MENA: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in MENA

In 2023, the MENA's ferro-alloys market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2022, and then fell modestly in the following year.

Ferro-Alloys Production in MENA

In value terms, ferro-alloys production rose remarkably to $X in 2023 estimated in export price. The total production indicated a perceptible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of production peaked at $X in 2017; however, from 2018 to 2023, production stood at a somewhat lower figure.

Ferro-Alloys Exports

Exports in MENA

In 2023, approx. X tons of ferro-alloys were exported in MENA; approximately reflecting the previous year's figure. Over the period under review, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, ferro-alloys exports dropped to $X in 2023. In general, exports, however, saw resilient growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2022, and then contracted in the following year.

Exports by Country

In 2023, Turkey (X tons), the United Arab Emirates (X tons), Iran (X tons) and Oman (X tons) represented the main exporter of ferro-alloys in MENA, creating X% of total export. Saudi Arabia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Egypt (X%).

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

In value terms, Turkey ($X), the United Arab Emirates ($X) and Iran ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Oman, Egypt and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, which is down by X% against the previous year. Export price indicated a mild 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-alloys export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, 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 more modest paces of growth.

Ferro-Alloys Imports

Imports in MENA

In 2023, supplies from abroad of ferro-alloys decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Total imports indicated notable growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2022, and then fell in the following year.

In value terms, ferro-alloys imports reduced notably to $X in 2023. In general, imports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of import peaked at $X in 2022, and then dropped dramatically in the following year.

Imports by Country

Turkey (X tons) and the United Arab Emirates (X tons) represented roughly X% of total imports in 2023. Iran (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Egypt (X%). The following importers - Oman (X tons) and Algeria (X tons) - together made up X% 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, Turkey ($X), the United Arab Emirates ($X) and Iran ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports. Egypt, Oman and Algeria lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Oman, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, falling by X% against the previous year. Import price indicated modest growth 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. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then fell in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Turkey ($X per ton) and Oman ($X per ton), while Egypt ($X per ton) and Iran ($X per ton) were 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 more modest paces of growth.

Source: IndexBox Platform