Saudi Arabia: Zinc Market 2024

Zinc Market Size in Saudi Arabia

In 2021, the Saudi zinc market increased by 12% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption saw a slight setback. Zinc consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Zinc Production in Saudi Arabia

In value terms, zinc production expanded slightly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate measured growth. The pace of growth was the most pronounced in 2017 when the production volume increased by 714% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Zinc Exports

Exports from Saudi Arabia

In 2021, zinc exports from Saudi Arabia skyrocketed to X tons, increasing by 151% on the year before. Over the period under review, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of 860%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, zinc exports soared to $X in 2021. In general, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 1,497% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Sri Lanka (X tons), China (X tons) and India (X tons) were the main destinations of zinc exports from Saudi Arabia, with a combined 42% share of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, China ($X), Sri Lanka ($X) and the United Arab Emirates ($X) were the largest markets for zinc exported from Saudi Arabia worldwide, together comprising 44% of total exports.

Among the main countries of destination, China, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average zinc export price stood at $X per ton in 2021, shrinking by -10.4% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, zinc export price decreased by -20.2% against 2017 indices. The pace of growth was the most pronounced in 2014 when the average export price increased by 66%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+65.0%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into Saudi Arabia

In 2021, the amount of zinc imported into Saudi Arabia reduced to X tons, which is down by -8.8% compared with 2020. Overall, imports saw a perceptible downturn. The most prominent rate of growth was recorded in 2020 with an increase of 18% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, zinc imports soared to $X in 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 26% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

South Korea (X tons), Spain (X tons) and Belgium (X tons) were the main suppliers of zinc imports to Saudi Arabia, together comprising 57% of total imports. India, Australia, Russia, Oman, Kazakhstan, Bulgaria, the United Arab Emirates, Canada, Iran and Namibia lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +522.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest zinc suppliers to Saudi Arabia were South Korea ($X), Spain ($X) and Belgium ($X), with a combined 44% share of total imports. India, Australia, Russia, Kazakhstan, Oman, the United Arab Emirates, Bulgaria, Namibia, Iran and Canada lagged somewhat behind, together accounting for a further 35%.

Bulgaria, with a CAGR of +415.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average zinc import price amounted to $X per ton, picking up by 31% against the previous year. Over the period under review, import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 an increase of 40%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :