Middle East: Peat Market 2022

Peat Market Size in the Middle East

In 2021, the Middle Eastern peat market decreased by -X% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption saw a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Peat Production in the Middle East

In value terms, peat production dropped to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a mild curtailment. The growth pace was the most rapid in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Peat Exports

Exports in the Middle East

In 2021, shipments abroad of peat was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, peat exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Iran prevails in exports structure, reaching X tons, which was near X% of total exports in 2021. Turkey (X tons) followed a long way behind the leaders.

Exports from Iran increased at an average annual rate of +X% from 2012 to 2021. At the same time, Turkey (+X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +X% from 2012-2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Iran ($X) remains the largest peat supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Iran totaled +X%.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, dropping by -X% against the previous year. In general, the export price recorded a pronounced reduction. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Iran ($X per ton), while Turkey stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-X%).

Peat Imports

Imports in the Middle East

For the sixth consecutive year, the Middle East recorded growth in overseas purchases of peat, which increased by X% to X tons in 2021. The total import volume increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, peat imports surged to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Israel (X tons) and Turkey (X tons) represented the major importers of peat in 2021, resulting at near X% and X% of total imports, respectively. Saudi Arabia (X tons) ranks next in terms of the total imports with a X% share, followed by the United Arab Emirates (X%) and Qatar (X%). Kuwait (X tons), Oman (X tons), Iraq (X tons), Jordan (X tons), Bahrain (X tons), Lebanon (X tons), Iran (X tons) and Syrian Arab Republic (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were in Qatar (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), Turkey ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of imports in 2021, with a combined X% share of total imports. Qatar, the United Arab Emirates, Iraq, Oman, Jordan, Kuwait, Lebanon, Bahrain, Syrian Arab Republic and Iran lagged somewhat behind, together comprising a further X, with a CAGR of +X%, saw the highest growth rate of 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 2021, growing by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of destination: the country with the highest price was Qatar ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lebanon (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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