Middle East: Market for Button Blanks & Button Moulds 2024

Market Size for Button Blanks & Button Moulds in the Middle East

For the fourth consecutive year, the Middle Eastern button blanks and moulds market recorded growth in sales value, which increased by 6.7% to $X in 2022. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +57.7% against 2016 indices. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Production of Button Blanks & Button Moulds in the Middle East

In value terms, button blanks and moulds production reached $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 -0.2% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 45% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Button Blanks & Button Moulds

Exports in the Middle East

In 2022, the amount of button blanks & button moulds exported in the Middle East reduced to X tons, which is down by -7.1% on the previous year's figure. In general, exports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 85% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, button blanks and moulds exports stood at $X in 2022. Overall, exports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2016 when exports increased by 54%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey dominates exports structure, finishing at X tons, which was approx. 94% of total exports in 2022. Israel (X tons) and the United Arab Emirates (X tons) took a relatively small share of total exports.

Exports from Turkey increased at an average annual rate of +7.0% from 2012 to 2022. At the same time, Israel (+40.3%) and the United Arab Emirates (+4.7%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +40.3% from 2012-2022. While the share of Israel (+3.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (-1.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest button blanks and moulds supplier in the Middle East, comprising 98% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 1.2% share of total exports.

In Turkey, button blanks and moulds exports increased at an average annual rate of +6.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+0.6% per year) and Israel (+18.6% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, surging by 7.9% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 31% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 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 Turkey ($X per ton), while Israel ($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 (-0.1%), while the other leaders experienced a decline in the export price figures.

Imports of Button Blanks & Button Moulds

Imports in the Middle East

In 2022, purchases abroad of button blanks & button moulds increased by 33% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports showed tangible growth. The growth pace was the most rapid in 2021 when imports increased by 128% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, button blanks and moulds imports soared to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 44% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Turkey prevails in imports structure, resulting at X tons, which was approx. 88% of total imports in 2022. It was distantly followed by Saudi Arabia (X tons), committing a 5.8% share of total imports. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to button blanks and moulds imports into Turkey stood at +4.7%. At the same time, Saudi Arabia (+26.0%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +26.0% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. Saudi Arabia (+5.8 p.p.) significantly strengthened its position in terms of the total imports, while Turkey and the United Arab Emirates saw its share reduced by -1.7% and -1.8% from 2012 to 2022, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported button blanks & button moulds in the Middle East, comprising 85% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at -1.0%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+5.0% per year) and Saudi Arabia (-3.1% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, increasing by 5.5% against the previous year. In general, the import price, however, continues to indicate a deep contraction. The growth pace was the most rapid in 2015 when the import price increased by 7.1%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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