GCC: Wooden Furniture Treatments Market 2024

Wooden Furniture Treatments Market Size in GCC

The GCC wooden furniture treatments market expanded markedly to $X in 2022, increasing by 11% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Wooden Furniture Treatments Production in GCC

In value terms, wooden furniture treatments production expanded markedly to $X in 2022 estimated in export price. Overall, production showed a buoyant increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 114%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Wooden Furniture Treatments Exports

Exports in GCC

In 2022, the amount of polishes and creams for wooden furniture and floors exported in GCC reduced to X tons, dropping by -4% on 2021 figures. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -6.5% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 92%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, wooden furniture treatments exports contracted to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value 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. Based on 2022 figures, exports increased by +23.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 51% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Saudi Arabia (X tons) represented the major exporter of polishes and creams for wooden furniture and floors, generating 79% of total exports. It was distantly followed by the United Arab Emirates (X tons), comprising a 20% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the polishes and creams for wooden furniture and floors exports, with a CAGR of +8.4% from 2012 to 2022. At the same time, the United Arab Emirates (+7.6%) displayed positive paces of growth. From 2012 to 2022, the share of Saudi Arabia increased by +4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest wooden furniture treatments supplier in GCC, comprising 91% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia amounted to +4.3%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, dropping by -1.8% against the previous year. In general, the export price saw a noticeable contraction. The growth pace was the most rapid in 2015 when the export price increased by 26% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices remained at a 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 Saudi Arabia ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.0%).

Wooden Furniture Treatments Imports

Imports in GCC

Wooden furniture treatments imports totaled X tons in 2022, increasing by 9.7% on the previous year's figure. Over the period under review, imports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2020 when imports increased by 13% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, wooden furniture treatments imports rose markedly to $X in 2022. Overall, imports, however, saw a deep downturn. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Oman (X tons) and the United Arab Emirates (X tons) were the key importers of polishes and creams for wooden furniture and floors in 2022, recording approx. 34% and 27% of total imports, respectively. Bahrain (X tons) ranks next in terms of the total imports with a 17% share, followed by Kuwait (15%) and Qatar (6.8%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman (with a CAGR of +19.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest wooden furniture treatments importing markets in GCC were the United Arab Emirates ($X), Bahrain ($X) and Kuwait ($X), together accounting for 72% of total imports. Oman and Qatar lagged somewhat behind, together comprising a further 28%.

Oman, with a CAGR of +16.0%, 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 a decline in the imports figures.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, rising by 4.5% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the import price increased by 32% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 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 Qatar ($X per ton), while Oman ($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 (+0.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform