MENA: Non-Electric Roasting Furnace Market 2024

Non-Electric Roasting Furnace Market Size in MENA

In 2022, the MENA's non-electric roasting furnace market increased by 17% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption recorded a moderate increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Non-Electric Roasting Furnace Production in MENA

In value terms, non-electric roasting furnace production reduced to $X in 2022 estimated in export price. Overall, production continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 117% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Non-Electric Roasting Furnace Exports

Exports in MENA

In 2022, shipments abroad of non-electric furnaces and ovens for the roasting or melting increased by 61% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 206% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-electric roasting furnace exports declined to $X in 2022. Overall, exports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 47% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Bahrain was the major exporter of non-electric furnaces and ovens for the roasting or melting in MENA, with the volume of exports accounting for X units, which was near 69% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units) and Turkey (X units), together creating a 25% share of total exports. The following exporters - Oman (X units) and Kuwait (X units) - each finished at a 4.2% share of total exports.

Exports from Bahrain decreased at an average annual rate of -5.7% from 2012 to 2022. At the same time, Turkey (+2.2%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of +2.2% from 2012-2022. By contrast, Oman (-1.2%), Kuwait (-6.2%) and the United Arab Emirates (-6.5%) illustrated a downward trend over the same period. While the share of Turkey (+4.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-2.2 p.p.) and Bahrain (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest non-electric roasting furnace supplier in MENA, comprising 77% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total exports. It was followed by Bahrain, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled +2.0%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-3.7% per year) and Bahrain (-31.6% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, shrinking by -46.3% against the previous year. Over the period under review, the export price showed a abrupt decrease. The pace of growth was the most pronounced in 2019 an increase of 127% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+18.8%), while the other leaders experienced mixed trends in the export price figures.

Non-Electric Roasting Furnace Imports

Imports in MENA

In 2022, purchases abroad of non-electric furnaces and ovens for the roasting or melting was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, imports recorded a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 1,049%. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, non-electric roasting furnace imports totaled $X in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 67% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Bahrain was the largest importing country with an import of around X units, which recorded 53% of total imports. Turkey (X units) held a 23% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (7%), the United Arab Emirates (4.9%) and Egypt (4.5%). The following importers - Oman (X units) and Iran (X units) - each recorded a 4.6% share of total imports.

Bahrain was also the fastest-growing in terms of the non-electric furnaces and ovens for the roasting or melting imports, with a CAGR of +37.4% from 2012 to 2022. At the same time, Oman (+13.3%), Qatar (+7.1%), the United Arab Emirates (+5.8%) and Turkey (+2.9%) displayed positive paces of growth. By contrast, Iran (-6.3%) and Egypt (-11.3%) illustrated a downward trend over the same period. Bahrain (+49 p.p.) significantly strengthened its position in terms of the total imports, while Iran, Turkey and Egypt saw its share reduced by -5.8%, -9.4% and -23.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported non-electric furnaces and ovens for the roasting or melting in MENA, comprising 61% of total imports. The second position in the ranking was taken by Iran ($X), with a 7.1% share of total imports. It was followed by the United Arab Emirates, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +11.1%. The remaining importing countries recorded the following average annual rates of imports growth: Iran (-6.4% per year) and the United Arab Emirates (+1.4% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per unit, reducing by -23.7% against the previous year. In general, the import price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 2,379%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+8.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform