MENA: Artificial Fur Market 2024

Artificial Fur Market Size in MENA

After five years of growth, the MENA's artificial fur market decreased by -66.3% to $X in 2022. Overall, consumption saw a noticeable downturn. The level of consumption peaked at $X in 2021, and then dropped remarkably in the following year.

Artificial Fur Production in MENA

In value terms, artificial fur production reduced to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.2% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 28% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Artificial Fur Exports

Exports in MENA

Artificial fur exports amounted to X tons in 2022, growing by 2.3% compared with 2021 figures. Overall, exports posted a noticeable expansion. The most prominent rate of growth was recorded in 2019 with an increase of 188%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, artificial fur exports rose notably to $X in 2022. Over the period under review, exports saw temperate growth. The most prominent rate of growth was recorded in 2015 with an increase of 185% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Syrian Arab Republic prevails in exports structure, resulting at X tons, which was near 87% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), committing a 5.1% share of total exports. Jordan (X tons) and Turkey (X tons) took a minor share of total exports.

Exports from Syrian Arab Republic increased at an average annual rate of +2.8% from 2012 to 2022. At the same time, the United Arab Emirates (+18.5%), Turkey (+10.5%) and Jordan (+4.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +18.5% from 2012-2022. The United Arab Emirates (+3.9 p.p.) and Turkey (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Syrian Arab Republic ($X) remains the largest artificial fur supplier in MENA, comprising 70% of total exports. The second position in the ranking was held by Jordan ($X), with a 13% share of total exports. It was followed by Turkey, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Syrian Arab Republic stood at +3.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Jordan (+1.5% per year) and Turkey (+10.0% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, with an increase of 11% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 51%. Over the period under review, the export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+0.8%), while the other leaders experienced a decline in the export price figures.

Artificial Fur Imports

Imports in MENA

In 2022, artificial fur imports in MENA declined markedly to X tons, which is down by -38.1% compared with the year before. Over the period under review, imports recorded a significant decline. The most prominent rate of growth was recorded in 2019 when imports increased by 707%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, artificial fur imports fell to $X in 2022. Overall, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 262%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Yemen (X tons) represented the major importer of artificial fur, making up 41% of total imports. The United Arab Emirates (X tons) held a 26% share (based on physical terms) of total imports, which put it in second place, followed by Egypt (8.6%), Israel (6.6%) and Turkey (4.7%). The following importers - Bahrain (X tons) and Oman (X tons) - together made up 5.6% of total imports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +35.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest artificial fur importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Israel ($X), together accounting for 70% of total imports. Yemen, Egypt, Bahrain and Oman lagged somewhat behind, together comprising a further 15%.

Bahrain, with a CAGR of +31.8%, 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

The import price in MENA stood at $X per ton in 2022, picking up by 48% against the previous year. Over the period under review, the import price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2017 an increase of 94% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+4.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform