GCC: Wood Charcoal Market 2024

Wood Charcoal Market Size in GCC

The GCC wood charcoal market amounted to $X in 2021, almost unchanged from the previous year. In general, consumption, however, saw a buoyant increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Wood Charcoal Production in GCC

In value terms, wood charcoal production rose rapidly to $X in 2021 estimated in export price. Overall, production, however, saw a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 72%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Wood Charcoal Exports

Exports in GCC

In 2021, shipments abroad of wood charcoal was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports saw a notable increase. The pace of growth was the most pronounced in 2017 with an increase of 138%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, wood charcoal exports rose notably to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 88% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, finishing at X tons, which was near 78% of total exports in 2021. Oman (X tons) ranks second in terms of the total exports with a 7.4% share, followed by Saudi Arabia (6.6%) and Kuwait (5.5%). Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to wood charcoal exports from the United Arab Emirates stood at +2.9%. At the same time, Saudi Arabia (+46.6%), Bahrain (+11.1%), Oman (+2.2%) and Kuwait (+2.1%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +46.6% from 2012-2021. Saudi Arabia (+6.3 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -5.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest wood charcoal supplier in GCC, comprising 79% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 7.5% share of total exports. It was followed by Oman, with a 6.7% share.

In the United Arab Emirates, wood charcoal exports plunged by an average annual rate of -1.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+51.9% per year) and Oman (-4.4% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, waning by -8.2% against the previous year. Overall, the export price saw a pronounced descent. The most prominent rate of growth was recorded in 2018 when the export price increased by 23% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Bahrain ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+6.8%), while the other leaders experienced more modest paces of growth.

Wood Charcoal Imports

Imports in GCC

In 2021, wood charcoal imports in GCC stood at X tons, stabilizing at the previous year's figure. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +9.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -7.7% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 60%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, wood charcoal imports totaled $X in 2021. Over the period under review, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 62%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Saudi Arabia was the main importer of wood charcoal in GCC, with the volume of imports accounting for X tons, which was near 66% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), Kuwait (X tons), Oman (X tons) and Qatar (X tons), together generating a 32% share of total imports. Bahrain (X tons) took a relatively small share of total imports.

Imports into Saudi Arabia increased at an average annual rate of +9.0% from 2012 to 2021. At the same time, Qatar (+17.8%), Oman (+11.8%), the United Arab Emirates (+9.8%), Kuwait (+9.3%) and Bahrain (+3.3%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +17.8% from 2012-2021. While the share of Qatar (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Bahrain (-1.7 p.p.) and Saudi Arabia (-2.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported wood charcoal in GCC, comprising 63% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by Kuwait, with a 9.8% share.

In Saudi Arabia, wood charcoal imports expanded at an average annual rate of +22.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+16.1% per year) and Kuwait (+12.5% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, surging by 2.9% against the previous year. Import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood charcoal import price increased by +97.1% against 2012 indices. The growth pace was the most rapid in 2014 when the import price increased by 22% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+12.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform