GCC: Non-Electric Roasting Furnace Market 2024

Non-Electric Roasting Furnace Market Size in GCC

The GCC non-electric roasting furnace market expanded significantly to $X in 2022, with an increase of 8.2% against the previous year. Overall, consumption recorded a strong increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Non-Electric Roasting Furnace Production in GCC

In value terms, non-electric roasting furnace production rose remarkably to $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible decrease. The pace of growth appeared the most rapid in 2017 with an increase of 49%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Non-Electric Roasting Furnace Exports

Exports in GCC

For the third consecutive year, GCC recorded growth in overseas shipments of non-electric furnaces and ovens for the roasting or melting, which increased by 75% to X units in 2022. Over the period under review, exports, however, recorded a abrupt contraction. The growth pace was the most rapid in 2018 with an increase of 247% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, non-electric roasting furnace exports declined to $X in 2022. Overall, exports, however, showed a precipitous curtailment. The growth pace was the most rapid in 2017 with an increase of 166% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain represented the main exporting country with an export of around X units, which finished at 77% of total exports. It was distantly followed by the United Arab Emirates (X units), mixing up a 19% share of total exports. Oman (X units) and Kuwait (X units) followed a long way behind the leaders.

Exports from Bahrain decreased at an average annual rate of -5.7% from 2012 to 2022. Oman (-1.2%), Kuwait (-6.2%) and the United Arab Emirates (-6.5%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest non-electric roasting furnace supplier in GCC, comprising 71% of total exports. The second position in the ranking was held by Bahrain ($X), with a 21% share of total exports. It was followed by Kuwait, with a 5% share.

In the United Arab Emirates, non-electric roasting furnace exports declined by an average annual rate of -3.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (-31.6% per year) and Kuwait (+11.4% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, which is down by -50.9% against the previous year. In general, the export price faced a deep contraction. The most prominent rate of growth was recorded in 2017 when the export price increased by 14% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+18.8%), while the other leaders experienced mixed trends in the export price figures.

Non-Electric Roasting Furnace Imports

Imports in GCC

In 2022, the amount of non-electric furnaces and ovens for the roasting or melting imported in GCC soared to X units, growing by 105% compared with 2021. In general, imports saw a significant increase. The pace of growth appeared the most rapid in 2018 when imports increased by 3,114%. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, non-electric roasting furnace imports fell rapidly to $X in 2022. Over the period under review, imports, however, saw a perceptible setback. The growth pace was the most rapid in 2018 when imports increased by 149% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Bahrain (X units) represented the major importer of non-electric furnaces and ovens for the roasting or melting, creating 79% of total imports. Qatar (X units) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (7.2%). Oman (X units) held a relatively small share of total imports.

Bahrain was also the fastest-growing in terms of the non-electric furnaces and ovens for the roasting or melting imports, with a CAGR of +37.4% from 2012 to 2022. At the same time, Oman (+13.3%), Qatar (+7.1%) and the United Arab Emirates (+5.8%) displayed positive paces of growth. Bahrain (+55 p.p.) significantly strengthened its position in terms of the total imports, while Oman, the United Arab Emirates and Qatar saw its share reduced by -3.7%, -22.4% and -27.1% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X), Oman ($X) and Bahrain ($X) were the countries with the highest levels of imports in 2022, with a combined 38% share of total imports.

Oman, with a CAGR of +13.6%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, declining by -63.7% against the previous year. Overall, the import price recorded a dramatic slump. The growth pace was the most rapid in 2020 an increase of 16,198%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Oman ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform