Middle East: Market for Zirconium Ores and Concentrates 2024

Market Size for Zirconium Ores and Concentrates in the Middle East

The Middle Eastern zirconium ore and concentrate market expanded rapidly to $X in 2023, with an increase of X% against the previous year. Over the period under review, consumption, however, recorded a mild decline. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Production of Zirconium Ores and Concentrates in the Middle East

In value terms, zirconium ore and concentrate production rose modestly to $X in 2023 estimated in export price. Over the period under review, production saw a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

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Exports of Zirconium Ores and Concentrates

Exports in the Middle East

Zirconium ore and concentrate exports soared to X tons in 2023, increasing by X% compared with the year before. In general, exports posted a significant expansion. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. The volume of export peaked in 2023 and is expected to retain growth in the immediate term.

In value terms, zirconium ore and concentrate exports reduced slightly to $X in 2023. Overall, exports enjoyed a resilient expansion. The growth pace was the most rapid in 2015 with an increase of X%. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, accounting for X tons, which was near X% of total exports in 2023. Turkey (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. 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 2012-2023. From 2012 to 2023, the share of Turkey increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, declining by X% against the previous year. In general, the export price showed a abrupt descent. The pace of growth was the most pronounced in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Imports of Zirconium Ores and Concentrates

Imports in the Middle East

In 2023, the amount of zirconium ores and concentrates imported in the Middle East surged to X tons, with an increase of X% on the previous year's figure. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, zirconium ore and concentrate imports soared to $X in 2023. Overall, imports, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of zirconium ore and concentrate imports in 2023 were Turkey (X tons), Iran (X tons) and the United Arab Emirates (X tons), together resulting at X% of total import. It was distantly followed by Saudi Arabia (X tons), constituting a X% share of total imports. Oman (X tons) held a little share of total imports.

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

In value terms, the largest zirconium ore and concentrate importing markets in the Middle East were Turkey ($X), Iran ($X) and the United Arab Emirates ($X), with a combined X% share of total imports. Saudi Arabia and Oman lagged somewhat behind, together accounting for a further X%.

Oman, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, the import price saw a pronounced decrease. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, 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 Turkey ($X per ton), while Saudi Arabia ($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 a decline in the import price figures.

Source: IndexBox Platform