MENA: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in MENA

After three years of growth, the MENA's ferro-alloys market decreased by X% to $X in 2023. The total consumption indicated measured growth 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, consumption increased by X% against 2019 indices. The level of consumption peaked at $X in 2022, and then reduced slightly in the following year.

Ferro-Alloys Production in MENA

In value terms, ferro-alloys production rose notably to $X in 2023 estimated in export price. The total production indicated a perceptible increase from 2012 to 2023: its value 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, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2023, production failed to regain momentum.

Ferro-Alloys Exports

Exports in MENA

In 2023, exports of ferro-alloys in MENA surged to X tons, with an increase of X% compared with 2022. Overall, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, ferro-alloys exports contracted to $X in 2023. In general, exports posted a prominent expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2022, and then declined in the following year.

Exports by Country

In 2023, the United Arab Emirates (X tons) was the main exporter of ferro-alloys, generating X% of total exports. It was distantly followed by Turkey (X tons), Iran (X tons), Oman (X tons), Saudi Arabia (X tons) and Egypt (X tons), together comprising a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to ferro-alloys exports from the United Arab Emirates stood at X%. At the same time, Oman (X%), Iran (X%), Egypt (X%), Turkey (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2023. The United Arab Emirates (X p.p.), Oman (X p.p.) and Iran (X p.p.) significantly strengthened its position in terms of the total exports, while Egypt, Saudi Arabia and Turkey saw its share reduced by X%, X% and X% from 2012 to 2023, respectively.

In value terms, the largest ferro-alloys supplying countries in MENA were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), together accounting for X% of total exports. Oman, Egypt and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

Oman, with a CAGR of X%, saw 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

The export price in MENA stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the export price recorded a mild decline. The pace of growth appeared the most rapid in 2022 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then dropped significantly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($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-Alloys Imports

Imports in MENA

In 2023, after two years of growth, there was significant decline in supplies from abroad of ferro-alloys, when their volume decreased by X% to X tons. Total imports indicated a temperate increase from 2012 to 2023: its volume 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, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2022, and then shrank in the following year.

In value terms, ferro-alloys imports plummeted to $X in 2023. Overall, imports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then declined remarkably in the following year.

Imports by Country

Turkey (X tons) and the United Arab Emirates (X tons) represented roughly X% of total imports in 2023. It was distantly followed by Iran (X tons) and Egypt (X tons), together mixing up a X% share of total imports. Oman (X tons) and Algeria (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Oman (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Iran ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Egypt, Oman and Algeria lagged somewhat behind, together comprising a further X%.

Oman, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2023, which is down by X% against the previous year. Import price indicated a modest increase from 2012 to 2023: its price 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. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then shrank in the following year.

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

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

Source: IndexBox Platform