Egypt: Veneer Sheets Market 2024

Veneer Sheets Market Size in Egypt

In 2022, the Egyptian veneer sheets market increased by 20% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a noticeable reduction. Veneer sheets consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Veneer Sheets Production in Egypt

In value terms, veneer sheets production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible slump. The most prominent rate of growth was recorded in 2021 with an increase of 2.8% against the previous year. Veneer sheets production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Veneer Sheets Exports

Exports from Egypt

In 2022, the amount of veneer sheets exported from Egypt dropped rapidly to X cubic meters, declining by -51.1% on the previous year's figure. Overall, exports, however, showed a remarkable increase. The growth pace was the most rapid in 2015 with an increase of 93%. Over the period under review, the exports attained the peak figure at X cubic meters in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, veneer sheets exports reduced markedly to $X in 2022. In general, exports continue to indicate a pronounced descent. The growth pace was the most rapid in 2018 when exports increased by 143% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Morocco (X cubic meters) and Sudan (X cubic meters) were the main destinations of veneer sheets exports from Egypt.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sudan (with a CAGR of +40.2%).

In value terms, Morocco ($X) remains the key foreign market for veneer sheets exports from Egypt, comprising 68% of total exports. The second position in the ranking was held by Sudan ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Morocco amounted to -1.6%.

Export Prices by Country

In 2022, the average veneer sheets export price amounted to $X per cubic meter, with a decrease of -7.4% against the previous year. In general, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2018 when the average export price increased by 57% against the previous year. Over the period under review, the average export prices hit record highs 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 destination: amid the top suppliers, the country with the highest price was Morocco ($X per cubic meter), while the average price for exports to Sudan totaled $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (+185.2%), while the prices for the other major destinations experienced mixed trend patterns.

Veneer Sheets Imports

Imports into Egypt

In 2022, supplies from abroad of veneer sheets increased by 16% to X cubic meters, rising for the second year in a row after four years of decline. Overall, imports, however, showed a deep downturn. The pace of growth was the most pronounced in 2013 with an increase of 18%. As a result, imports attained the peak of X cubic meters. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, veneer sheets imports surged to $X in 2022. In general, imports, however, showed a mild descent. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X cubic meters) constituted the largest veneer sheets supplier to Egypt, accounting for a 52% share of total imports. Moreover, veneer sheets imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X cubic meters), threefold. The United States (X cubic meters) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.2% per year) and the United States (-12.4% per year).

In value terms, Turkey ($X), China ($X) and the United States ($X) were the largest veneer sheets suppliers to Egypt, together comprising 82% of total imports. Ukraine, Russia, Ghana and Cote d'Ivoire lagged somewhat behind, together accounting for a further 13%.

Among the main suppliers, Russia, with a CAGR of +126.6%, recorded 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 average veneer sheets import price stood at $X per cubic meter in 2022, picking up by 9.3% against the previous year. In general, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, veneer sheets import price decreased by -6.3% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 28%. Over the period under review, average import prices reached the maximum at $X per cubic meter in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ukraine ($X per cubic meter), while the price for Ghana ($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 Russia (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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