GCC: Zinc Market 2024

Zinc Market Size in GCC

The GCC zinc market surged to $X in 2022, rising by X% against the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Zinc Production in GCC

In value terms, zinc production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Zinc Exports

Exports in GCC

After two years of growth, shipments abroad of unwrought zinc decreased by X% to X tons in 2022. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then shrank markedly in the following year.

In value terms, zinc exports dropped dramatically to $X in 2022. Overall, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then declined remarkably in the following year.

Exports by Country

The shipments of the one major exporters of unwrought zinc, namely the United Arab Emirates, represented more than two-thirds of total export.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of unwrought zinc. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest zinc supplier in GCC.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to X%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, increasing by X% against the previous year. Export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc export price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Zinc Imports

Imports in GCC

Zinc imports rose remarkably to X tons in 2022, increasing by X% on 2021 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, zinc imports expanded remarkably to $X in 2022. Over the period under review, imports saw prominent growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United Arab Emirates represented the largest importing country with an import of around X tons, which recorded X% of total imports. Saudi Arabia (X tons) held the second position in the ranking, distantly followed by Oman (X tons). All these countries together held near X% share of total imports. Qatar (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the unwrought zinc imports, with a CAGR of X% from 2012 to 2022. At the same time, Qatar (X%) and Oman (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United Arab Emirates, zinc imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc import price increased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Qatar ($X per ton) and Oman ($X per ton), while Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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