GCC: Vulcanised Rubber Erases Market 2024

Vulcanised Rubber Erases Market Size in GCC

In 2021, after two years of decline, there was significant growth in the GCC vulcanised rubber erases market, when its value increased by 6.4% to $X. In general, consumption, however, showed a abrupt shrinkage. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Vulcanised Rubber Erases Production in GCC

In value terms, vulcanised rubber erases production contracted to $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +15.4% against 2018 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 62% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Vulcanised Rubber Erases Exports

Exports in GCC

In 2021, shipments abroad of erasers of vulcanised rubber was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2014 with an increase of 104% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, vulcanised rubber erases exports dropped to $X in 2021. In general, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 122%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, recording X tons, which was approx. 95% of total exports in 2021. The following exporters - Saudi Arabia (X kg) and Kuwait (X kg) - together made up 4.6% of total exports.

From 2012 to 2021, average annual rates of growth with regard to vulcanised rubber erases exports from the United Arab Emirates stood at -6.1%. At the same time, Saudi Arabia (+18.5%) and Kuwait (+9.7%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +18.5% from 2012-2021. Saudi Arabia (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -2.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest vulcanised rubber erases supplier in GCC, comprising 93% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 4.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled -9.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+39.2% per year) and Kuwait (+24.3% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, which is down by -11.7% against the previous year. Overall, the export price continues to indicate a perceptible setback. The pace of growth appeared the most rapid in 2020 when the export price increased by 92%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+17.5%), while the other leaders experienced mixed trends in the export price figures.

Vulcanised Rubber Erases Imports

Imports in GCC

In 2021, after two years of decline, there was significant growth in supplies from abroad of erasers of vulcanised rubber, when their volume increased by 9.8% to X tons. Over the period under review, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 11%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, vulcanised rubber erases imports rose notably to $X in 2021. Overall, imports, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2018 with an increase of 24% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates prevails in imports structure, reaching X tons, which was approx. 91% of total imports in 2021. Kuwait (X tons) and Oman (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the erasers of vulcanised rubber imports, with a CAGR of -2.6% from 2012 to 2021. Oman (-11.5%) and Kuwait (-14.9%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+41 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Kuwait (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported erasers of vulcanised rubber in GCC, comprising 87% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 6.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled +2.1%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (-8.0% per year) and Oman (-5.3% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, which is down by -3.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. The pace of growth appeared the most rapid in 2015 an increase of 19%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+8.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform