Middle East: Zirconium Market 2024

Zirconium Market Size in the Middle East

For the fifth consecutive year, the Middle Eastern zirconium market recorded decline in sales value, which decreased by X% to $X in 2023. Over the period under review, consumption continues to indicate a abrupt slump. As a result, consumption attained the peak level of $X. From 2015 to 2023, the growth of the market failed to regain momentum.

Zirconium Production in the Middle East

In value terms, zirconium production dropped to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2023, production growth remained at a somewhat lower figure.

Zirconium Exports

Exports in the Middle East

In 2023, approx. X tons of zirconium were exported in the Middle East; with a decrease of X% on the previous year's figure. In general, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, zirconium exports dropped remarkably to $X in 2023. Overall, exports, however, showed a significant expansion. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2023. It was distantly followed by Israel (X kg), achieving a X% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the zirconium exports, with a CAGR of X% from 2012 to 2023. At the same time, Israel (X%) displayed positive paces of growth. From 2012 to 2023, the share of the United Arab Emirates increased by X percentage points.

In value terms, the United Arab Emirates ($X) remains the largest zirconium supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Israel ($X), with a X% share of total exports.

In the United Arab Emirates, zirconium exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, dropping by X% against the previous year. In general, the export price, however, saw a pronounced increase. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($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 the United Arab Emirates (X%).

Zirconium Imports

Imports in the Middle East

In 2023, supplies from abroad of zirconium increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. In general, imports enjoyed a buoyant expansion. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, zirconium imports skyrocketed to $X in 2023. Over the period under review, imports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2019 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Saudi Arabia prevails in imports structure, recording X tons, which was near X% of total imports in 2023. It was distantly followed by Israel (X tons) and Iran (X tons), together comprising a X% share of total imports.

Saudi Arabia was also the fastest-growing in terms of the zirconium imports, with a CAGR of X% from 2012 to 2023. At the same time, Iran (X%) displayed positive paces of growth. By contrast, Israel (X%) illustrated a downward trend over the same period. While the share of Saudi Arabia (X p.p.) and Iran (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Israel (X p.p.) displayed negative dynamics.

In value terms, Israel ($X) constitutes the largest market for imported zirconium in the Middle East, comprising X% of total imports. The second position in the ranking was held by Iran ($X), with a X% share of total imports.

In Israel, zirconium imports decreased by an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Iran (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2022 when the import price increased by X%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform