GCC: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in GCC

In 2021, the GCC pharmaceutical rubber articles market decreased by -12.4% to $X for the first time since 2015, thus ending a five-year rising trend. Overall, consumption, however, posted a prominent increase. The level of consumption peaked at $X in 2020, and then reduced in the following year.

Pharmaceutical Rubber Articles Production in GCC

In value terms, pharmaceutical rubber articles production declined to $X in 2021 estimated in export price. Over the period under review, production, however, saw buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 82% against the previous year. The level of production peaked at $X in 2020, and then dropped in the following year.

Pharmaceutical Rubber Articles Exports

Exports in GCC

In 2021, approx. X units of hygienic or pharmaceutical articles of rubber were exported in GCC; which is down by -52.7% on the year before. In general, exports, however, posted slight growth. The most prominent rate of growth was recorded in 2017 when exports increased by 377%. The volume of export peaked at X units in 2020, and then dropped sharply in the following year.

In value terms, pharmaceutical rubber articles exports fell dramatically to $X in 2021. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 665%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the largest exporting country with an export of around X units, which accounted for 80% of total exports. It was distantly followed by Oman (X units), achieving an 18% share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of hygienic or pharmaceutical articles of rubber. At the same time, Oman (+51.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +51.7% from 2012-2021. Oman (+18 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -17.9% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) remains the largest pharmaceutical rubber articles supplier in GCC, comprising 84% of total exports. The second position in the ranking was held by Oman ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +18.6%.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per unit, surging by 5.8% against the previous year. In general, the export price continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2013 when the export price increased by 137% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Oman amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+19.6%).

Pharmaceutical Rubber Articles Imports

Imports in GCC

For the third consecutive year, GCC recorded growth in overseas purchases of hygienic or pharmaceutical articles of rubber, which increased by 2.6% to X units in 2021. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.1% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of 32%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, pharmaceutical rubber articles imports totaled $X in 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 30% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the largest importer of hygienic or pharmaceutical articles of rubber in GCC, with the volume of imports amounting to X units, which was approx. 51% of total imports in 2021. Qatar (X units) took a 28% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (9.4%) and Oman (7.5%). Bahrain (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Oman (with a CAGR of +10.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Oman ($X) were the countries with the highest levels of imports in 2021, together accounting for 56% of total imports. Qatar and Bahrain lagged somewhat behind, together comprising a further 16%.

Among the main importing countries, Bahrain, with a CAGR of +20.4%, recorded the highest rates of growth with regard to 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

In 2021, the import price in GCC amounted to $X per unit, remaining constant against the previous year. In general, the import price, however, continues to indicate a pronounced downturn. The growth pace was the most rapid in 2015 when the import price increased by 45% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Kuwait ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+11.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform