MENA: Zinc Market 2024

Zinc Market Size in MENA

The MENA's zinc market surged to $X in 2021, rising by 20% against the previous year. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Zinc Production in MENA

In value terms, zinc production rose to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.6% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 46%. Over the period under review, production reached the peak level at $X in 2019; afterwards, it flattened through to 2021.

Zinc Exports

Exports in MENA

In 2021, shipments abroad of zinc increased by 27% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, showed a mild slump. The most prominent rate of growth was recorded in 2017 when exports increased by 62% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, zinc exports skyrocketed to $X in 2021. In general, exports recorded a mild expansion. The growth pace was the most rapid in 2017 when exports increased by 96% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Iran (X tons) and the United Arab Emirates (X tons) prevails in exports structure, together achieving 91% of total exports. It was distantly followed by Oman (X tons), committing a 6.6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Oman (with a CAGR of +69.8%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest zinc supplying countries in MENA were Iran ($X), the United Arab Emirates ($X) and Oman ($X), together comprising 97% of total exports.

Among the main exporting countries, Oman, with a CAGR of +102.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, jumping by 17% against the previous year. Over the last nine years, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2017 when the export price increased by 21% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+19.0%), while the other leaders experienced more modest paces of growth.

Zinc Imports

Imports in MENA

In 2021, overseas purchases of zinc increased by 14% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +4.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, zinc imports soared to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the main importer of zinc in MENA, with the volume of imports amounting to X tons, which was near 57% of total imports in 2021. The United Arab Emirates (X tons) ranks second in terms of the total imports with an 18% share, followed by Saudi Arabia (8.8%) and Egypt (4.8%). Oman (X tons) and Morocco (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +3.5% from 2012 to 2021. At the same time, the United Arab Emirates (+16.1%), Oman (+15.3%), Egypt (+9.4%) and Morocco (+2.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +16.1% from 2012-2021. By contrast, Saudi Arabia (-4.6%) illustrated a downward trend over the same period. The United Arab Emirates (+11 p.p.), Oman (+2.1 p.p.) and Egypt (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Turkey and Saudi Arabia saw its share reduced by -3.1% and -10.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported zinc in MENA, comprising 59% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by Saudi Arabia, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +8.8%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+20.7% per year) and Saudi Arabia (-0.2% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, increasing by 32% against the previous year. Import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the import price increased by 38% against the previous year. The level of import peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Turkey ($X per ton) and Saudi Arabia ($X per ton), while Oman ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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