MENA: Market for Wood Residues, Pellets And Other Agglomerates 2024

Market Size for Wood Residues, Pellets And Other Agglomerates in MENA

In 2021, the MENA's market for wood residues, pellets and other agglomerates increased by 0.4% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +8.1% against 2018 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Production of Wood Residues, Pellets And Other Agglomerates in MENA

In value terms, production of wood residues, pellets and other agglomerates contracted slightly to $X in 2021 estimated in export price. The total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.0% 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 +23.6% against 2017 indices. The growth pace was the most rapid in 2016 with an increase of 39% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production of growth failed to regain momentum.

Exports of Wood Residues, Pellets And Other Agglomerates

Exports in MENA

In 2021, shipments abroad of wood residues, pellets and other agglomerates was finally on the rise to reach X cubic meters for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2018 when exports increased by 95%. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, exports of wood residues, pellets and other agglomerates surged to $X in 2021. Overall, exports showed a moderate increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey dominates agglomerates structure, finishing at X cubic meters, which was approx. 86% of total exports in 2021. The following exporters - Tunisia (X cubic meters), Morocco (X cubic meters), Kuwait (X cubic meters) and Saudi Arabia (X cubic meters) - together made up 10% of total exports.

Exports from Turkey increased at an average annual rate of +69.1% from 2012 to 2021. At the same time, Kuwait (+74.1%), Tunisia (+33.2%) and Morocco (+8.0%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in MENA, with a CAGR of +74.1% from 2012-2021. By contrast, Saudi Arabia (-20.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey, Tunisia and Kuwait increased by +85, +3.5 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest wood residues, pellets and other agglomerates supplier in MENA, comprising 76% of total exports. The second position in the ranking was taken by Tunisia ($X), with a 7.3% share of total exports. It was followed by Morocco, with a 7% share.

In Turkey, exports of wood residues, pellets and other agglomerates increased at an average annual rate of +50.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Tunisia (+43.7% per year) and Morocco (+12.5% per year).

Export Prices by Country

The export price in MENA stood at $X per cubic meter in 2021, surging by 4% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2013 when the export price increased by 15%. As a result, the export price attained the peak level of $X per cubic meter. From 2014 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Morocco ($X per cubic meter), while Turkey ($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 Tunisia (+7.8%), while the other leaders experienced more modest paces of growth.

Imports of Wood Residues, Pellets And Other Agglomerates

Imports in MENA

In 2021, the amount of wood residues, pellets and other agglomerates imported in MENA soared to X cubic meters, increasing by 18% against the year before. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +32.2% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 30% against the previous year. Over the period under review, imports of reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, imports of wood residues, pellets and other agglomerates skyrocketed to $X in 2021. Over the period under review, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2016 when imports increased by 40% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X cubic meters), distantly followed by Israel (X cubic meters), Qatar (X cubic meters), Oman (X cubic meters) and Kuwait (X cubic meters) represented the largest importers of wood residues, pellets and other agglomerates, together comprising 82% of total imports. Bahrain (X cubic meters) and Syrian Arab Republic (X cubic meters) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Syrian Arab Republic (with a CAGR of +67.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported wood residues, pellets and other agglomerates in MENA, comprising 36% of total imports. The second position in the ranking was held by Israel ($X), with a 16% share of total imports. It was followed by Qatar, with a 13% share.

In the United Arab Emirates, imports of wood residues, pellets and other agglomerates increased at an average annual rate of +7.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+21.7% per year) and Qatar (-2.0% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per cubic meter, increasing by 5.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 17% against the previous year. The level of import peaked at $X per cubic meter in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X per cubic meter), while Syrian Arab Republic ($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 Bahrain (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform