Jordan: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Jordan

The Jordanian unvulcanized rubber market reduced rapidly to $X in 2022, waning by -43.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a deep setback. Unvulcanized rubber consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Unvulcanized Rubber Exports

Exports from Jordan

In 2022, overseas shipments of unvulcanized rubber and articles thereof were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports saw a buoyant increase. The growth pace was the most rapid in 2013 when exports increased by 340%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, unvulcanized rubber exports surged to $X in 2022. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 when exports increased by 158%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Free Zones (X tons) was the main destination for unvulcanized rubber exports from Jordan, accounting for a 65% share of total exports. Moreover, unvulcanized rubber exports to Free Zones exceeded the volume sent to the second major destination, Syrian Arab Republic (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones totaled +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Syrian Arab Republic (+60.0% per year) and Saudi Arabia (-6.0% per year).

In value terms, the largest markets for unvulcanized rubber exported from Jordan were Free Zones ($X), Syrian Arab Republic ($X) and Saudi Arabia ($X), together comprising 100% of total exports.

In terms of the main countries of destination, Syrian Arab Republic, with a CAGR of +41.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average unvulcanized rubber export price amounted to $X per ton, with a decrease of -16.9% against the previous year. Over the period under review, the export price continues to indicate a slight setback. The pace of growth was the most pronounced in 2018 an increase of 137% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Free Zones ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+8.6%), while the prices for the other major destinations experienced a decline.

Unvulcanized Rubber Imports

Imports into Jordan

Unvulcanized rubber imports into Jordan contracted notably to X tons in 2022, shrinking by -39.4% against 2021. Overall, imports saw a abrupt setback. The pace of growth was the most pronounced in 2017 when imports increased by 18%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, unvulcanized rubber imports contracted dramatically to $X in 2022. In general, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 47% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), the United Arab Emirates (X tons) and China (X tons) were the main suppliers of unvulcanized rubber imports to Jordan, with a combined 60% share of total imports. Turkey, Poland, Thailand, the UK, India, France, Saudi Arabia, Slovenia, Indonesia and Malaysia lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +75.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and the United Arab Emirates ($X) were the largest unvulcanized rubber suppliers to Jordan, with a combined 52% share of total imports. Turkey, Thailand, Poland, the UK, Saudi Arabia, India, Slovenia, France, Indonesia and Malaysia lagged somewhat behind, together accounting for a further 34%.

Poland, with a CAGR of +50.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average unvulcanized rubber import price amounted to $X per ton, shrinking by -1.5% against the previous year. Over the last decade, it increased at an average annual rate of +5.3%. The pace of growth was the most pronounced in 2013 an increase of 38% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then declined modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+20.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform