United Arab Emirates: Safes And Strongboxes Market 2024

Safes And Strongboxes Market Size in the United Arab Emirates

In 2021, the safes and strongboxes market in the United Arab Emirates increased by 106% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Safes And Strongboxes Exports

Exports from the United Arab Emirates

In 2021, shipments abroad of safes, strongboxes and doors of base metal decreased by -15.8% to X tons, falling for the third year in a row after three years of growth. Over the period under review, exports continue to indicate a pronounced setback. The most prominent rate of growth was recorded in 2016 with an increase of 36% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, safes and strongboxes exports fell significantly to $X in 2021. Overall, exports, however, posted buoyant growth. The growth pace was the most rapid in 2013 when exports increased by 69% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Oman (X tons) was the main destination for safes and strongboxes exports from the United Arab Emirates, accounting for a 45% share of total exports. Moreover, safes and strongboxes exports to Oman exceeded the volume sent to the second major destination, Egypt (X tons), fourfold. Burkina Faso (X tons) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman stood at +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+88.9% per year) and Burkina Faso (+40.0% per year).

In value terms, Oman ($X) remains the key foreign market for safes, strongboxes and doors of base metal exports from the United Arab Emirates, comprising 55% of total exports. The second position in the ranking was held by Egypt ($X), with a 19% share of total exports. It was followed by Seychelles, with a 3.3% share.

From 2012 to 2021, the average annual growth rate of value to Oman amounted to +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+99.3% per year) and Seychelles (+13.6% per year).

Export Prices by Country

The average safes and strongboxes export price stood at $X per ton in 2021, falling by -16.3% against the previous year. Overall, the export price, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 107% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Seychelles ($X per ton), while the average price for exports to Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Seychelles (+23.1%), while the prices for the other major destinations experienced more modest paces of growth.

Safes And Strongboxes Imports

Imports into the United Arab Emirates

In 2021, supplies from abroad of safes, strongboxes and doors of base metal was finally on the rise to reach X tons after three years of decline. Overall, imports saw a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, safes and strongboxes imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of safes and strongboxes imports to the United Arab Emirates, with a combined 64% share of total imports. Indonesia, Thailand, India, Taiwan (Chinese), Malaysia, Bulgaria and the United States lagged somewhat behind, together comprising a further 14%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +16.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of safes, strongboxes and doors of base metal to the United Arab Emirates, comprising 36% of total imports. The second position in the ranking was held by Vietnam ($X), with a 12% share of total imports. It was followed by South Korea, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+5.9% per year) and South Korea (-2.6% per year).

Import Prices by Country

In 2021, the average safes and strongboxes import price amounted to $X per ton, with an increase of 14% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.9%. The most prominent rate of growth was recorded in 2018 an increase of 17%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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