GCC: Ferro-Manganese Market 2024

Ferro-Manganese Market Size in GCC

In 2023, the GCC ferro-manganese market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, consumption, however, continues to indicate significant growth. Over the period under review, the market attained the peak level in 2023 and is likely to see gradual growth in the near future.

Ferro-Manganese Production in GCC

In value terms, ferro-manganese production surged to $X in 2023 estimated in export price. In general, production enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Ferro-Manganese Exports

Exports in GCC

In 2023, approx. X tons of ferro-manganese were exported in GCC; falling by X% compared with 2022 figures. In general, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, ferro-manganese exports reduced to $X in 2023. Over the period under review, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of export peaked at $X in 2019; however, from 2020 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. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to ferro-manganese exports from the United Arab Emirates stood at X%. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. While the share of the United Arab Emirates (X p.p.) and Oman (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest ferro-manganese supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Oman ($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 amounted to X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, remaining constant against the previous year. Export price indicated a tangible expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ferro-manganese export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked in 2023 and is likely to see gradual growth in the near future.

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

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

Ferro-Manganese Imports

Imports in GCC

In 2023, approx. X tons of ferro-manganese were imported in GCC; with a decrease of X% compared with 2022. Over the period under review, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, ferro-manganese imports shrank notably to $X in 2023. In general, imports, however, saw strong growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then declined dramatically in the following year.

Imports by Country

The United Arab Emirates dominates imports structure, recording X tons, which was near X% of total imports in 2023. Oman (X tons) and Kuwait (X tons) held a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to ferro-manganese imports into the United Arab Emirates stood at X%. At the same time, Oman (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. While the share of the United Arab Emirates (X p.p.) and Oman (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported ferro-manganese in GCC, comprising X% of total imports. The second position in the ranking was held by Oman ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. In the other countries, the average annual rates were as follows: Oman (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, therefore, remained relatively stable against the previous year. In general, the import price, however, showed noticeable growth. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2022, and then contracted in the following year.

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 the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform