GCC: Wood-Based Panels Market 2024

Wood-Based Panels Market Size in GCC

In 2022, the GCC wood-based panels market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Wood-Based Panels Production in GCC

In value terms, wood-based panels production rose modestly to $X in 2022 estimated in export price. In general, production showed measured growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Wood-Based Panels Exports

Exports in GCC

In 2022, wood-based panels exports in GCC declined modestly to X cubic meters, shrinking by X% on the year before. Over the period under review, exports, however, showed tangible growth. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X cubic meters. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, wood-based panels exports surged to $X in 2022. In general, exports, however, recorded a pronounced expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X cubic meters) was the key exporter of wood-based panels, comprising X% of total exports. It was distantly followed by Saudi Arabia (X cubic meters), comprising an X% share of total exports. Oman (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wood-based panels exports from the United Arab Emirates stood at X%. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest wood-based panels supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

In the United Arab Emirates, wood-based panels exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per cubic meter in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, showed a mild decline. Over the period under review, the export prices attained the maximum at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per cubic meter), while Saudi Arabia ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced a decline in the export price figures.

Wood-Based Panels Imports

Imports in GCC

In 2022, overseas purchases of wood-based panels decreased by X% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports reached the maximum at X cubic meters in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, wood-based panels imports reduced slightly to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X cubic meters) and the United Arab Emirates (X cubic meters) prevails in imports structure, together creating X% of total imports. Kuwait (X cubic meters) ranks next in terms of the total imports with a X% share, followed by Oman (X%) and Qatar (X%). Bahrain (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wood-based panels importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X), together comprising X% of total imports. Kuwait, Oman and Bahrain lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Kuwait, with a CAGR of X%, recorded the highest growth rate of the value of imports, 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 GCC stood at $X per cubic meter in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, continues to indicate a slight curtailment. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of import peaked at $X per cubic meter in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Qatar ($X per cubic meter) and Bahrain ($X per cubic meter), while Saudi Arabia ($X per cubic meter) and the United Arab Emirates ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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