GCC: Wood Pellets Market 2025

Wood Pellets Market Size in GCC

In 2022, the GCC wood pellets market increased by 13% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption, however, saw a abrupt decline. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Wood Pellets Production in GCC

In value terms, wood pellets production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a modest increase. The growth pace was the most rapid in 2015 with an increase of 155% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Wood Pellets Exports

Exports in GCC

In 2022, overseas shipments of wood pellets decreased by -7.4% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 2,287%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, wood pellets exports soared to $X in 2022. In general, exports, however, continue to indicate moderate growth. The pace of growth appeared the most rapid in 2019 with an increase of 1,513% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Bahrain (X tons) was the key exporter of wood pellets in GCC, generating 98% of total export.

Bahrain was also the fastest-growing in terms of the wood pellets exports, with a CAGR of +78.8% from 2012 to 2022. From 2012 to 2022, the share of Bahrain increased by +97 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahrain ($X) also remains the largest wood pellets supplier in GCC.

In Bahrain, wood pellets exports expanded at an average annual rate of +110.1% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, surging by 52% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Bahrain.

From 2012 to 2022, the rate of growth in terms of prices for Bahrain amounted to +17.4% per year.

Wood Pellets Imports

Imports in GCC

In 2022, purchases abroad of wood pellets decreased by -21.5% to X tons, falling for the fifth year in a row after four years of growth. Over the period under review, imports saw a deep reduction. The pace of growth was the most pronounced in 2017 when imports increased by 26%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, wood pellets imports declined to $X in 2022. In general, imports saw a deep setback. The pace of growth was the most pronounced in 2014 when imports increased by 39% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the key importing country with an import of around X tons, which recorded 39% of total imports. Kuwait (X tons) held the second position in the ranking, followed by Bahrain (X tons), Oman (X tons) and Saudi Arabia (X tons). All these countries together took near 57% share of total imports. Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kuwait (with a CAGR of +34.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wood pellets importing markets in GCC were the United Arab Emirates ($X), Kuwait ($X) and Bahrain ($X), with a combined 83% share of total imports.

Kuwait, with a CAGR of +29.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, growing by 11% against the previous year. Import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood pellets import price increased by +19.9% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the import price increased by 25% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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 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 Qatar (+9.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform