GCC: Articles Of Peat Market 2024

Articles Of Peat Market Size in GCC

The GCC articles of peat market expanded notably to $X in 2023, picking up by X% against the previous year. In general, consumption showed a prominent expansion. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Articles Of Peat Production in GCC

In value terms, articles of peat production totaled $X in 2023 estimated in export price. Overall, production showed resilient growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Articles Of Peat Exports

Exports in GCC

Articles of peat exports fell dramatically to X tons in 2023, reducing by X% against the previous year's figure. Over the period under review, exports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then shrank notably in the following year.

In value terms, articles of peat exports reduced sharply to $X in 2023. Overall, exports, however, posted a noticeable expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, the United Arab Emirates (X tons) represented the major exporter of articles of peat, committing X% of total exports. It was distantly followed by Bahrain (X tons), generating a X% share of total exports. Kuwait (X kg) and Oman (X kg) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the articles of peat exports, with a CAGR of X% from 2012 to 2023. Bahrain experienced a relatively flat trend pattern. Kuwait (X%) and Oman (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Bahrain (X p.p.) significantly strengthened its position in terms of the total exports, while Kuwait and Oman saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, the United Arab Emirates ($X) remains the largest articles of peat supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Kuwait ($X), with a X% share of total exports. It was followed by Bahrain, with a X% share.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates totaled X%. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Bahrain (X% per year).

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, picking up by X% against the previous year. Overall, the export price posted a tangible increase. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Articles Of Peat Imports

Imports in GCC

In 2023, the amount of articles of peat imported in GCC fell to X tons, which is down by X% against the previous year's figure. In general, imports continue to indicate a deep setback. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, articles of peat imports contracted sharply to $X in 2023. Overall, imports recorded a abrupt decline. The growth pace was the most rapid in 2014 when imports increased by X%. As a result, imports attained the peak of $X. From 2015 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Qatar (X tons) and Oman (X tons) were the main importers of articles of peat in 2023, accounting for near X% and X% of total imports, respectively. Kuwait (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (X%) and Bahrain (X%).

From 2012 to 2023, the biggest increases were recorded for Kuwait (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest articles of peat importing markets in GCC were Qatar ($X), Oman ($X) and Kuwait ($X), with a combined X% share of total imports.

Kuwait, 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 a decline in the imports figures.

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, waning by X% against the previous year. Import price indicated temperate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, articles of peat import price decreased by X% against 2021 indices. The growth pace was the most rapid in 2016 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2023, the import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform