Saudi Arabia: Market for Zirconium Ores and Concentrates 2023

Market Size for Zirconium Ores and Concentrates in Saudi Arabia

The Saudi zirconium ore and concentrate market surged to $X in 2021, with an increase of 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a deep contraction. Zirconium ore and concentrate consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Zirconium Ores and Concentrates

Exports from Saudi Arabia

For the ninth consecutive year, Saudi Arabia recorded decline in shipments abroad of zirconium ores and concentrates, which decreased by -19.9% to X kg in 2021. Over the period under review, exports showed a sharp setback. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, zirconium ore and concentrate exports fell remarkably to $X in 2021. Overall, exports saw a significant contraction. The smallest decline of -20% was in 2018. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X kg) was the main destination for zirconium ore and concentrate exports from Saudi Arabia, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Canada totaled -20.9%.

In value terms, Canada ($X) also remains the key foreign market for zirconium ores and concentrates exports from Saudi Arabia.

From 2012 to 2021, the average annual growth rate of value to Canada stood at -27.8%.

Export Prices by Country

In 2021, the average zirconium ore and concentrate export price amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the export price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2015 an increase of 41%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2012 to 2021, the rate of growth in terms of prices for Canada amounted to -8.7% per year.

Imports of Zirconium Ores and Concentrates

Imports into Saudi Arabia

Zirconium ore and concentrate imports into Saudi Arabia reached X tons in 2021, increasing by 14% compared with 2020. Over the period under review, imports, however, faced a deep reduction. The pace of growth appeared the most rapid in 2014 when imports increased by 83% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, zirconium ore and concentrate imports surged to $X in 2021. In general, imports, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2014 with an increase of 47% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, India (X tons) constituted the largest zirconium ore and concentrate supplier to Saudi Arabia, with a 63% share of total imports. Moreover, zirconium ore and concentrate imports from India exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. The third position in this ranking was held by Malaysia (X tons), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume from India amounted to -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+1.6% per year) and Malaysia (+42.2% per year).

In value terms, India ($X) constituted the largest supplier of zirconium ores and concentrates to Saudi Arabia, comprising 60% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 13% share of total imports. It was followed by China, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India amounted to -10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+59.4% per year) and China (-4.1% per year).

Import Prices by Country

In 2021, the average zirconium ore and concentrate import price amounted to $X per ton, increasing by 3.1% against the previous year. In general, the import price, however, recorded a mild contraction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 53%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Malaysia ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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