GCC: Sawnwood (Coniferous) Market 2024

Sawnwood (Coniferous) Market Size in GCC

The GCC sawnwood (coniferous) market surged to $X in 2022, growing by 338% against the previous year. Over the period under review, consumption posted a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sawnwood (Coniferous) Production in GCC

In value terms, sawnwood (coniferous) production rose slightly to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 -2.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 45% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Sawnwood (Coniferous) Exports

Exports in GCC

In 2022, approx. X cubic meters of sawnwood (coniferous) were exported in GCC; which is down by -17.6% against the previous year's figure. Over the period under review, exports saw a deep slump. The pace of growth appeared the most rapid in 2017 when exports increased by 937% against the previous year. The volume of export peaked at X cubic meters in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, sawnwood (coniferous) exports skyrocketed to $X in 2022. Overall, exports showed a deep downturn. The pace of growth was the most pronounced in 2017 with an increase of 2,062%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain represented the main exporting country with an export of about X cubic meters, which reached 62% of total exports. It was distantly followed by the United Arab Emirates (X cubic meters) and Oman (X cubic meters), together constituting a 37% share of total exports.

Bahrain was also the fastest-growing in terms of the sawnwood (coniferous) exports, with a CAGR of +42.2% from 2012 to 2022. Oman (-9.8%) and the United Arab Emirates (-19.6%) illustrated a downward trend over the same period. Bahrain (+61 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -47.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahrain ($X) emerged as the largest sawnwood (coniferous) supplier in GCC, comprising 64% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 32% share of total exports.

In Bahrain, sawnwood (coniferous) exports expanded at an average annual rate of +38.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (-20.3% per year) and Oman (-10.1% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per cubic meter, growing by 264% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per cubic meter in 2012; however, from 2013 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 ($X per cubic meter), while Oman ($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 Oman (-0.4%), while the other leaders experienced a decline in the export price figures.

Sawnwood (Coniferous) Imports

Imports in GCC

In 2022, supplies from abroad of sawnwood (coniferous) increased by 146% to X cubic meters, rising for the fourth year in a row after six years of decline. Overall, imports saw a pronounced expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, sawnwood (coniferous) imports soared to $X in 2022. In general, imports saw a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates (X cubic meters) and Bahrain (X cubic meters) dominates imports structure, together mixing up 97% of total imports. Oman (X cubic meters) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bahrain (with a CAGR of +90.8%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Bahrain ($X) constitutes the largest market for imported sawnwood (coniferous) in GCC, comprising 67% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 30% share of total imports.

In Bahrain, sawnwood (coniferous) imports expanded at an average annual rate of +86.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+5.8% per year) and Oman (+7.5% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per cubic meter, surging by 65% against the previous year. Over the period under review, the import price saw a resilient increase. The growth pace was the most rapid in 2017 an increase of 68%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X per cubic meter), while the United Arab Emirates ($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 the United Arab Emirates (+7.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform