MENA: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in MENA

In 2022, the MENA's metal office furniture market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption saw a perceptible increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Metal Office Furniture Production in MENA

In value terms, metal office furniture production declined rapidly to $X in 2022 estimated in export price. Over the period under review, production enjoyed prominent growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 86% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Metal Office Furniture Exports

Exports in MENA

In 2022, exports of metal office furniture in MENA contracted to X tons, leveling off at 2021. Total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +8.6% against 2020 indices. The growth pace was the most rapid in 2015 when exports increased by 45% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, metal office furniture exports rose rapidly to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +31.8% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 22%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

Turkey prevails in exports structure, recording X tons, which was approx. 81% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons) and Palestine (X tons), together achieving an 11% share of total exports. Oman (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to metal office furniture exports from Turkey stood at +7.7%. At the same time, Palestine (+11.6%) displayed positive paces of growth. Moreover, Palestine emerged as the fastest-growing exporter exported in MENA, with a CAGR of +11.6% from 2012-2022. The United Arab Emirates and Oman experienced a relatively flat trend pattern. Turkey (+9.1 p.p.) and Palestine (+2 p.p.) significantly strengthened its position in terms of the total exports, while Oman and the United Arab Emirates saw its share reduced by -3.9% and -4.7% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest metal office furniture supplier in MENA, comprising 73% of total exports. The second position in the ranking was taken by Palestine ($X), with an 11% share of total exports. It was followed by the United Arab Emirates, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at +8.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Palestine (+13.0% per year) and the United Arab Emirates (-1.3% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, increasing by 9.1% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 11% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 Palestine ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Palestine (+1.3%), while the other leaders experienced mixed trends in the export price figures.

Metal Office Furniture Imports

Imports in MENA

In 2022, supplies from abroad of metal office furniture increased by 4.6% to X tons for the first time since 2016, thus ending a five-year declining trend. In general, imports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 5.1% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, metal office furniture imports totaled $X in 2022. Overall, imports, however, saw a deep contraction. The pace of growth was the most pronounced in 2021 when imports increased by 6.3%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Saudi Arabia represented the main importer of metal office furniture in MENA, with the volume of imports resulting at X tons, which was approx. 39% of total imports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 19% share, followed by Qatar (7.8%), Kuwait (6.6%), Israel (6.1%) and Iraq (5.8%). Oman (X tons) held a minor share of total imports.

Imports into Saudi Arabia decreased at an average annual rate of -8.6% from 2012 to 2022. At the same time, Israel (+19.1%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in MENA, with a CAGR of +19.1% from 2012-2022. By contrast, the United Arab Emirates (-2.1%), Iraq (-3.4%), Kuwait (-4.7%), Oman (-5.6%) and Qatar (-10.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Israel and Iraq increased by +7.8, +5.6 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal office furniture importing markets in MENA were Saudi Arabia ($X), the United Arab Emirates ($X) and Israel ($X), together comprising 62% of total imports.

In terms of the main importing countries, Israel, with a CAGR of +19.1%, recorded the highest growth rate of the value of imports, 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 ton in 2022, dropping by -2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2017 an increase of 11% against the previous year. The level of import peaked at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+9.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform