Middle East: Artificial Fur Market 2024

Artificial Fur Market Size in the Middle East

In 2022, the Middle Eastern artificial fur market decreased by -58.8% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2021, and then contracted remarkably in the following year.

Artificial Fur Production in the Middle East

In value terms, artificial fur production totaled $X in 2022 estimated in export price. The total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.6% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 51% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Artificial Fur Exports

Exports in the Middle East

Artificial fur exports stood at X tons in 2022, increasing by 2.3% on 2021 figures. Overall, exports continue to indicate a measured increase. The pace of growth was the most pronounced in 2019 when exports increased by 188% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, artificial fur exports stood at $X in 2022. Over the period under review, exports showed a notable increase. The most prominent rate of growth was recorded in 2015 with an increase of 187%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Syrian Arab Republic dominates exports structure, accounting for X tons, which was approx. 87% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), creating a 5.1% share of total exports. Jordan (X tons) and Turkey (X tons) followed a long way behind the leaders.

Exports from Syrian Arab Republic increased at an average annual rate of +2.8% from 2012 to 2022. At the same time, the United Arab Emirates (+18.5%), Turkey (+10.5%) and Jordan (+4.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +18.5% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates and Turkey increased by +3.9 and +1.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Syrian Arab Republic ($X) remains the largest artificial fur supplier in the Middle East, comprising 72% of total exports. The second position in the ranking was taken by Jordan ($X), with a 14% share of total exports. It was followed by Turkey, with an 11% share.

In Syrian Arab Republic, artificial fur exports expanded at an average annual rate of +3.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Jordan (+1.5% per year) and Turkey (+10.0% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, with an increase of 11% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the export price increased by 56%. Over the period under review, the export prices reached the peak figure at $X per ton in 2015; however, from 2016 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 ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+0.8%), while the other leaders experienced a decline in the export price figures.

Artificial Fur Imports

Imports in the Middle East

In 2022, approx. X tons of artificial fur were imported in the Middle East; shrinking by -39.2% on the previous year's figure. Over the period under review, imports continue to indicate a precipitous decrease. The pace of growth was the most pronounced in 2019 with an increase of 1,042% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, artificial fur imports shrank to $X in 2022. In general, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when imports increased by 298% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Yemen represented the main importing country with an import of about X tons, which reached 47% of total imports. It was distantly followed by the United Arab Emirates (X tons), Israel (X tons) and Turkey (X tons), together making up a 42% share of total imports. The following importers - Bahrain (X tons), Oman (X tons) and Iran (X tons) - together made up 8.2% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bahrain (with a CAGR of +35.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest artificial fur importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Israel ($X), together comprising 76% of total imports. Yemen, Bahrain, Oman and Iran lagged somewhat behind, together accounting for a further 14%.

Bahrain, with a CAGR of +31.8%, 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 the Middle East stood at $X per ton in 2022, picking up by 51% against the previous year. In general, the import price continues to indicate resilient growth. The most prominent rate of growth was recorded in 2017 when the import price increased by 256% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the import prices remained at a lower figure.

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 Israel (+4.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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