GCC: Non-Reinforced Rubber Tubing Market 2024

Non-Reinforced Rubber Tubing Market Size in GCC

In 2021, the GCC non-reinforced rubber tubing market decreased by -59.9% to $X for the first time since 2015, thus ending a five-year rising trend. Over the period under review, consumption recorded a pronounced slump. The level of consumption peaked at $X in 2020, and then fell dramatically in the following year.

Non-Reinforced Rubber Tubing Production in GCC

In value terms, non-reinforced rubber tubing production declined markedly to $X in 2021 estimated in export price. In general, production, however, showed a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 297%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Non-Reinforced Rubber Tubing Exports

Exports in GCC

For the fourth year in a row, GCC recorded decline in shipments abroad of rubber tubing not reinforced, which decreased by -1.3% to X tons in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 71%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, non-reinforced rubber tubing exports expanded significantly to $X in 2021. Over the period under review, exports, however, saw a tangible increase. The pace of growth was the most pronounced in 2014 when exports increased by 84%. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X tons, which was approx. 93% of total exports in 2021. Saudi Arabia (X tons) and Bahrain (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to non-reinforced rubber tubing exports from the United Arab Emirates stood at +1.8%. At the same time, Bahrain (+10.0%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of +10.0% from 2012-2021. By contrast, Saudi Arabia (-13.4%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+13 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-11.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest non-reinforced rubber tubing supplier in GCC, comprising 93% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 4.3% share of total exports.

In the United Arab Emirates, non-reinforced rubber tubing exports increased at an average annual rate of +4.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (+14.9% per year) and Saudi Arabia (-15.4% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, picking up by 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2019 when the export price increased by 18%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Non-Reinforced Rubber Tubing Imports

Imports in GCC

In 2021, overseas purchases of rubber tubing not reinforced decreased by -61.7% to X tons, falling for the second year in a row after two years of growth. In general, imports saw a abrupt downturn. The pace of growth was the most pronounced in 2019 when imports increased by 62% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, non-reinforced rubber tubing imports fell rapidly to $X in 2021. Over the period under review, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 when imports increased by 34%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons), Oman (X tons) and Qatar (X tons) was the key importer of rubber tubing not reinforced in GCC, comprising 91% of total import. It was distantly followed by Bahrain (X tons), making up a 5% share of total imports. Kuwait (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Qatar (with a CAGR of +17.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported rubber tubing not reinforced in GCC, comprising 47% of total imports. The second position in the ranking was taken by Oman ($X), with a 23% share of total imports. It was followed by Qatar, with a 17% share.

In the United Arab Emirates, non-reinforced rubber tubing imports expanded at an average annual rate of +1.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Oman (-0.4% per year) and Qatar (+10.5% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, rising by 7.9% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 26%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the import prices failed to regain momentum.

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 ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform