Iran: Wood Tool Market 2024

Wood Tool Market Size in Iran

The Iranian wood tool market was finally on the rise to reach $X in 2021, after four years of decline. Over the period under review, consumption showed a strong increase. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Wood Tool Exports

Exports from Iran

In 2021, shipments abroad of tools of wood increased by 75% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 90%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, wood tool exports skyrocketed to $X in 2021. In general, exports recorded a buoyant increase. The growth pace was the most rapid in 2020 when exports increased by 87% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Turkey (X tons), the United Arab Emirates (X tons) and Kuwait (X tons) were the main destinations of wood tool exports from Iran, together comprising 84% of total exports. Azerbaijan and Oman lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Azerbaijan (with a CAGR of +61.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for tools of wood exports from Iran, comprising 47% of total exports. The second position in the ranking was held by Kuwait ($X), with a 19% share of total exports. It was followed by Azerbaijan, with an 18% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates stood at +52.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+37.3% per year) and Azerbaijan (+60.0% per year).

Export Prices by Country

The average wood tool export price stood at $X per ton in 2021, approximately mirroring the previous year. In general, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood tool export price decreased by -2.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 35% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+15.1%), while the prices for the other major destinations experienced mixed trend patterns.

Wood Tool Imports

Imports into Iran

In 2021, the amount of tools of wood imported into Iran surged to X tons, rising by 151% against 2020. In general, imports continue to indicate a buoyant increase. The growth pace was the most rapid in 2016 when imports increased by 502%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, wood tool imports skyrocketed to $X in 2021. Over the period under review, imports saw a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 414% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of wood tool to Iran, accounting for a 61% share of total imports. Moreover, wood tool imports from Russia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia totaled +45.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+27.6% per year) and China (-11.1% per year).

In value terms, the largest wood tool suppliers to Iran were Russia ($X), Turkey ($X) and China ($X), together comprising 91% of total imports.

Among the main suppliers, Russia, with a CAGR of +51.3%, recorded the highest rates of growth with regard to 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 2021, the average wood tool import price amounted to $X per ton, surging by 38% against the previous year. In general, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood tool import price increased by +188.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 110% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+30.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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