Middle East: Fats Preparation Machinery Market 2024

Fats Preparation Machinery Market Size in the Middle East

In 2022, after three years of decline, there was significant growth in the Middle Eastern fats preparation machinery market, when its value increased by 34% to $X. In general, consumption recorded moderate growth. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Fats Preparation Machinery Production in the Middle East

In value terms, fats preparation machinery production reduced to $X in 2022 estimated in export price. Over the period under review, production recorded buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 188%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Fats Preparation Machinery Exports

Exports in the Middle East

In 2022, approx. X units of machinery for the extraction or preparation of animal or fixed vegetable fats or oils were exported in the Middle East; surging by 8.4% against 2021. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 229%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, fats preparation machinery exports reduced to $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% 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 +73.0% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 67% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced in the following year.

Exports by Country

Turkey was the main exporter of machinery for the extraction or preparation of animal or fixed vegetable fats or oils in the Middle East, with the volume of exports reaching X units, which was approx. 77% of total exports in 2022. The United Arab Emirates (X units) took an 11% share (based on physical terms) of total exports, which put it in second place, followed by Jordan (9.7%).

Turkey experienced a relatively flat trend pattern with regard to volume of exports of machinery for the extraction or preparation of animal or fixed vegetable fats or oils. At the same time, Jordan (+33.9%) and the United Arab Emirates (+19.0%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +33.9% from 2012-2022. From 2012 to 2022, the share of Jordan and the United Arab Emirates increased by +9.2 and +8.7 percentage points, respectively.

In value terms, Turkey ($X) remains the largest fats preparation machinery supplier in the Middle East, comprising 82% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to +1.6%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+6.1% per year) and Jordan (+20.8% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, with a decrease of -16.9% against the previous year. Export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fats preparation machinery export price increased by +150.4% against 2017 indices. The pace of growth was the most pronounced in 2018 an increase of 132%. Over the period under review, the export prices reached the maximum at $X per unit in 2021, and then dropped remarkably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Jordan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.8%), while the other leaders experienced a decline in the export price figures.

Fats Preparation Machinery Imports

Imports in the Middle East

In 2022, approx. X units of machinery for the extraction or preparation of animal or fixed vegetable fats or oils were imported in the Middle East; increasing by 13% against the previous year's figure. Over the period under review, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 85%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, fats preparation machinery imports rose modestly to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 65% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the major importing country with an import of around X units, which recorded 56% of total imports. It was distantly followed by Turkey (X units), Iran (X units) and Iraq (X units), together mixing up a 32% share of total imports. The following importers - Oman (X units), Syrian Arab Republic (X units) and Palestine (X units) - together made up 7.1% of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +27.4% from 2012 to 2022. At the same time, Iraq (+31.2%), Palestine (+27.8%), Syrian Arab Republic (+25.2%), Iran (+15.7%) and Oman (+12.3%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +31.2% from 2012-2022. By contrast, Turkey (-7.3%) illustrated a downward trend over the same period. The United Arab Emirates (+45 p.p.), Iran (+5.7 p.p.), Iraq (+4.9 p.p.) and Syrian Arab Republic (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Turkey saw its share reduced by -55.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fats preparation machinery importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Iran ($X), with a combined 78% share of total imports. Syrian Arab Republic, Iraq, Oman and Palestine lagged somewhat behind, together comprising a further 15%.

Syrian Arab Republic, with a CAGR of +35.9%, recorded the highest growth rate of the value of imports, among 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

In 2022, the import price in the Middle East amounted to $X per unit, waning by -9.9% against the previous year. In general, the import price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when the import price increased by 52% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Syrian Arab Republic ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+8.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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