MENA: Mica Market 2024

Mica Market Size in MENA

The MENA's mica market was finally on the rise to reach $X in 2023, after three years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2023, consumption stood at a somewhat lower figure.

Mica Production in MENA

In value terms, mica production soared to $X in 2023 estimated in export price. The total production indicated a strong 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 appeared the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Mica Exports

Exports in MENA

In 2023, after four years of decline, there was significant growth in shipments abroad of mica, when their volume increased by X% to X tons. Over the period under review, exports, however, recorded a perceptible setback. The volume of export peaked at X tons in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

In value terms, mica exports surged to $X in 2023. In general, exports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

Turkey dominates exports structure, finishing at X tons, which was approx. X% of total exports in 2023. The following exporters - Iran (X tons) and the United Arab Emirates (X tons) - each accounted for a X% share of total exports.

Turkey was also the fastest-growing in terms of the mica exports, with a CAGR of X% from 2012 to 2023. Iran (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while Iran and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, the largest mica supplying countries in MENA were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), with a combined X% share of total exports.

Among the main exporting countries, Turkey, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, dropping by X% against the previous year. Overall, the export price recorded a pronounced slump. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then contracted significantly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey ($X per ton) was 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 a decline in the export price figures.

Mica Imports

Imports in MENA

In 2023, after two years of decline, there was significant growth in overseas purchases of mica, when their volume increased by X% to X tons. Over the period under review, imports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2013 when imports increased by X%. The volume of import peaked at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, mica imports surged to $X in 2023. In general, imports, however, showed a deep reduction. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Kuwait was the largest importing country with an import of around X tons, which accounted for X% of total imports. It was distantly followed by Turkey (X tons) and Iraq (X tons), together achieving a X% share of total imports. The following importers - Israel (X tons), Yemen (X tons) and the United Arab Emirates (X tons) - together made up X% of total imports.

Imports into Kuwait increased at an average annual rate of X% from 2012 to 2023. At the same time, Israel (X%), Turkey (X%), the United Arab Emirates (X%) and Iraq (X%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. By contrast, Yemen (X%) illustrated a downward trend over the same period. While the share of Kuwait (X p.p.), Turkey (X p.p.), Iraq (X p.p.), Israel (X p.p.), the United Arab Emirates (X p.p.) and Yemen (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X), Turkey ($X) and Iraq ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Israel, the United Arab Emirates and Yemen lagged somewhat behind, together comprising a further X%.

Israel, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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, increasing by X% against the previous year. Over the period under review, the import price showed a notable expansion. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2016 to 2023, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Turkey ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform