MENA: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in MENA

In 2021, the MENA's unvulcanised rubber market decreased by -16% to $X, falling for the third consecutive year after seven years of growth. The total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -30.4% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Unvulcanised Rubber Production in MENA

In value terms, unvulcanised rubber production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 25% against the previous year. The level of production peaked at $X in 2017; afterwards, it flattened through to 2021.

Unvulcanised Rubber Exports

Exports in MENA

In 2021, the amount of unvulcanised rubber exported in MENA shrank modestly to X tons, with a decrease of -2.3% compared with the previous year's figure. Total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +11.7% against 2019 indices. The pace of growth appeared the most rapid in 2016 when exports increased by 15% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, unvulcanised rubber exports dropped to $X in 2021. The total export value increased at an average annual rate of +1.8% over the period 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 2013 with an increase of 28%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey dominates exports structure, reaching X tons, which was near 96% of total exports in 2021. The United Arab Emirates (X tons) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +5.8% from 2012 to 2021. At the same time, the United Arab Emirates (+25.4%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +25.4% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates increased by +2.2 percentage points.

In value terms, Turkey ($X) remains the largest unvulcanised rubber supplier in MENA, comprising 95% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 4% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Turkey amounted to +1.4%.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, waning by -8.4% against the previous year. Over the period under review, the export price showed a noticeable contraction. The pace of growth appeared the most rapid in 2013 when the export price increased by 18%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat 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 Turkey amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.1%).

Unvulcanised Rubber Imports

Imports in MENA

In 2021, supplies from abroad of unvulcanised rubber increased by 6.5% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 12% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, unvulcanised rubber imports amounted to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X tons) was the main importer of unvulcanised rubber, creating 67% of total imports. It was distantly followed by Egypt (X tons), the United Arab Emirates (X tons) and Morocco (X tons), together constituting a 28% share of total imports. Tunisia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to unvulcanised rubber imports into Turkey stood at +3.7%. At the same time, the United Arab Emirates (+16.5%), Morocco (+8.1%), Egypt (+4.3%) and Tunisia (+1.9%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +16.5% from 2012-2021. While the share of Turkey (+15 p.p.), the United Arab Emirates (+6.6 p.p.), Morocco (+4 p.p.) and Egypt (+2.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported unvulcanised rubber in MENA, comprising 53% of total imports. The second position in the ranking was held by Egypt ($X), with a 14% share of total imports. It was followed by the United Arab Emirates, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey totaled +1.4%. In the other countries, the average annual rates were as follows: Egypt (+4.6% per year) and the United Arab Emirates (+15.2% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, surging by 6.1% against the previous year. Over the period under review, the import price, however, recorded a slight reduction. The pace of growth appeared the most rapid in 2019 when the import price increased by 9.6%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Egypt ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform