Saudi Arabia: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in Saudi Arabia

In 2022, the Saudi iron oxide pigment market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, enjoyed a strong increase. Iron oxide pigment consumption peaked at $X in 2021, and then contracted significantly in the following year.

Iron Oxide Pigment Production in Saudi Arabia

In value terms, iron oxide pigment production expanded significantly to $X in 2022 estimated in export price. Over the period under review, production showed strong growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Iron Oxide Pigment Exports

Exports from Saudi Arabia

Iron oxide pigment exports from Saudi Arabia surged to X tons in 2021, growing by X% on 2020 figures. In general, exports, however, saw a abrupt setback. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron oxide pigment exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a perceptible shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Jordan (X tons) was the main destination for iron oxide pigment exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, iron oxide pigment exports to Jordan exceeded the volume sent to the second major destination, Turkey (X tons), sixfold. The third position in this ranking was held by Kuwait (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Jordan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Kuwait (X% per year).

In value terms, the largest markets for iron oxide pigment exported from Saudi Arabia were the United Arab Emirates ($X), Kuwait ($X) and Jordan ($X), together accounting for X% of total exports.

Kuwait, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average iron oxide pigment export price amounted to $X per ton, growing by X% against the previous year. In general, the export price enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2014 an increase of X%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Jordan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (X%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Oxide Pigment Imports

Imports into Saudi Arabia

In 2021, approx. X tons of iron oxide pigments were imported into Saudi Arabia; increasing by X% on the year before. In general, imports, however, continue to indicate a noticeable setback. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, iron oxide pigment imports surged to $X in 2021. Overall, imports, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Germany (X tons) and India (X tons) were the main suppliers of iron oxide pigment imports to Saudi Arabia, with a combined X% share of total imports. South Korea and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of iron oxide pigments to Saudi Arabia, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the UK (X% per year).

Import Prices by Country

The average iron oxide pigment import price stood at $X per ton in 2021, with a decrease of X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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