GCC: Market for Wood Pulp, Excluding Mechanical Wood Pulp 2024

Market Size for Wood Pulp, Excluding Mechanical Wood Pulp in GCC

After seven years of growth, the GCC market for wood pulp, excluding mechanical wood pulp decreased by -8.1% to $X in 2022. In general, consumption showed a buoyant increase. The level of consumption peaked at $X in 2021, and then fell in the following year.

Production of Wood Pulp, Excluding Mechanical Wood Pulp in GCC

In value terms, production of wood pulp, excluding mechanical wood pulp shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a precipitous contraction. The pace of growth was the most pronounced in 2018 with an increase of 9.8% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Wood Pulp, Excluding Mechanical Wood Pulp

Exports in GCC

In 2022, the amount of wood pulp, excluding mechanical wood pulp exported in GCC declined to X tons, waning by -6.9% compared with the previous year's figure. In general, exports, however, saw buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 43% against the previous year. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, exports of wood pulp, excluding mechanical wood pulp dropped to $X in 2022. Total exports indicated measured growth from 2012 to 2022: its value 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. Based on 2022 figures, exports increased by +180.2% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 65%. Over the period under review, the exports of hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

The United Arab Emirates dominates pulp structure, resulting at X tons, which was near 94% of total exports in 2022. It was distantly followed by Oman (X tons), making up a 6% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +5.7% from 2012 to 2022. At the same time, Oman (+66.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +66.7% from 2012-2022. From 2012 to 2022, the share of Oman increased by +5.9 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest wood pulp, excluding mechanical wood pulp supplier in GCC, comprising 96% of total exports. The second position in the ranking was held by Oman ($X), with a 4.2% share of total exports.

In the United Arab Emirates, exports of wood pulp, excluding mechanical wood pulp expanded at an average annual rate of +3.5% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the export price, however, continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2017 an increase of 15%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-2.1%).

Imports of Wood Pulp, Excluding Mechanical Wood Pulp

Imports in GCC

Imports of wood pulp, excluding mechanical wood pulp totaled X tons in 2022, approximately reflecting 2021. Overall, imports saw a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of 70%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of wood pulp, excluding mechanical wood pulp reduced to $X in 2022. Over the period under review, imports recorded prominent growth. The pace of growth was the most pronounced in 2018 when imports increased by 54%. Over the period under review, imports of attained the peak figure at $X in 2021, and then declined in the following year.

Imports by Country

The United Arab Emirates dominates pulp structure, amounting to X tons, which was near 91% of total imports in 2022. It was distantly followed by Saudi Arabia (X tons), committing a 4.5% share of total imports. The following importers - Bahrain (X tons) and Kuwait (X tons) - each reached a 4.2% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the wood pulp, excluding mechanical wood pulp imports, with a CAGR of +23.3% from 2012 to 2022. Kuwait experienced a relatively flat trend pattern. Saudi Arabia (-5.8%) and Bahrain (-9.4%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+50 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kuwait (-5.1 p.p.), Bahrain (-20.1 p.p.) and Saudi Arabia (-25.1 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported wood pulp, excluding mechanical wood pulp in GCC, comprising 86% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 7.1% share of total imports. It was followed by Bahrain, with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +21.0%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (-3.1% per year) and Bahrain (-8.1% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, falling by -10.9% against the previous year. Overall, the import price continues to indicate a perceptible setback. The pace of growth appeared the most rapid in 2021 when the import price increased by 30% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Bahrain ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform