GCC: Metal-Reinforced Rubber Hose Market 2024

Metal-Reinforced Rubber Hose Market Size in GCC

The GCC metal-reinforced rubber hose market expanded remarkably to $X in 2022, growing by 5.6% against the previous year. The market value increased at an average annual rate of +1.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Metal-Reinforced Rubber Hose Production in GCC

In value terms, metal-reinforced rubber hose production reached $X in 2022 estimated in export price. Over the period under review, production enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 234% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Metal-Reinforced Rubber Hose Exports

Exports in GCC

In 2022, metal-reinforced rubber hose exports in GCC contracted rapidly to X tons, shrinking by -22.1% on 2021. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 92%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, metal-reinforced rubber hose exports fell to $X in 2022. Overall, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 67%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the largest exporter of rubber hose reinforced with metal, making up 60% of total exports. It was distantly followed by Kuwait (X tons), committing a 38% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +89.9%).

In value terms, the United Arab Emirates ($X) remains the largest metal-reinforced rubber hose supplier in GCC, comprising 92% of total exports. The second position in the ranking was held by Kuwait ($X), with a 5.9% share of total exports.

In the United Arab Emirates, metal-reinforced rubber hose exports contracted by an average annual rate of -3.2% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, growing by 9.8% against the previous year. In general, the export price, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 an increase of 12% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a 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 Kuwait totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-5.4%).

Metal-Reinforced Rubber Hose Imports

Imports in GCC

In 2022, metal-reinforced rubber hose imports in GCC contracted to X tons, with a decrease of -1.6% on 2021. In general, imports saw a mild descent. The pace of growth was the most pronounced in 2019 with an increase of 42%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, metal-reinforced rubber hose imports declined modestly to $X in 2022. Overall, imports continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2019 with an increase of 30%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, accounting for X tons, which was near 87% of total imports in 2022. It was distantly followed by Kuwait (X tons), generating a 5.3% share of total imports. The following importers - Oman (X tons) and Qatar (X tons) - each amounted to a 6.8% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to metal-reinforced rubber hose imports into the United Arab Emirates stood at +1.5%. At the same time, Qatar (+12.0%), Kuwait (+3.7%) and Oman (+1.8%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +12.0% from 2012-2022. While the share of the United Arab Emirates (+25 p.p.), Qatar (+2.5 p.p.) and Kuwait (+2.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported rubber hose reinforced with metal in GCC, comprising 84% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 5.7% share of total imports. It was followed by Qatar, with a 5% share.

In the United Arab Emirates, metal-reinforced rubber hose imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (+1.2% per year) and Qatar (+12.0% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, stabilizing at the previous year. Overall, the import price, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2018 when the import price increased by 10% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, 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 Qatar ($X per ton), while the United Arab Emirates ($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 (-0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform