GCC: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in GCC

In 2021, the GCC vulcanised rubber thread market was finally on the rise to reach $X after two years of decline. The total consumption indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Vulcanised Rubber Thread Production in GCC

In value terms, vulcanised rubber thread production expanded to $X in 2021 estimated in export price. The total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -32.8% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 66% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Vulcanised Rubber Thread Exports

Exports in GCC

In 2021, the amount of vulcanised rubber thread and cord exported in GCC dropped modestly to X tons, stabilizing at the previous year. In general, exports saw a noticeable contraction. The most prominent rate of growth was recorded in 2018 with an increase of 390% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, vulcanised rubber thread exports stood at $X in 2021. Overall, exports saw a slight downturn. The growth pace was the most rapid in 2018 with an increase of 398% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Saudi Arabia (X tons) was the largest exporter of vulcanised rubber thread and cord, generating 81% of total exports. It was distantly followed by the United Arab Emirates (X tons), constituting an 18% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the vulcanised rubber thread and cord exports, with a CAGR of +10.7% from 2012 to 2021. The United Arab Emirates (-17.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Saudi Arabia increased by +57 percentage points.

In value terms, the largest vulcanised rubber thread supplying countries in GCC were Saudi Arabia ($X) and the United Arab Emirates ($X).

Saudi Arabia, with a CAGR of +4.3%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, growing by 2% against the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2013 an increase of 40%. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+16.7%).

Vulcanised Rubber Thread Imports

Imports in GCC

In 2021, the amount of vulcanised rubber thread and cord imported in GCC surged to X tons, picking up by 89% on the year before. In general, imports, however, saw a perceptible reduction. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, vulcanised rubber thread imports surged to $X in 2021. Over the period under review, imports, however, saw a noticeable downturn. The pace of growth appeared the most rapid in 2014 with an increase of 100%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X tons, which was near 95% of total imports in 2021. Kuwait (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the vulcanised rubber thread and cord imports, with a CAGR of +3.1% from 2012 to 2021. Kuwait (-19.6%) illustrated a downward trend over the same period. The United Arab Emirates (+48 p.p.) significantly strengthened its position in terms of the total imports, while Kuwait saw its share reduced by -5.7% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported vulcanised rubber thread and cord in GCC, comprising 95% of total imports. The second position in the ranking was held by Kuwait ($X), with a 1.7% share of total imports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates totaled +5.7%.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, falling by -11.2% against the previous year. Import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vulcanised rubber thread import price increased by +75.5% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the import price increased by 36%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+2.9%).

Source: IndexBox Platform