GCC: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in GCC

In 2022, after four years of decline, there was significant growth in the GCC extruded solid rubber rod market, when its value increased by 42% to $X. Over the period under review, consumption, however, saw a perceptible slump. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Extruded Solid Rubber Rods And Profiles in GCC

In value terms, extruded solid rubber rod production stood at $X in 2022 estimated in export price. Overall, production, however, saw a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 117%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Extruded Solid Rubber Rods And Profiles

Exports in GCC

In 2022, approx. X tons of extruded solid rubber rods and profiles were exported in GCC; dropping by -21.5% on 2021 figures. In general, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 78% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, extruded solid rubber rod exports shrank dramatically to $X in 2022. Over the period under review, exports continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 when exports increased by 93% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the major exporting country with an export of about X tons, which resulted at 63% of total exports. It was distantly followed by Saudi Arabia (X tons), comprising a 34% share of total exports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +28.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X) remains the largest extruded solid rubber rod supplier in GCC, comprising 70% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled -7.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+5.0% per year) and Oman (+29.6% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, declining by -2.6% against the previous year. Overall, the export price, however, recorded a temperate expansion. The pace of growth appeared the most rapid in 2017 an increase of 93% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Extruded Solid Rubber Rods And Profiles

Imports in GCC

In 2022, extruded solid rubber rod imports in GCC declined modestly to X tons, with a decrease of -3.2% against the previous year. Overall, imports continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2017 when imports increased by 38% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, extruded solid rubber rod imports fell to $X in 2022. In general, imports saw a perceptible decrease. The pace of growth was the most pronounced in 2017 when imports increased by 43% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of extruded solid rubber rod imports in 2022 were the United Arab Emirates (X tons), Saudi Arabia (X tons), Bahrain (X tons) and Oman (X tons), together reaching 93% of total import. Qatar (X tons) and Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +10.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported extruded solid rubber rods and profiles in GCC, comprising 52% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 25% share of total imports. It was followed by Oman, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (-9.1% per year) and Oman (+8.8% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, falling by -7.1% against the previous year. Import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, extruded solid rubber rod import price decreased by -13.2% against 2020 indices. The growth pace was the most rapid in 2019 an increase of 20%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform