GCC: Industrial Roundwood (Non-Coniferous) Market 2024

Industrial Roundwood (Non-Coniferous) Market Size in GCC

In 2022, the GCC industrial roundwood (non-coniferous) market increased by 123% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption, however, continues to indicate a abrupt decrease. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Industrial Roundwood (Non-Coniferous) Production in GCC

In value terms, industrial roundwood (non-coniferous) production fell modestly to $X in 2022 estimated in export price. In general, production, however, recorded a slight downturn. The pace of growth appeared the most rapid in 2018 with an increase of 5,872%. As a result, production attained the peak level of $X. From 2019 to 2022, (non-coniferous) production growth remained at a lower figure.

Industrial Roundwood (Non-Coniferous) Exports

Exports in GCC

In 2022, shipments abroad of industrial roundwood decreased by -10.3% to X cubic meters, falling for the fourth year in a row after two years of growth. In general, exports saw a pronounced descent. The growth pace was the most rapid in 2018 with an increase of 130% against the previous year. 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 reduced to $X in 2022. Over the period under review, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2018 when exports increased by 132%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates prevails in exports structure, finishing at X cubic meters, which was near 90% of total exports in 2022. It was distantly followed by Oman (X cubic meters), committing a 9.5% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to industrial roundwood (non-coniferous) exports from the United Arab Emirates stood at -1.9%. At the same time, Oman (+19.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +19.0% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates and Oman increased by +13 and +8.3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest industrial roundwood (non-coniferous) supplier in GCC, comprising 90% of total exports. The second position in the ranking was taken by Oman ($X), with an 8.8% share of total exports.

In the United Arab Emirates, industrial roundwood (non-coniferous) exports shrank by an average annual rate of -6.1% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per cubic meter in 2022, declining by -5.1% against the previous year. Over the period under review, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2013 an increase of 21%. As a result, the export price attained the peak level of $X per cubic meter. From 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably 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 Oman stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-4.3%).

Industrial Roundwood (Non-Coniferous) Imports

Imports in GCC

After three years of decline, overseas purchases of industrial roundwood increased by 99% to X cubic meters in 2022. In general, imports, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 108% against the previous year. Over the period under review, (non-coniferous) imports attained the peak figure at X cubic meters in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, industrial roundwood (non-coniferous) imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a deep contraction. The pace of growth was the most pronounced in 2018 when imports increased by 176%. Over the period under review, (non-coniferous) imports hit record highs at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X cubic meters) was the main importer of industrial roundwood, committing 80% of total imports. It was distantly followed by Kuwait (X cubic meters) and Qatar (X cubic meters), together mixing up a 16% share of total imports. The following importers - Oman (X cubic meters) and Bahrain (X cubic meters) - together made up 4.3% of total imports.

From 2012 to 2022, average annual rates of growth with regard to industrial roundwood (non-coniferous) imports into the United Arab Emirates stood at -12.6%. At the same time, Kuwait (+4.8%) and Qatar (+3.7%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +4.8% from 2012-2022. By contrast, Bahrain (-5.5%) and Oman (-20.0%) illustrated a downward trend over the same period. Kuwait (+9.4 p.p.) and Qatar (+3.7 p.p.) significantly strengthened its position in terms of the total imports, while Oman and the United Arab Emirates saw its share reduced by -4.5% and -8.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported industrial roundwood in GCC, comprising 60% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 16% share of total imports. It was followed by Qatar, with a 15% share.

In the United Arab Emirates, industrial roundwood (non-coniferous) imports decreased by an average annual rate of -7.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (+1.0% per year) and Qatar (+12.1% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per cubic meter, waning by -16.6% against the previous year. Import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the import price increased by 136%. As a result, import price attained the peak level of $X per cubic meter. From 2017 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X per cubic meter), while the United Arab Emirates ($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 Qatar (+8.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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