Middle East: Market for Iron Or Steel Liquid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Liquid Fuel Domestic Appliances in the Middle East

The Middle Eastern metal liquid fuel appliances market reduced to $X in 2022, falling by -12.6% against the previous year. Over the period under review, consumption continues to indicate a abrupt downturn. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Iron Or Steel Liquid Fuel Domestic Appliances in the Middle East

In value terms, metal liquid fuel appliances production fell to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2016 with an increase of 17%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Iron Or Steel Liquid Fuel Domestic Appliances

Exports in the Middle East

In 2022, overseas shipments of iron or steel liquid fuel domestic appliances increased by 0.3% to X units, rising for the third year in a row after three years of decline. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 224%. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, metal liquid fuel appliances exports expanded markedly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 234%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Lebanon (X units) was the largest exporter of iron or steel liquid fuel domestic appliances, constituting 38% of total exports. It was distantly followed by Turkey (X units), Syrian Arab Republic (X units), Kuwait (X units), Bahrain (X units) and Jordan (X units), together making up a 58% share of total exports. The United Arab Emirates (X units) followed a long way behind the leaders.

Lebanon was also the fastest-growing in terms of the iron or steel liquid fuel domestic appliances exports, with a CAGR of +34.1% from 2012 to 2022. At the same time, Bahrain (+18.6%), Turkey (+14.3%), Kuwait (+11.2%), Jordan (+4.7%) and Syrian Arab Republic (+3.7%) displayed positive paces of growth. By contrast, the United Arab Emirates (-7.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Lebanon, Bahrain and Turkey increased by +32, +4.5 and +4.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal liquid fuel appliances supplying countries in the Middle East were Turkey ($X), Syrian Arab Republic ($X) and Lebanon ($X), with a combined 63% share of total exports.

In terms of the main exporting countries, Lebanon, with a CAGR of +23.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, increasing by 10% against the previous year. In general, the export price, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2013 when the export price increased by 29%. As a result, the export price attained the peak level of $X per unit. From 2014 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 Turkey ($X per unit), while Lebanon ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+2.0%), while the other leaders experienced a decline in the export price figures.

Imports of Iron Or Steel Liquid Fuel Domestic Appliances

Imports in the Middle East

In 2022, approx. X units of iron or steel liquid fuel domestic appliances were imported in the Middle East; which is down by -21.7% on the year before. In general, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by 102%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal liquid fuel appliances imports fell markedly to $X in 2022. Overall, imports recorded a abrupt decline. The growth pace was the most rapid in 2013 with an increase of 66% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Iraq prevails in imports structure, reaching X units, which was approx. 64% of total imports in 2022. It was distantly followed by Lebanon (X units), the United Arab Emirates (X units) and Kuwait (X units), together mixing up a 20% share of total imports. Jordan (X units), Israel (X units) and Turkey (X units) followed a long way behind the leaders.

Imports into Iraq decreased at an average annual rate of -7.8% from 2012 to 2022. At the same time, Israel (+31.3%), Lebanon (+6.3%) and Turkey (+2.5%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +31.3% from 2012-2022. Kuwait experienced a relatively flat trend pattern. By contrast, Jordan (-4.8%) and the United Arab Emirates (-11.2%) illustrated a downward trend over the same period. While the share of Lebanon (+5.5 p.p.), Israel (+3.5 p.p.), Kuwait (+2.9 p.p.) and Turkey (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-5 p.p.) and Iraq (-13 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iraq ($X) constitutes the largest market for imported iron or steel liquid fuel domestic appliances in the Middle East, comprising 77% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 8.4% share of total imports. It was followed by Lebanon, with a 3.9% share.

In Iraq, metal liquid fuel appliances imports plunged by an average annual rate of -4.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-14.3% per year) and Lebanon (-4.4% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, increasing by 4.4% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by 32% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Jordan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+3.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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