Iran: Fats Preparation Machinery Market 2024

Fats Preparation Machinery Market Size in Iran

The Iranian fats preparation machinery market shrank markedly to $X in 2022, waning by -22.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a prominent increase. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Fats Preparation Machinery Exports

Exports from Iran

In 2022, shipments abroad of machinery for the extraction or preparation of animal or fixed vegetable fats or oils decreased by -15.8% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 89% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then dropped sharply in the following year.

In value terms, fats preparation machinery exports declined remarkably to $X in 2022. Overall, exports recorded a abrupt decrease. The pace of growth was the most pronounced in 2021 when exports increased by 191% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for fats preparation machinery exports from Iran, with a 44% share of total exports. Moreover, fats preparation machinery exports to the United Arab Emirates exceeded the volume sent to the second major destination, Bahrain (X units), sevenfold. India (X units) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (0.0% per year) and India (0.0% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for machinery for the extraction or preparation of animal or fixed vegetable fats or oils exports from Iran, comprising 68% of total exports. The second position in the ranking was taken by China ($X), with a 7.5% share of total exports. It was followed by Turkey, with a 6% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+52.5% per year) and Turkey (-14.7% per year).

Export Prices by Country

The average fats preparation machinery export price stood at $X per unit in 2022, shrinking by -20.3% against the previous year. In general, the export price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 when the average export price increased by 161%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+57.3%), while the prices for the other major destinations experienced more modest paces of growth.

Fats Preparation Machinery Imports

Imports into Iran

After two years of growth, supplies from abroad of machinery for the extraction or preparation of animal or fixed vegetable fats or oils decreased by -18.3% to X units in 2022. In general, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 429% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, fats preparation machinery imports declined remarkably to $X in 2022. Over the period under review, imports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of 324%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, India (X units) constituted the largest fats preparation machinery supplier to Iran, with a 57% share of total imports. Moreover, fats preparation machinery imports from India exceeded the figures recorded by the second-largest supplier, Turkey (X units), fivefold. The United Arab Emirates (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled +37.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+22.7% per year) and the United Arab Emirates (+9.8% per year).

In value terms, the United Arab Emirates ($X), Turkey ($X) and India ($X) constituted the largest fats preparation machinery suppliers to Iran, together comprising 61% of total imports.

In terms of the main suppliers, India, with a CAGR of +27.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average fats preparation machinery import price amounted to $X per unit, dropping by -13.9% against the previous year. In general, the import price recorded a abrupt curtailment. The growth pace was the most rapid in 2021 an increase of 41% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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