MENA: Market for Iron Or Steel Solid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Solid Fuel Domestic Appliances in MENA

The MENA's metal solid fuel appliances market was finally on the rise to reach $X in 2022, after three years of decline. The total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. 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.

Production of Iron Or Steel Solid Fuel Domestic Appliances in MENA

In value terms, metal solid fuel appliances production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a slight setback. The pace of growth appeared the most rapid in 2018 with an increase of 18%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Iron Or Steel Solid Fuel Domestic Appliances

Exports in MENA

In 2022, approx. X units of iron or steel solid fuel domestic appliances were exported in MENA; with an increase of 59% compared with the previous year. In general, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 212% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, metal solid fuel appliances exports skyrocketed to $X in 2022. Over the period under review, exports recorded strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Turkey (X units) represented the largest exporter of iron or steel solid fuel domestic appliances in MENA, comprising 98% of total export.

Turkey was also the fastest-growing in terms of the iron or steel solid fuel domestic appliances exports, with a CAGR of +11.3% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest metal solid fuel appliances supplier in MENA.

In Turkey, metal solid fuel appliances exports increased at an average annual rate of +6.4% over the period from 2012-2022.

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, increasing by 19% against the previous year. Over the period under review, the export price, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2019 an increase of 43% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to -4.4% per year.

Imports of Iron Or Steel Solid Fuel Domestic Appliances

Imports in MENA

In 2022, the amount of iron or steel solid fuel domestic appliances imported in MENA soared to X units, picking up by 16% compared with the previous year. Over the period under review, imports recorded a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 48% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, metal solid fuel appliances imports contracted to $X in 2022. Total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +23.9% against 2018 indices. The pace of growth appeared the most rapid in 2014 with an increase of 70% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Iran (X units), distantly followed by Syrian Arab Republic (X units), Israel (X units), Morocco (X units), Kuwait (X units) and the United Arab Emirates (X units) were the major importers of iron or steel solid fuel domestic appliances, together constituting 81% of total imports. The following importers - Lebanon (X units) and Iraq (X units) - each recorded a 6.8% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Morocco (with a CAGR of +46.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), the United Arab Emirates ($X) and Lebanon ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 48% share of total imports. Morocco, Iran, Kuwait, Syrian Arab Republic and Iraq lagged somewhat behind, together comprising a further 30%.

Among the main importing countries, Morocco, with a CAGR of +18.8%, saw the highest growth rate of the value of imports, 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 MENA stood at $X per unit in 2022, declining by -25.5% against the previous year. In general, the import price recorded a abrupt setback. The pace of growth was the most pronounced in 2021 an increase of 49% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Lebanon ($X per unit), while Syrian Arab Republic ($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 (+2.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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