GCC: Market for Vulcanised Cellular Rubber Articles For Technical Uses 2024

Market Size for Vulcanised Cellular Rubber Articles For Technical Uses in GCC

The GCC vulcanised cellular rubber articles market declined to $X in 2021, with a decrease of -12% against the previous year. Over the period under review, consumption, however, continues to indicate a resilient expansion. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Production of Vulcanised Cellular Rubber Articles For Technical Uses in GCC

In value terms, vulcanised cellular rubber articles production dropped markedly to $X in 2021 estimated in export price. In general, production continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 129%. As a result, production attained the peak level of $X, and then declined markedly in the following year.

Exports of Vulcanised Cellular Rubber Articles For Technical Uses

Exports in GCC

Vulcanised cellular rubber articles exports soared to X tons in 2021, with an increase of 28% compared with the previous year's figure. Overall, exports recorded resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 72% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, vulcanised cellular rubber articles exports fell sharply to $X in 2021. Over the period under review, exports saw a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 160%. As a result, the exports attained the peak of $X, and then shrank sharply in the following year.

Exports by Country

The shipments of the one major exporters of vulcanised cellular rubber articles for technical uses, namely the United Arab Emirates, represented more than two-thirds of total export.

The United Arab Emirates was also the fastest-growing in terms of the vulcanised cellular rubber articles for technical uses exports, with a CAGR of +18.2% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest vulcanised cellular rubber articles supplier in GCC.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to +20.3%.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, declining by -45.7% against the previous year. In general, the export price, however, recorded a mild expansion. The pace of growth appeared the most rapid in 2020 when the export price increased by 64% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank rapidly in the following year.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to +1.8% per year.

Imports of Vulcanised Cellular Rubber Articles For Technical Uses

Imports in GCC

In 2021, the amount of vulcanised cellular rubber articles for technical uses imported in GCC declined to X tons, dropping by -4.3% on 2020. Over the period under review, imports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by 50%. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, vulcanised cellular rubber articles imports declined to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +47.2% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of 46% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

Saudi Arabia represented the major importing country with an import of around X tons, which resulted at 60% of total imports. The United Arab Emirates (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (8.6%), Oman (7.3%) and Kuwait (5.4%). Bahrain (X tons) followed a long way behind the leaders.

Imports into Saudi Arabia increased at an average annual rate of +15.6% from 2012 to 2021. At the same time, Bahrain (+19.9%), Oman (+16.1%), the United Arab Emirates (+6.6%), Kuwait (+4.8%) and Qatar (+4.1%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +19.9% from 2012-2021. While the share of Saudi Arabia (+16 p.p.), Oman (+2.1 p.p.) and Bahrain (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Kuwait (-4.2 p.p.), Qatar (-7.7 p.p.) and the United Arab Emirates (-7.9 p.p.) displayed negative dynamics.

In value terms, the largest vulcanised cellular rubber articles importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), together comprising 83% of total imports. Qatar, Oman and Bahrain lagged somewhat behind, together accounting for a further 17%.

Bahrain, with a CAGR of +14.3%, recorded the highest growth rate of 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

In 2021, the import price in GCC amounted to $X per ton, dropping by -8.6% against the previous year. Over the period under review, the import price saw a perceptible decrease. The pace of growth appeared the most rapid in 2019 an increase of 15%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform