MENA: Plywood Market 2024

Plywood Market Size in MENA

In 2021, after two years of decline, there was significant growth in the MENA's plywood market, when its value increased by 14% to $X. Overall, consumption, however, continues to indicate a slight decline. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Plywood Production in MENA

In value terms, plywood production surged to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 78%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Plywood Exports

Exports in MENA

In 2021, shipments abroad of plywood increased by 117% to X cubic meters for the first time since 2017, thus ending a three-year declining trend. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plywood exports soared to $X in 2021. Total exports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X cubic meters) and the United Arab Emirates (X cubic meters) represented roughly 80% of total exports in 2021. It was distantly followed by Saudi Arabia (X cubic meters), constituting a 16% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Turkey (with a CAGR of +23.8%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Turkey ($X) remains the largest plywood supplier in MENA, comprising 55% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 27% share of total exports.

In Turkey, plywood exports expanded at an average annual rate of +20.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-3.3% per year) and Saudi Arabia (+3.3% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per cubic meter, increasing by 11% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 17%. The level of export peaked at $X per cubic meter in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per cubic meter), while Saudi Arabia ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.9%), while the other leaders experienced a decline in the export price figures.

Plywood Imports

Imports in MENA

In 2021, purchases abroad of plywood increased by 4.7% to X cubic meters for the first time since 2014, thus ending a six-year declining trend. Overall, imports, however, recorded a pronounced slump. The pace of growth appeared the most rapid in 2014 when imports increased by 23% against the previous year. As a result, imports reached the peak of X cubic meters. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, plywood imports surged to $X in 2021. In general, imports, however, continue to indicate a pronounced shrinkage. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X cubic meters) and Saudi Arabia (X cubic meters) were the main importers of plywood in MENA, together recording approx. 43% of total imports. It was distantly followed by Israel (X cubic meters), Iraq (X cubic meters), Kuwait (X cubic meters), Turkey (X cubic meters) and Qatar (X cubic meters), together generating a 41% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iraq (with a CAGR of +29.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plywood importing markets in MENA were Israel ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), together comprising 52% of total imports. These countries were followed by Iraq, Turkey, Kuwait and Qatar, which together accounted for a further 30%.

Iraq, with a CAGR of +22.8%, recorded 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 cubic meter in 2021, rising by 16% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per cubic meter in 2012; however, from 2013 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 Turkey ($X per cubic meter), while the United Arab Emirates ($X per cubic meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform