Middle East: Non-Electric Roasting Furnace Market 2024

Non-Electric Roasting Furnace Market Size in the Middle East

In 2022, the Middle Eastern non-electric roasting furnace market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption continues to indicate a resilient increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Non-Electric Roasting Furnace Production in the Middle East

In value terms, non-electric roasting furnace production shrank to $X in 2022 estimated in export price. Overall, production recorded a resilient expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 117%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Non-Electric Roasting Furnace Exports

Exports in the Middle East

In 2022, shipments abroad of non-electric furnaces and ovens for the roasting or melting increased by 62% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, showed a deep reduction. The growth pace was the most rapid in 2018 with an increase of 148%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-electric roasting furnace exports contracted to $X in 2022. In general, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 48%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Bahrain (X units) represented the main exporter of non-electric furnaces and ovens for the roasting or melting, constituting 70% of total exports. It was distantly followed by the United Arab Emirates (X units) and Turkey (X units), together creating a 25% share of total exports. The following exporters - Oman (X units) and Kuwait (X units) - together made up 4.2% of total exports.

Exports from Bahrain decreased at an average annual rate of -5.7% from 2012 to 2022. At the same time, Turkey (+2.2%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +2.2% from 2012-2022. By contrast, Oman (-1.2%), Kuwait (-6.2%) and the United Arab Emirates (-6.5%) illustrated a downward trend over the same period. Turkey (+4.5 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates and Bahrain saw its share reduced by -2.2% and -2.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest non-electric roasting furnace supplier in the Middle East, comprising 77% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 15% share of total exports. It was followed by Bahrain, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value in Turkey totaled +2.0%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-3.7% per year) and Bahrain (-31.6% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, with a decrease of -46.6% against the previous year. In general, the export price saw a abrupt downturn. The pace of growth appeared the most rapid in 2019 when the export price increased by 85% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2016; however, from 2017 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 ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+18.8%), while the other leaders experienced mixed trends in the export price figures.

Non-Electric Roasting Furnace Imports

Imports in the Middle East

After two years of decline, supplies from abroad of non-electric furnaces and ovens for the roasting or melting increased by 95% to X units in 2022. In general, imports showed prominent growth. The growth pace was the most rapid in 2018 with an increase of 1,346% against the previous year. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, non-electric roasting furnace imports soared to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +153.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 105%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

Bahrain was the largest importer of non-electric furnaces and ovens for the roasting or melting in the Middle East, with the volume of imports finishing at X units, which was approx. 57% of total imports in 2022. Turkey (X units) ranks second in terms of the total imports with a 24% share, followed by Qatar (7.4%) and the United Arab Emirates (5.2%). Oman (X units) and Iran (X units) followed a long way behind the leaders.

Bahrain was also the fastest-growing in terms of the non-electric furnaces and ovens for the roasting or melting imports, with a CAGR of +37.4% from 2012 to 2022. At the same time, Oman (+13.3%), Qatar (+7.1%), the United Arab Emirates (+5.8%) and Turkey (+2.9%) displayed positive paces of growth. By contrast, Iran (-6.3%) illustrated a downward trend over the same period. While the share of Bahrain (+50 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-3.4 p.p.), Qatar (-3.4 p.p.), Iran (-10.9 p.p.) and Turkey (-28.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported non-electric furnaces and ovens for the roasting or melting in the Middle East, comprising 64% of total imports. The second position in the ranking was taken by Iran ($X), with a 7.5% share of total imports. It was followed by the United Arab Emirates, with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +11.1%. The remaining importing countries recorded the following average annual rates of imports growth: Iran (-6.4% per year) and the United Arab Emirates (+1.4% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, with a decrease of -40.2% against the previous year. Overall, the import price saw a deep slump. The most prominent rate of growth was recorded in 2020 when the import price increased by 4,131% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 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 Iran ($X per unit), while Bahrain ($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 (+8.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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