GCC: Prepared Rubber Accelerators Market 2024

Prepared Rubber Accelerators Market Size in GCC

After two years of decline, the GCC prepared rubber accelerators market increased by 26% to $X in 2021. Over the period under review, consumption enjoyed a strong increase. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Prepared Rubber Accelerators Production in GCC

In value terms, prepared rubber accelerators production amounted to $X in 2021 estimated in export price. In general, production enjoyed a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 65%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Prepared Rubber Accelerators Exports

Exports in GCC

In 2021, shipments abroad of prepared rubber accelerators decreased by -51.1% to X tons, falling for the second consecutive year after three years of growth. In general, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 206% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, prepared rubber accelerators exports contracted notably to $X in 2021. Over the period under review, exports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of 205%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia represented the largest exporter of prepared rubber accelerators in GCC, with the volume of exports resulting at X tons, which was near 61% of total exports in 2021. Bahrain (X tons) ranks second in terms of the total exports with a 31% share, followed by the United Arab Emirates (8%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Bahrain (with a CAGR of +50.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest prepared rubber accelerators supplying countries in GCC were Bahrain ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), with a combined 100% share of total exports.

Among the main exporting countries, Bahrain, with a CAGR of +48.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, reducing by -11.6% against the previous year. Over the period under review, the export price showed a slight setback. The pace of growth appeared the most rapid in 2015 when the export price increased by 104% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.8%), while the other leaders experienced a decline in the export price figures.

Prepared Rubber Accelerators Imports

Imports in GCC

In 2021, after two years of decline, there was significant growth in purchases abroad of prepared rubber accelerators, when their volume increased by 59% to X tons. Over the period under review, imports posted a prominent increase. The growth pace was the most rapid in 2017 when imports increased by 512% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, prepared rubber accelerators imports soared to $X in 2021. Overall, imports showed significant growth. The growth pace was the most rapid in 2017 when imports increased by 544%. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Imports by Country

Saudi Arabia was the largest importer of prepared rubber accelerators in GCC, with the volume of imports accounting for X tons, which was approx. 72% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), mixing up a 23% share of total imports. The following importers - Oman (X tons) and Kuwait (X tons) - together made up 4.6% of total imports.

Saudi Arabia was also the fastest-growing in terms of the prepared rubber accelerators imports, with a CAGR of +23.7% from 2012 to 2021. At the same time, the United Arab Emirates (+20.2%) and Kuwait (+6.9%) displayed positive paces of growth. By contrast, Oman (-14.4%) illustrated a downward trend over the same period. Saudi Arabia (+33 p.p.) and the United Arab Emirates (+7 p.p.) significantly strengthened its position in terms of the total imports, while Kuwait and Oman saw its share reduced by -1.8% and -38.2% from 2012 to 2021, respectively.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported prepared rubber accelerators in GCC, comprising 80% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 18% share of total imports. It was followed by Oman, with a 1.4% share.

In Saudi Arabia, prepared rubber accelerators imports increased at an average annual rate of +27.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+19.1% per year) and Oman (-12.7% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, with an increase of 30% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($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 (+3.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform