GCC: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in GCC

The GCC metal office furniture market shrank slightly to $X in 2022, declining by -2% against the previous year. Over the period under review, consumption, however, showed a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 3.2% against the previous year. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Metal Office Furniture Production in GCC

In value terms, metal office furniture production expanded modestly to $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.4% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 53%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Metal Office Furniture Exports

Exports in GCC

In 2022, shipments abroad of metal office furniture was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 53%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, metal office furniture exports declined slightly to $X in 2022. In general, exports, however, recorded a mild reduction. The pace of growth was the most pronounced in 2013 with an increase of 66% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) and Oman (X tons) dominates exports structure, together achieving 90% of total exports. It was distantly followed by Saudi Arabia (X tons), mixing up a 6.8% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +15.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X) remains the largest metal office furniture supplier in GCC, comprising 64% of total exports. The second position in the ranking was held by Oman ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled -1.3%. In the other countries, the average annual rates were as follows: Oman (-1.9% per year) and Saudi Arabia (+7.7% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, standing approx. at the previous year. Overall, the export price saw a slight curtailment. The most prominent rate of growth was recorded in 2017 an increase of 13%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 ($X per ton), while Oman ($X per ton) 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 (-1.5%), while the other leaders experienced a decline in the export price figures.

Metal Office Furniture Imports

Imports in GCC

After five years of decline, overseas purchases of metal office furniture increased by 2.7% to X tons in 2022. Overall, imports, however, saw a abrupt decrease. The growth pace was the most rapid in 2016 when imports increased by 8%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, metal office furniture imports shrank to $X in 2022. Over the period under review, imports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 5.9% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia represented the largest importing country with an import of about X tons, which recorded 51% of total imports. The United Arab Emirates (X tons) held a 25% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (10%) and Kuwait (8.7%). The following importers - Oman (X tons) and Bahrain (X tons) - together made up 4.6% of total imports.

Imports into Saudi Arabia decreased at an average annual rate of -8.6% from 2012 to 2022. The United Arab Emirates (-2.1%), Kuwait (-4.7%), Oman (-5.6%), Bahrain (-6.7%) and Qatar (-10.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Kuwait increased by +11 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X) were the countries with the highest levels of imports in 2022, with a combined 84% share of total imports. Kuwait, Oman and Bahrain lagged somewhat behind, together accounting for a further 16%.

Kuwait, with a CAGR of +4.2%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, reducing by -7.6% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 16% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bahrain ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+9.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform