MENA: Ferro-Silicon Market 2024

Ferro-Silicon Market Size in MENA

In 2023, after three years of growth, there was significant decline in the MENA's ferro-silicon market, when its value decreased by X% to $X. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.

Ferro-Silicon Production in MENA

In value terms, ferro-silicon production expanded to $X in 2023 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2023, production growth failed to regain momentum.

Ferro-Silicon Exports

Exports in MENA

For the third year in a row, MENA recorded growth in shipments abroad of ferro-silicon, which increased by X% to X tons in 2023. Overall, exports saw prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, ferro-silicon exports reduced to $X in 2023. Over the period under review, exports saw a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then shrank in the following year.

Exports by Country

Iran was the largest exporting country with an export of around X tons, which finished at X% of total exports. It was distantly followed by Egypt (X tons), Turkey (X tons) and the United Arab Emirates (X tons), together achieving a X% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Iran ($X), Egypt ($X) and Turkey ($X) were the countries with the highest levels of exports in 2023, together accounting for X% of total exports. The United Arab Emirates and Kuwait lagged somewhat behind, together comprising a further X%.

The United Arab Emirates, with a CAGR of X%, recorded 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, waning by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced more modest paces of growth.

Ferro-Silicon Imports

Imports in MENA

In 2023, after three years of growth, there was significant decline in overseas purchases of ferro-silicon, when their volume decreased by X% to X tons. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2022, and then shrank dramatically in the following year.

In value terms, ferro-silicon imports contracted significantly to $X in 2023. Overall, imports, however, saw a slight expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2022, and then contracted remarkably in the following year.

Imports by Country

Turkey dominates imports structure, resulting at X tons, which was near X% of total imports in 2023. It was distantly followed by the United Arab Emirates (X tons), committing a X% share of total imports. Oman (X tons), Saudi Arabia (X tons), Morocco (X tons), Algeria (X tons) and Egypt (X tons) took a minor share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Oman (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. Algeria and the United Arab Emirates experienced a relatively flat trend pattern. By contrast, Egypt (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) and Oman (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Egypt (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

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

Import Prices by Country

The import price in MENA stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2022, and then declined in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Egypt ($X per ton) and Algeria ($X per ton), while Oman ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Algeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform