 16%. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Iran ($X per ton) and Turkey ($X per ton), while Oman ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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