MENA: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in MENA

The MENA's machine-tool for working wood market skyrocketed to $X in 2021, picking up by 32% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Machine-Tools For Working Wood in MENA

In value terms, machine-tool for working wood production reduced modestly to $X in 2021 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +117.4% against 2013 indices. The pace of growth was the most pronounced in 2014 with an increase of 55%. Over the period under review, production attained the peak level at $X in 2020, and then declined in the following year.

Exports of Machine-Tools For Working Wood

Exports in MENA

In 2021, the amount of machine-tools for working wood exported in MENA surged to X tons, growing by 72% compared with 2020. Overall, exports posted resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, machine-tool for working wood exports surged to $X in 2021. Over the period under review, exports showed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey prevails in exports structure, finishing at X tons, which was near 93% of total exports in 2021. The United Arab Emirates (X tons) took a relatively small share of total exports.

Turkey was also the fastest-growing in terms of the machine-tools for working wood exports, with a CAGR of +10.4% from 2012 to 2021. The United Arab Emirates (-5.1%) illustrated a downward trend over the same period. Turkey (+15 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -6.1% from 2012 to 2021, respectively.

In value terms, Turkey ($X) remains the largest machine-tool for working wood supplier in MENA, comprising 94% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 2% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Turkey amounted to +9.2%.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 15% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates 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 (+5.8%).

Imports of Machine-Tools For Working Wood

Imports in MENA

In 2021, supplies from abroad of machine-tools for working wood increased by 62% to X tons, rising for the second year in a row after two years of decline. Total imports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +85.4% against 2019 indices. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, machine-tool for working wood imports soared to $X in 2021. Total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +84.1% against 2019 indices. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Turkey represented the largest importing country with an import of about X tons, which accounted for 29% of total imports. Iran (X tons) ranks second in terms of the total imports with a 10% share, followed by the United Arab Emirates (10%), Egypt (10%), Iraq (7.1%), Algeria (6%) and Morocco (5.5%). Saudi Arabia (X tons), Israel (X tons), Libya (X tons), Tunisia (X tons), Oman (X tons) and Jordan (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to machine-tool for working wood imports into Turkey stood at +1.0%. At the same time, Egypt (+23.1%), Oman (+10.5%), the United Arab Emirates (+9.0%), Iraq (+8.3%), Jordan (+4.4%), Israel (+4.1%), Iran (+3.7%) and Morocco (+3.5%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in MENA, with a CAGR of +23.1% from 2012-2021. By contrast, Algeria (-1.3%), Tunisia (-4.0%), Libya (-5.1%) and Saudi Arabia (-12.1%) illustrated a downward trend over the same period. Egypt (+8.4 p.p.), the United Arab Emirates (+4.8 p.p.), Iraq (+3.1 p.p.) and Iran (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Turkey, Algeria, Libya and Saudi Arabia saw its share reduced by -1.8%, -1.8%, -1.9% and -12.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported machine-tools for working wood in MENA, comprising 34% of total imports. The second position in the ranking was taken by Egypt ($X), with a 14% share of total imports. It was followed by the United Arab Emirates, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey was relatively modest. In the other countries, the average annual rates were as follows: Egypt (+22.2% per year) and the United Arab Emirates (+4.7% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, standing approx. at the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the import price increased by 6.3% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform