MENA: Ferro-Silico-Manganese Market 2024

Ferro-Silico-Manganese Market Size in MENA

In 2023, after three years of growth, there was significant decline in the MENA's ferro-silico-manganese market, when its value decreased by X% to $X. Overall, consumption, however, saw a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2022, and then reduced dramatically in the following year.

Ferro-Silico-Manganese Production in MENA

In value terms, ferro-silico-manganese production soared to $X in 2023 estimated in export price. Over the period under review, production continues to indicate significant growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level in 2023 and is likely to continue growth in years to come.

Ferro-Silico-Manganese Exports

Exports in MENA

In 2023, ferro-silico-manganese exports in MENA skyrocketed to X tons, rising by X% against the previous year. Over the period under review, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ferro-silico-manganese exports soared to $X in 2023. In general, exports posted resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the main exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by Saudi Arabia (X tons), generating a X% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the ferro-silico-manganese exports, with a CAGR of X% from 2012 to 2023. At the same time, Saudi Arabia (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 largest ferro-silico-manganese supplying countries in MENA were Saudi Arabia ($X) and the United Arab Emirates ($X).

Among the main exporting countries, the United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, waning by X% against the previous year. In general, the export price continues to indicate a deep downturn. The pace of growth was the most pronounced in 2022 when the export price increased by X%. As a result, the export price reached 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 Saudi Arabia ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Ferro-Silico-Manganese Imports

Imports in MENA

In 2023, imports of ferro-silico-manganese in MENA was estimated at X tons, approximately equating the year before. Total imports indicated tangible growth from 2012 to 2023: its volume 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, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, ferro-silico-manganese imports declined dramatically to $X in 2023. In general, imports posted a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then reduced rapidly in the following year.

Imports by Country

Turkey was the main importer of ferro-silico-manganese in MENA, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2023. The United Arab Emirates (X tons) took the second position in the ranking, followed by Egypt (X tons), Iran (X tons), Oman (X tons) and Algeria (X tons). All these countries together held near X% share of total imports. The following importers - Qatar (X tons) and Bahrain (X tons) - each resulted at a X% share of total imports.

Turkey experienced a relatively flat trend pattern with regard to volume of imports of ferro-silico-manganese. At the same time, Iran (X%), Algeria (X%), the United Arab Emirates (X%), Bahrain (X%), Oman (X%) and Egypt (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. By contrast, Qatar (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Iran (X p.p.), Algeria (X p.p.), Oman (X p.p.), Egypt (X p.p.) and Bahrain (X p.p.) significantly strengthened its position in terms of the total imports, while Qatar and Turkey saw its share reduced by X% and X% from 2012 to 2023, respectively.

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

Iran, 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, reducing by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2022, and then contracted dramatically in the following year.

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

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

Source: IndexBox Platform