GCC: Market for Tubes, Pipes And Hoses Of Vulcanized Rubber 2024

Exports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Exports in GCC

In 2021, overseas shipments of tubes, pipes and hoses of vulcanized rubber increased by 2.4% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +3.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 69%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, rubber tube and pipe exports surged to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 84%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, finishing at X tons, which was approx. 89% of total exports in 2021. It was distantly followed by Oman (X tons), generating a 7.7% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of +5.8% from 2012 to 2021. At the same time, Oman (+34.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +34.0% from 2012-2021. By contrast, Saudi Arabia (-6.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates and Oman increased by +9.8 and +6.9 percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest rubber tube and pipe supplier in GCC, comprising 92% of total exports. The second position in the ranking was held by Oman ($X), with a 4.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to +7.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+26.8% per year) and Saudi Arabia (-1.6% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, growing by 30% against the previous year. In general, the export price recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($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 (+5.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Tubes, Pipes And Hoses Of Vulcanized Rubber

Imports in GCC

Rubber tube and pipe imports amounted to X tons in 2021, approximately mirroring 2020 figures. The total import volume increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when imports increased by 40% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, rubber tube and pipe imports expanded sharply to $X in 2021. The total import value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when imports increased by 18% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the key importer of tubes, pipes and hoses of vulcanized rubber, constituting 50% of total imports. Saudi Arabia (X tons) took a 29% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (7.3%), Oman (6.4%) and Kuwait (5.6%). Bahrain (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +8.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rubber tube and pipe importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), together accounting for 83% of total imports.

Oman, with a CAGR of +7.0%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, increasing by 12% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Kuwait ($X per ton) and Oman ($X per ton), while Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform