GCC: Wood Pellets Market 2024

Wood Pellets Market Size in GCC

In 2022, the GCC wood pellets market increased by X% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Wood Pellets Production in GCC

In value terms, wood pellets production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production recorded a modest increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Wood Pellets Exports

Exports in GCC

In 2022, overseas shipments of wood pellets decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, exports saw a slight descent. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, wood pellets exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate moderate growth. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Bahrain dominates exports structure, recording X tons, which was approx. X% of total exports in 2022. The United Arab Emirates (X tons) followed a long way behind the leaders.

Bahrain was also the fastest-growing in terms of the wood pellets exports, with a CAGR of X% from 2012 to 2022. The United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bahrain increased by X percentage points.

In value terms, Bahrain ($X) remains the largest wood pellets supplier in GCC, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Bahrain amounted to X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, growing by X% against the previous year. Export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (X%).

Wood Pellets Imports

Imports in GCC

In 2022, supplies from abroad of wood pellets increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, saw a deep reduction. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, wood pellets imports fell remarkably to $X in 2022. Over the period under review, imports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the main importer of wood pellets in GCC, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. Kuwait (X tons) held the second position in the ranking, followed by Bahrain (X tons). All these countries together took approx. X% share of total imports. Saudi Arabia (X tons) and Oman (X tons) held a little share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Saudi Arabia (X%), Kuwait (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Oman (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.), Kuwait (X p.p.), Bahrain (X p.p.) and Saudi Arabia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Oman (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported wood pellets in GCC, comprising X% of total imports. The second position in the ranking was taken by Bahrain ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled X%. In the other countries, the average annual rates were as follows: Bahrain (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was 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 mixed trends in the import price figures.

Source: IndexBox Platform

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