Middle East: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in the Middle East

In 2022, after two years of growth, there was significant decline in the Middle Eastern non-electric industrial furnace market, when its value decreased by -21.5% to $X. Overall, consumption, however, posted a remarkable increase. As a result, consumption attained the peak level of $X, and then fell notably in the following year.

Non-Electric Industrial Furnace Production in the Middle East

In value terms, non-electric industrial furnace production fell to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +14.5% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 53%. Over the period under review, production reached the maximum level at $X in 2021, and then declined in the following year.

Non-Electric Industrial Furnace Exports

Exports in the Middle East

In 2022, overseas shipments of non-electric industrial or laboratory furnaces and ovens increased by 2% to X units, rising for the second year in a row after three years of decline. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 104%. 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, non-electric industrial furnace exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a slight expansion. The growth pace was the most rapid in 2013 with an increase of 100%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Turkey (X units) was the key exporter of non-electric industrial or laboratory furnaces and ovens, mixing up 61% of total exports. The United Arab Emirates (X units) took the second position in the ranking, distantly followed by Israel (X units). All these countries together held near 36% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Israel (with a CAGR of +5.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Turkey ($X) remains the largest non-electric industrial furnace supplier in the Middle East, comprising 70% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +4.6%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-5.0% per year) and Israel (+5.4% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, with an increase of 17% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the export price increased by 77% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per unit), while the United Arab Emirates ($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 (+1.2%), while the other leaders experienced mixed trends in the export price figures.

Non-Electric Industrial Furnace Imports

Imports in the Middle East

In 2022, supplies from abroad of non-electric industrial or laboratory furnaces and ovens increased by 25% to X units, rising for the third consecutive year after three years of decline. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.0% 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 +84.7% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 108%. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, non-electric industrial furnace imports surged to $X in 2022. Overall, imports, however, continue to indicate a noticeable downturn. The pace of growth was the most pronounced in 2016 with an increase of 54%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X units) was the main importer of non-electric industrial or laboratory furnaces and ovens, constituting 49% of total imports. Iran (X units) held a 23% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (17%). The following importers - Oman (X units), Iraq (X units) and Kuwait (X units) - together made up 7.9% of total imports.

Imports into Turkey increased at an average annual rate of +5.8% from 2012 to 2022. At the same time, the United Arab Emirates (+21.8%), Kuwait (+18.7%), Iraq (+8.1%) and Oman (+4.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +21.8% from 2012-2022. By contrast, Iran (-1.5%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+14 p.p.) and Turkey (+7.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Iran (-17.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported non-electric industrial or laboratory furnaces and ovens in the Middle East, comprising 40% of total imports. The second position in the ranking was held by Iran ($X), with a 15% share of total imports. It was followed by the United Arab Emirates, with an 8.9% share.

In Turkey, non-electric industrial furnace imports expanded at an average annual rate of +5.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Iran (-9.3% per year) and the United Arab Emirates (+7.2% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, with a decrease of -5.4% against the previous year. In general, the import price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 an increase of 17%. Over the period under review, import prices attained the peak figure at $X per unit 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 Iraq ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+2.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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