MENA: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in MENA

In 2022, the MENA's extruded solid rubber rod market was finally on the rise to reach $X after two years of decline. In general, consumption, however, showed a mild slump. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Extruded Solid Rubber Rods And Profiles in MENA

In value terms, extruded solid rubber rod production dropped to $X in 2022 estimated in export price. Overall, production posted significant growth. The growth pace was the most rapid in 2019 with an increase of 371%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Exports of Extruded Solid Rubber Rods And Profiles

Exports in MENA

After three years of growth, shipments abroad of extruded solid rubber rods and profiles decreased by -4.5% to X tons in 2022. Total exports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +45.3% against 2018 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 29% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, extruded solid rubber rod exports declined to $X in 2022. Total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.6% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 45% against the previous year. As a result, the exports reached the peak of $X, and then declined slightly in the following year.

Exports by Country

In 2022, Turkey (X tons) represented the key exporter of extruded solid rubber rods and profiles, generating 81% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 12% share, followed by Saudi Arabia (6.2%).

Turkey was also the fastest-growing in terms of the extruded solid rubber rods and profiles exports, with a CAGR of +7.2% from 2012 to 2022. At the same time, Saudi Arabia (+5.8%) displayed positive paces of growth. By contrast, the United Arab Emirates (-10.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Saudi Arabia increased by +34 and +2.1 percentage points, respectively.

In value terms, Turkey ($X) remains the largest extruded solid rubber rod supplier in MENA, comprising 83% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total exports.

In Turkey, extruded solid rubber rod exports increased at an average annual rate of +7.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (-7.2% per year) and Saudi Arabia (+5.0% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, picking up by 1.6% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 24% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.1%), while the other leaders experienced a decline in the export price figures.

Imports of Extruded Solid Rubber Rods And Profiles

Imports in MENA

In 2022, extruded solid rubber rod imports in MENA soared to X tons, rising by 31% on 2021 figures. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.9% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 32%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, extruded solid rubber rod imports totaled $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.0% against 2016 indices. The growth pace was the most rapid in 2019 when imports increased by 35%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Iran (X tons) and Morocco (X tons) were the main importers of extruded solid rubber rods and profiles in 2022, amounting to near 30% and 28% of total imports, respectively. It was distantly followed by the United Arab Emirates (X tons), Turkey (X tons) and Saudi Arabia (X tons), together making up a 20% share of total imports. Bahrain (X tons), Algeria (X tons), Oman (X tons), Israel (X tons), Yemen (X tons) and Iraq (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Morocco (with a CAGR of +27.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X), Turkey ($X) and Iran ($X) constituted the countries with the highest levels of imports in 2022, with a combined 59% share of total imports.

Morocco, with a CAGR of +24.5%, 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

In 2022, the import price in MENA amounted to $X per ton, falling by -22% against the previous year. Overall, the import price saw a mild curtailment. The pace of growth was the most pronounced in 2020 when the import price increased by 21% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform