Middle East: Articles Of Peat Market 2024

Articles Of Peat Market Size in the Middle East

The Middle Eastern articles of peat market stood at $X in 2022, increasing by 2.4% against the previous year. The market value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Articles Of Peat Production in the Middle East

In value terms, articles of peat production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 36%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Articles Of Peat Exports

Exports in the Middle East

After three years of growth, shipments abroad of articles of peat decreased by -48.1% to X tons in 2022. Over the period under review, exports, however, posted a tangible expansion. The growth pace was the most rapid in 2017 with an increase of 160%. The volume of export peaked at X tons in 2021, and then contracted remarkably in the following year.

In value terms, articles of peat exports skyrocketed to $X in 2022. In general, exports, however, enjoyed resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Jordan (X tons), the United Arab Emirates (X tons) and Turkey (X tons), together amounting to 97% of total export.

From 2012 to 2022, the biggest increases were recorded for Jordan (with a CAGR of +90.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) emerged as the largest articles of peat supplier in the Middle East, comprising 85% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total exports.

In Turkey, articles of peat exports expanded at an average annual rate of +100.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+14.5% per year) and Jordan (+34.3% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, picking up by 978% against the previous year. Over the period under review, the export price showed a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+14.7%), while the other leaders experienced mixed trends in the export price figures.

Articles Of Peat Imports

Imports in the Middle East

In 2022, purchases abroad of articles of peat increased by 2.2% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 180%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, articles of peat imports soared to $X in 2022. In general, imports posted resilient growth. The pace of growth was the most pronounced in 2014 when imports increased by 126%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

The countries with the highest levels of articles of peat imports in 2022 were Israel (X tons), Kuwait (X tons), Turkey (X tons), Oman (X tons) and Qatar (X tons), together resulting at 89% of total import. It was distantly followed by Yemen (X tons), constituting a 5% share of total imports. The United Arab Emirates (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Turkey (with a CAGR of +51.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest articles of peat importing markets in the Middle East were Turkey ($X), Israel ($X) and Kuwait ($X), together comprising 80% of total imports.

Among the main importing countries, Turkey, with a CAGR of +58.1%, saw the highest rates of growth with regard to 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

In 2022, the import price in the Middle East amounted to $X per ton, picking up by 51% against the previous year. Overall, the import price continues to indicate a strong expansion. The growth pace was the most rapid in 2016 when the import price increased by 87%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

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 Turkey ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Yemen (+10.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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