MENA: Market for Conveyor Or Transmission Belts Or Belting 2024

Market Size for Conveyor Or Transmission Belts Or Belting in MENA

In 2021, the MENA's conveyor or transmission belt market decreased by -10.1% to $X, falling for the second consecutive year after two years of growth. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Conveyor Or Transmission Belts Or Belting in MENA

In value terms, conveyor or transmission belt production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 27% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Conveyor Or Transmission Belts Or Belting

Exports in MENA

In 2021, the amount of conveyor or transmission belts or belting exported in MENA skyrocketed to X tons, increasing by 79% against 2020 figures. In general, exports recorded a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, conveyor or transmission belt exports surged to $X in 2021. Overall, exports showed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey prevails in exports structure, reaching X tons, which was near 94% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), making up a 5.5% share of total exports.

Turkey was also the fastest-growing in terms of the conveyor or transmission belts or belting exports, with a CAGR of +14.3% from 2012 to 2021. At the same time, the United Arab Emirates (+5.8%) displayed positive paces of growth. From 2012 to 2021, the share of Turkey increased by +6.6 percentage points.

In value terms, Turkey ($X) remains the largest conveyor or transmission belt supplier in MENA, comprising 86% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 10% share of total exports.

In Turkey, conveyor or transmission belt exports expanded at an average annual rate of +11.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, falling by -2.1% against the previous year. Over the period under review, the export price saw a perceptible curtailment. The pace of growth was the most pronounced in 2013 when the export price increased by 11%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.1%).

Imports of Conveyor Or Transmission Belts Or Belting

Imports in MENA

Conveyor or transmission belt imports rose modestly to X tons in 2021, surging by 4.8% compared with 2020. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 13%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, conveyor or transmission belt imports surged to $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of conveyor or transmission belt imports in 2021 were Iran (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons) and Turkey (X tons), together resulting at 63% of total import. Algeria (X tons) took a 6.7% share (based on physical terms) of total imports, which put it in second place, followed by Iraq (5%) and Morocco (4.7%). Egypt (X tons), Jordan (X tons), Oman (X tons), Tunisia (X tons), Israel (X tons) and Libya (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Libya (with a CAGR of +14.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest conveyor or transmission belt importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), with a combined 50% share of total imports. Algeria, Saudi Arabia, Morocco, Israel, Iraq, Egypt, Tunisia, Oman, Jordan and Libya lagged somewhat behind, together accounting for a further 43%.

Iraq, with a CAGR of +9.8%, recorded the highest growth rate of 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 2021, the import price in MENA amounted to $X per ton, surging by 15% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform