Middle East's Chandeliers Market to Expand at +0.6% CAGR by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: Middle East - Chandeliers - Market Analysis, Forecast, Size, Trends and Insights.

The chandelier market in the Middle East is expected to experience a continuous rise in demand in the coming years. Projections suggest a steady increase in market volume to 384K tons and market value to $4.4B by the end of 2035, driven by a CAGR of +0.6% and +1.9% respectively.

Driven by increasing demand for chandeliers in the Middle East, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.6% for the period from 2024 to 2035, which is projected to bring the market volume to 384K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.9% for the period from 2024 to 2035, which is projected to bring the market value to $4.4B (in nominal wholesale prices) by the end of 2035.

In 2024, chandelier consumption in the Middle East expanded remarkably to 358K tons, increasing by 5.9% on 2023 figures. In general, consumption showed moderate growth. Over the period under review, consumption reached the peak volume at 768K tons in 2019; however, from 2020 to 2024, consumption remained at a lower figure.

The value of the chandelier market in the Middle East expanded notably to $3.6B in 2024, with an increase of 5.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded noticeable growth. The level of consumption peaked at $7.6B in 2019; however, from 2020 to 2024, consumption failed to regain momentum.

The country with the largest volume of chandelier consumption was Turkey (206K tons), comprising approx. 57% of total volume. Moreover, chandelier consumption in Turkey exceeded the figures recorded by the second-largest consumer, Iran (63K tons), threefold. Saudi Arabia (22K tons) ranked third in terms of total consumption with a 6.2% share.

In Turkey, chandelier consumption expanded at an average annual rate of +8.5% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of consumption growth: Iran (+1.2% per year) and Saudi Arabia (-0.5% per year).

In value terms, Turkey ($2.3B) led the market, alone. The second position in the ranking was taken by Iran ($325M). It was followed by the United Arab Emirates.

In Turkey, the chandelier market increased at an average annual rate of +8.3% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Iran (-2.6% per year) and the United Arab Emirates (+0.9% per year).

The countries with the highest levels of chandelier per capita consumption in 2024 were Turkey (2.4 kg per person), the United Arab Emirates (1.9 kg per person) and Syrian Arab Republic (0.7 kg per person).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Iraq (with a CAGR of +8.0%), while consumption for the other leaders experienced mixed trends in the per capita consumption figures.

In 2024, approx. 290K tons of chandeliers were produced in the Middle East; increasing by 2% compared with 2023 figures. In general, production saw a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of 61% against the previous year. The volume of production peaked at 691K tons in 2019; however, from 2020 to 2024, production stood at a somewhat lower figure.

In value terms, chandelier production totaled $2.8B in 2024 estimated in export price. Overall, production continues to indicate buoyant growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 71%. Over the period under review, production hit record highs at $6.8B in 2019; however, from 2020 to 2024, production failed to regain momentum.

The country with the largest volume of chandelier production was Turkey (210K tons), accounting for 72% of total volume. Moreover, chandelier production in Turkey exceeded the figures recorded by the second-largest producer, Iran (62K tons), threefold.

From 2013 to 2024, the average annual rate of growth in terms of volume in Turkey amounted to +9.0%. In the other countries, the average annual rates were as follows: Iran (+1.1% per year) and Syrian Arab Republic (-2.2% per year).

Chandelier imports soared to 79K tons in 2024, rising by 20% on the previous year. Overall, imports, however, continue to indicate a mild downturn. The volume of import peaked at 117K tons in 2017; however, from 2018 to 2024, imports remained at a lower figure.

In value terms, chandelier imports contracted modestly to $1B in 2024. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 24% against the previous year. As a result, imports attained the peak of $1.3B. From 2015 to 2024, the growth of imports remained at a lower figure.

In 2024, Saudi Arabia (23K tons) and the United Arab Emirates (22K tons) were the main importers of chandeliers in the Middle East, together making up 56% of total imports. Iraq (12K tons) took the next position in the ranking, distantly followed by Israel (4.7K tons), Qatar (4.3K tons) and Turkey (4K tons). All these countries together took approx. 32% share of total imports. Jordan (2.9K tons) held a little share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iraq (with a CAGR of +10.9%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest chandelier importing markets in the Middle East were the United Arab Emirates ($329M), Saudi Arabia ($195M) and Iraq ($154M), with a combined 66% share of total imports.

Iraq, with a CAGR of +16.0%, 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.

The import price in the Middle East stood at $13,046 per ton in 2024, reducing by -19.4% against the previous year. Import price indicated a modest increase from 2013 to 2024: its price increased at an average annual rate of +1.3% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, chandelier import price increased by +36.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 25%. The level of import peaked at $16,192 per ton in 2023, and then fell remarkably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Israel ($24,472 per ton), while Saudi Arabia ($8,504 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Jordan (+9.6%), while the other leaders experienced more modest paces of growth.

In 2024, chandelier exports in the Middle East dropped to 11K tons, waning by -7.6% compared with the year before. Over the period under review, exports saw a abrupt descent. The pace of growth was the most pronounced in 2017 when exports increased by 13% against the previous year. The volume of export peaked at 20K tons in 2013; however, from 2014 to 2024, the exports failed to regain momentum.

In value terms, chandelier exports contracted to $135M in 2024. Overall, exports saw a pronounced decline. The pace of growth appeared the most rapid in 2021 when exports increased by 19% against the previous year. The level of export peaked at $181M in 2013; however, from 2014 to 2024, the exports failed to regain momentum.

In 2024, Turkey (7.9K tons) was the major exporter of chandeliers, mixing up 72% of total exports. The United Arab Emirates (1.7K tons) took the second position in the ranking, distantly followed by Saudi Arabia (839 tons). All these countries together took approx. 23% share of total exports.

From 2013 to 2024, average annual rates of growth with regard to chandelier exports from Turkey stood at -4.3%. At the same time, Saudi Arabia (+9.9%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +9.9% from 2013-2024. By contrast, the United Arab Emirates (-11.0%) illustrated a downward trend over the same period. From 2013 to 2024, the share of Turkey and Saudi Arabia increased by +8.7 and +6.2 percentage points, respectively.

In value terms, Turkey ($102M) remains the largest chandelier supplier in the Middle East, comprising 75% of total exports. The second position in the ranking was held by the United Arab Emirates ($13M), with a 9.5% share of total exports.

From 2013 to 2024, the average annual rate of growth in terms of value in Turkey totaled -3.1%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-5.5% per year) and Saudi Arabia (+15.0% per year).

The export price in the Middle East stood at $12,369 per ton in 2024, with a decrease of -5.3% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2023 an increase of 19% against the previous year. As a result, the export price reached the peak level of $13,061 per ton, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($12,839 per ton), while the United Arab Emirates ($7,642 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the chandelier market in the Middle East. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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