Middle East: Ferro-Chromium Market 2024

Ferro-Chromium Market Size in the Middle East

The Middle Eastern ferro-chromium market soared to $X in 2023, picking up by X% against the previous year. Overall, consumption saw prominent growth. Over the period under review, the market attained the peak level in 2023 and is expected to retain growth in the near future.

Ferro-Chromium Production in the Middle East

In value terms, ferro-chromium production rose rapidly to $X in 2023 estimated in export price. The total production indicated a moderate expansion 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 increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2023, production remained at a lower figure.

Ferro-Chromium Exports

Exports in the Middle East

In 2023, approx. X tons of ferro-chromium were exported in the Middle East; which is down by X% compared with 2022 figures. Over the period under review, exports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, ferro-chromium exports fell dramatically to $X in 2023. In general, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2022, and then reduced markedly in the following year.

Exports by Country

In 2023, Turkey (X tons) and Oman (X tons) represented the largest exporters of ferro-chromium in the Middle East, together reaching approx. X% of total exports. It was distantly followed by Iran (X tons), creating a X% share of total exports. The United Arab Emirates (X tons) held a minor share of total exports.

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 ($X) remains the largest ferro-chromium supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Oman ($X), with a X% share of total exports. It was followed by Iran, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (X% per year) and Iran (X% per year).

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, waning by X% against the previous year. Export price indicated a moderate increase 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-chromium export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then dropped rapidly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Oman ($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-Chromium Imports

Imports in the Middle East

In 2023, after seven years of growth, there was significant decline in overseas purchases of ferro-chromium, when their volume decreased by X% to X tons. In general, imports, however, saw strong growth. The pace of growth was the most pronounced in 2022 when imports increased by X%. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, ferro-chromium imports shrank to $X in 2023. Over the period under review, imports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

The United Arab Emirates was the main importing country with an import of about X tons, which accounted for X% of total imports. It was distantly followed by Turkey (X tons), generating a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to ferro-chromium imports into the United Arab Emirates stood at X%. At the same time, Turkey (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. Turkey (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, the United Arab Emirates ($X) and Turkey ($X) were the countries with the highest levels of imports in 2023.

In terms of the main importing countries, Turkey, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, growing by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2023, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates stood at $X per ton.

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

Source: IndexBox Platform