Middle East: Zinc Market 2024

Zinc Market Size in the Middle East

In 2022, the Middle Eastern zinc market increased by X% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a remarkable increase 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, consumption increased by X% against 2020 indices. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Zinc Production in the Middle East

In value terms, zinc production reduced to $X in 2022 estimated in export price. Overall, production posted a remarkable increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Zinc Exports

Exports in the Middle East

In 2022, after three years of growth, there was significant decline in shipments abroad of unwrought zinc, when their volume decreased by X% to X tons. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped rapidly in the following year.

In value terms, zinc exports shrank dramatically to $X in 2022. In general, exports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then declined remarkably in the following year.

Exports by Country

In 2022, Iran (X tons) represented the key exporter of unwrought zinc, mixing up X% of total exports. Turkey (X tons) took the second position in the ranking, followed by the United Arab Emirates (X tons). All these countries together took near X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to zinc exports from Iran stood at X%. At the same time, Turkey (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while Iran saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iran ($X) remains the largest zinc supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports.

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

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, increasing by X% against the previous year. Export price indicated a strong 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, zinc export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey ($X per ton) was amongst the lowest.

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

Zinc Imports

Imports in the Middle East

For the third consecutive year, the Middle East recorded growth in overseas purchases of unwrought zinc, which increased by X% to X tons in 2022. The total import volume 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. The pace of growth was the most pronounced in 2013 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 continue growth in the near future.

In value terms, zinc imports skyrocketed to $X in 2022. Overall, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

Turkey represented the largest importing country with an import of about X tons, which amounted to X% of total imports. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Saudi Arabia (X tons). All these countries together took approx. X% share of total imports. Oman (X tons) took a little share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Oman (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported unwrought zinc in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

In Turkey, zinc imports increased at 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: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated a strong increase 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, zinc import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

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