Middle East: Industrial Roundwood (Coniferous) Market 2024

Industrial Roundwood (Coniferous) Market Size in the Middle East

The Middle Eastern industrial roundwood (coniferous) market reduced to $X in 2022, shrinking by -7.3% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Industrial Roundwood (Coniferous) Production in the Middle East

In value terms, industrial roundwood (coniferous) production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when the production volume increased by 29%. The level of production peaked at $X in 2021, and then dropped in the following year.

Industrial Roundwood (Coniferous) Exports

Exports in the Middle East

Industrial roundwood (coniferous) exports expanded slightly to X cubic meters in 2022, surging by 3.3% against 2021. In general, exports, however, continue to indicate a deep slump. The growth pace was the most rapid in 2016 when exports increased by 202%. The volume of export peaked at X cubic meters in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, industrial roundwood (coniferous) exports shrank significantly to $X in 2022. Overall, exports, however, continue to indicate a deep contraction. The growth pace was the most rapid in 2017 with an increase of 371% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Jordan (X cubic meters) represented the key exporter of industrial roundwood (coniferous), creating 79% of total exports. It was distantly followed by the United Arab Emirates (X cubic meters), comprising an 11% share of total exports. The following exporters - Bahrain (X cubic meters), Palestine (X cubic meters) and Oman (X cubic meters) - together made up 9.6% of total exports.

Jordan was also the fastest-growing in terms of the industrial roundwood (coniferous) exports, with a CAGR of +62.1% from 2012 to 2022. At the same time, Bahrain (+21.2%) displayed positive paces of growth. Palestine experienced a relatively flat trend pattern. By contrast, Oman (-8.4%) and the United Arab Emirates (-19.5%) illustrated a downward trend over the same period. While the share of Jordan (+79 p.p.), Bahrain (+4.4 p.p.) and Palestine (+2.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-29.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Jordan ($X) remains the largest industrial roundwood (coniferous) supplier in the Middle East, comprising 64% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 23% share of total exports. It was followed by Bahrain, with a 5.8% share.

In Jordan, industrial roundwood (coniferous) exports increased at an average annual rate of +32.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-20.3% per year) and Bahrain (+12.3% per year).

Export Prices by Country

The export price in the Middle East stood at $X per cubic meter in 2022, which is down by -26.1% against the previous year. Over the period under review, the export price continues to indicate a abrupt downturn. The growth pace was the most rapid in 2017 an increase of 57%. The level of export peaked at $X per cubic meter in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per cubic meter), while Oman ($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 the United Arab Emirates (-1.1%), while the other leaders experienced a decline in the export price figures.

Industrial Roundwood (Coniferous) Imports

Imports in the Middle East

In 2022, overseas purchases of industrial roundwood (coniferous) increased by 18% to X cubic meters, rising for the third consecutive year after seven years of decline. Over the period under review, imports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 22% against the previous year. The volume of import peaked at X cubic meters in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, industrial roundwood (coniferous) imports surged to $X in 2022. Overall, imports, however, faced a abrupt contraction. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X cubic meters, which was near 77% of total imports in 2022. Israel (X cubic meters) held a 7.9% share (based on physical terms) of total imports, which put it in second place, followed by Lebanon (7.4%). Oman (X cubic meters) and Turkey (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to industrial roundwood (coniferous) imports into the United Arab Emirates stood at -2.0%. At the same time, Lebanon (+43.9%), Oman (+13.6%) and Israel (+6.5%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +43.9% from 2012-2022. By contrast, Turkey (-44.2%) illustrated a downward trend over the same period. The United Arab Emirates (+66 p.p.), Israel (+7.5 p.p.), Lebanon (+7.4 p.p.) and Oman (+3.7 p.p.) significantly strengthened its position in terms of the total imports, while Turkey saw its share reduced by -86.1% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported industrial roundwood (coniferous) in the Middle East, comprising 74% of total imports. The second position in the ranking was held by Oman ($X), with a 7.2% share of total imports. It was followed by Israel, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +5.8%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+7.5% per year) and Israel (+7.8% per year).

Import Prices by Country

The import price in the Middle East stood at $X per cubic meter in 2022, with an increase of 4.3% against the previous year. Import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial roundwood (coniferous) import price increased by +96.9% against 2016 indices. The pace of growth appeared the most rapid in 2017 an increase of 34%. Over the period under review, import prices attained the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per cubic meter), while Lebanon ($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 the United Arab Emirates (+8.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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