Middle East: Wood-Based Panels Market 2024

Wood-Based Panels Market Size in the Middle East

The Middle Eastern wood-based panels market shrank modestly to $X in 2022, falling by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Wood-Based Panels Production in the Middle East

In value terms, wood-based panels production fell to $X in 2022 estimated in export price. Over the period under review, production, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Wood-Based Panels Exports

Exports in the Middle East

In 2022, after six years of growth, there was decline in overseas shipments of wood-based panels, when their volume decreased by X% to X cubic meters. Over the period under review, exports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The volume of export peaked at X cubic meters in 2021, and then declined modestly in the following year.

In value terms, wood-based panels exports surged to $X in 2022. Overall, exports, however, showed a strong expansion. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Turkey dominates exports structure, resulting at X cubic meters, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X cubic meters), generating a X% share of total exports. Iran (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 Turkey stood at X%. At the same time, Iran (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. While the share of Turkey (X p.p.) and Iran (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

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

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

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per cubic meter, growing by X% against the previous year. In general, the export price, however, continues to indicate a slight reduction. The level of export peaked at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 ($X per cubic meter), while Iran ($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 the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Wood-Based Panels Imports

Imports in the Middle East

In 2022, after two years of growth, there was decline in supplies from abroad of wood-based panels, when their volume decreased by X% to X cubic meters. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. The volume of import peaked at X cubic meters in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, wood-based panels imports rose remarkably to $X in 2022. In general, imports saw a slight setback. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia (X cubic meters) and the United Arab Emirates (X cubic meters) represented the major importers of wood-based panels in 2022, reaching near X% and X% of total imports, respectively. Iraq (X cubic meters) took the next position in the ranking, followed by Israel (X cubic meters), Iran (X cubic meters) and Turkey (X cubic meters). All these countries together held approx. X% share of total imports. Kuwait (X cubic meters), Oman (X cubic meters), Qatar (X cubic meters), Lebanon (X cubic meters), Palestine (X cubic meters), Syrian Arab Republic (X cubic meters) and Jordan (X cubic meters) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Iraq (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 the Middle East were Saudi Arabia ($X), the United Arab Emirates ($X) and Israel ($X), together accounting for X% of total imports. Turkey, Iraq, Palestine, Iran, Qatar, Kuwait, Jordan, Oman, Lebanon and Syrian Arab Republic lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Iraq, with a CAGR of X%, saw the highest rates of growth with regard to 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 the Middle East stood at $X per cubic meter in 2022, growing by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per cubic meter in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per cubic meter), while Syrian Arab Republic ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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