Middle East: Industrial Roundwood (Non-Coniferous) Market 2024

Industrial Roundwood (Non-Coniferous) Market Size in the Middle East

In 2022, the Middle Eastern industrial roundwood (non-coniferous) market decreased by -2.6% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption continues to indicate a deep contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Industrial Roundwood (Non-Coniferous) Production in the Middle East

In value terms, industrial roundwood (non-coniferous) production amounted to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt shrinkage. The growth pace was the most rapid in 2019 with an increase of 54%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Industrial Roundwood (Non-Coniferous) Exports

Exports in the Middle East

In 2022, the amount of industrial roundwood exported in the Middle East dropped notably to X cubic meters, declining by -28.7% on the previous year. Overall, exports, however, enjoyed a moderate expansion. The growth pace was the most rapid in 2018 when exports increased by 125%. As a result, the exports reached the peak of X cubic meters. From 2019 to 2022, the growth of the (non-coniferous) exports failed to regain momentum.

In value terms, industrial roundwood (non-coniferous) exports dropped rapidly to $X in 2022. In general, exports recorded a noticeable reduction. The most prominent rate of growth was recorded in 2017 with an increase of 94%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Turkey (X cubic meters) represented the largest exporter of industrial roundwood, comprising 77% of total exports. It was distantly followed by the United Arab Emirates (X cubic meters), achieving an 18% share of total exports. Israel (X cubic meters) and Oman (X cubic meters) took a relatively small share of total exports.

Turkey was also the fastest-growing in terms of the industrial roundwood exports, with a CAGR of +51.9% from 2012 to 2022. At the same time, Oman (+19.0%) and Israel (+17.4%) displayed positive paces of growth. By contrast, the United Arab Emirates (-1.9%) illustrated a downward trend over the same period. While the share of Turkey (+75 p.p.) and Israel (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-8.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest industrial roundwood (non-coniferous) supplying countries in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Oman ($X), together comprising 96% of total exports.

Turkey, with a CAGR of +31.0%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per cubic meter in 2022, growing by 3.3% against the previous year. Over the period under review, the export price, however, saw a abrupt descent. The pace of growth was the most pronounced in 2019 an increase of 21%. Over the period under review, the export prices reached the peak figure at $X per cubic meter in 2012; however, from 2013 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 ($X per cubic meter), while Turkey ($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 Israel (+6.8%), while the other leaders experienced a decline in the export price figures.

Industrial Roundwood (Non-Coniferous) Imports

Imports in the Middle East

In 2022, purchases abroad of industrial roundwood increased by 62% to X cubic meters, rising for the second year in a row after two years of decline. In general, imports, however, continue to indicate a abrupt decrease. Over the period under review, (non-coniferous) imports hit record highs at X cubic meters in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, industrial roundwood (non-coniferous) imports surged to $X in 2022. Over the period under review, imports, however, recorded a perceptible contraction. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey represented the largest importer of industrial roundwood in the Middle East, with the volume of imports reaching X cubic meters, which was near 74% of total imports in 2022. It was distantly followed by the United Arab Emirates (X cubic meters), generating a 16% share of total imports. The following importers - Kuwait (X cubic meters), Iran (X cubic meters) and Israel (X cubic meters) - each finished at a 6.2% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to industrial roundwood (non-coniferous) imports into Turkey stood at -7.0%. At the same time, Israel (+24.3%), Kuwait (+4.8%) and Iran (+2.3%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +24.3% from 2012-2022. By contrast, the United Arab Emirates (-12.6%) illustrated a downward trend over the same period. Turkey (+10 p.p.), Kuwait (+1.7 p.p.) and Israel (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -9.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported industrial roundwood in the Middle East, comprising 82% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 9.5% share of total imports. It was followed by Kuwait, with a 2.6% share.

In Turkey, industrial roundwood (non-coniferous) imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-7.7% per year) and Kuwait (+1.0% 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 11% against the previous year. Import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial roundwood (non-coniferous) import price increased by +68.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 36% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per cubic meter), while Iran ($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 Turkey (+7.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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