Middle East: Polishes For Coachwork Market 2024

Polishes For Coachwork Market Size in the Middle East

The Middle Eastern polishes for coachwork market shrank notably to $X in 2022, waning by -17.4% against the previous year. Over the period under review, consumption continues to indicate a slight reduction. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Polishes For Coachwork Production in the Middle East

In value terms, polishes for coachwork production declined to $X in 2022 estimated in export price. Overall, production posted notable growth. The pace of growth appeared the most rapid in 2019 with an increase of 87%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Polishes For Coachwork Exports

Exports in the Middle East

In 2022, after three years of growth, there was significant decline in shipments abroad of polishes for coachwork, when their volume decreased by -7.2% to X tons. Total exports indicated a slight expansion from 2012 to 2022: its volume 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 +55.7% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of 19% against the previous year. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, polishes for coachwork exports fell markedly to $X in 2022. Over the period under review, exports, however, saw resilient growth. The growth pace was the most rapid in 2019 when exports increased by 45% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then declined markedly in the following year.

Exports by Country

Turkey prevails in exports structure, resulting at X tons, which was near 91% of total exports in 2022. The United Arab Emirates (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +1.7% from 2012 to 2022. At the same time, Saudi Arabia (+7.9%) and the United Arab Emirates (+1.4%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +7.9% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest polishes for coachwork supplier in the Middle East, comprising 92% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 4.5% share of total exports.

In Turkey, polishes for coachwork exports increased at an average annual rate of +8.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+10.2% per year) and Saudi Arabia (+9.2% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, shrinking by -9% against the previous year. Over the period under review, the export price, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 an increase of 33% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, 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 (+8.7%), while the other leaders experienced more modest paces of growth.

Polishes For Coachwork Imports

Imports in the Middle East

In 2022, imports of polishes for coachwork in the Middle East dropped sharply to X tons, with a decrease of -28.7% against the year before. Over the period under review, imports recorded a perceptible decline. The most prominent rate of growth was recorded in 2019 with an increase of 34% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, polishes for coachwork imports declined rapidly to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 32% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped notably in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons), Iraq (X tons) and Turkey (X tons) represented the largest importer of polishes for coachwork in the Middle East, constituting 79% of total import. Israel (X tons), Oman (X tons), Kuwait (X tons), Bahrain (X tons) and Iran (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Israel (with a CAGR of +9.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polishes for coachwork importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Iraq ($X), with a combined 77% share of total imports. Israel, Oman, Kuwait, Iran and Bahrain lagged somewhat behind, together accounting for a further 18%.

Israel, with a CAGR of +12.6%, recorded the highest rates of growth with regard to 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 ton, picking up by 5.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2013 when the import price increased by 11%. Over the period under review, import prices attained the peak figure in 2022 and is likely to continue growth in the near future.

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 Israel ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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