GCC: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in GCC

The GCC reclaimed rubber market rose significantly to $X in 2021, growing by 12% against the previous year. Overall, consumption showed a strong expansion. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in years to come.

Reclaimed Rubber Production in GCC

In value terms, reclaimed rubber production totaled $X in 2021 estimated in export price. In general, production enjoyed strong growth. The pace of growth was the most pronounced in 2019 with an increase of 96%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Reclaimed Rubber Exports

Exports in GCC

In 2021, approx. X tons of reclaimed rubber were exported in GCC; picking up by 15% against the year before. Over the period under review, exports showed a strong expansion. The growth pace was the most rapid in 2017 with an increase of 173%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, reclaimed rubber exports surged to $X in 2021. In general, exports posted a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 100%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

Exports by Country

Qatar (X tons) and Saudi Arabia (X tons) represented the major exporters of reclaimed rubber in 2021, amounting to near 39% and 32% of total exports, respectively. The United Arab Emirates (X tons) held the next position in the ranking, followed by Oman (X tons). All these countries together held near 29% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Oman (with a CAGR of +797.8%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X) were the countries with the highest levels of exports in 2021, with a combined 82% share of total exports.

Qatar, with a CAGR of +143.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, growing by 23% against the previous year. Overall, the export price, however, saw a deep downturn. The pace of growth appeared the most rapid in 2020 an increase of 50% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, 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 the United Arab Emirates ($X per ton), while Qatar ($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 (+4.9%), while the other leaders experienced a decline in the export price figures.

Reclaimed Rubber Imports

Imports in GCC

In 2021, after two years of decline, there was significant growth in supplies from abroad of reclaimed rubber, when their volume increased by 18% to X tons. In general, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2017 when imports increased by 30% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, reclaimed rubber imports surged to $X in 2021. Over the period under review, imports saw a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates represented the major importer of reclaimed rubber in GCC, with the volume of imports reaching X tons, which was approx. 82% of total imports in 2021. It was distantly followed by Qatar (X tons) and Oman (X tons), together creating a 16% share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +11.9% from 2012 to 2021. At the same time, Oman (+27.0%) and Qatar (+7.4%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +27.0% from 2012-2021. The United Arab Emirates (+18 p.p.) and Oman (+4.2 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported reclaimed rubber in GCC, comprising 71% of total imports. The second position in the ranking was taken by Qatar ($X), with a 22% share of total imports.

In the United Arab Emirates, reclaimed rubber imports expanded at an average annual rate of +13.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Qatar (+7.5% per year) and Oman (+27.4% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, surging by 26% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price attained 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 Qatar ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform