MENA: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in MENA

The MENA's unvulcanized rubber market shrank to $X in 2022, waning by -4.3% against the previous year. Overall, consumption, however, showed strong growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Unvulcanized Rubber Production in MENA

In value terms, unvulcanized rubber production dropped remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed significant growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 169% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Unvulcanized Rubber Exports

Exports in MENA

In 2022, approx. X tons of unvulcanized rubber and articles thereof were exported in MENA; shrinking by -6% against 2021 figures. The total export volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 29%. As a result, the exports attained the peak of X tons, and then reduced in the following year.

In value terms, unvulcanized rubber exports rose modestly to $X in 2022. The total export value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 38% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

Turkey represented the major exporter of unvulcanized rubber and articles thereof in MENA, with the volume of exports recording X tons, which was approx. 83% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), comprising a 12% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the unvulcanized rubber and articles thereof exports, with a CAGR of +4.6% from 2012 to 2022. At the same time, the United Arab Emirates (+3.1%) displayed positive paces of growth. By contrast, Saudi Arabia (-4.5%) illustrated a downward trend over the same period. Turkey (+6.2 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -3.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest unvulcanized rubber supplier in MENA, comprising 82% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total exports.

In Turkey, unvulcanized rubber exports increased at an average annual rate of +3.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+1.9% per year) and Saudi Arabia (-7.7% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, increasing by 10% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat 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 Turkey (-0.8%), while the other leaders experienced a decline in the export price figures.

Unvulcanized Rubber Imports

Imports in MENA

In 2022, purchases abroad of unvulcanized rubber and articles thereof was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 12% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, unvulcanized rubber imports expanded significantly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 12%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Turkey represented the key importer of unvulcanized rubber and articles thereof in MENA, with the volume of imports amounting to X tons, which was approx. 46% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), Morocco (X tons) and Israel (X tons), together generating a 28% share of total imports. The following importers - Egypt (X tons), Iran (X tons), Saudi Arabia (X tons), Algeria (X tons), Tunisia (X tons), Bahrain (X tons) and Qatar (X tons) - together made up 20% of total imports.

From 2012 to 2022, average annual rates of growth with regard to unvulcanized rubber imports into Turkey stood at +5.2%. At the same time, Bahrain (+13.2%), Morocco (+8.7%), Israel (+6.2%), Tunisia (+1.9%) and the United Arab Emirates (+1.6%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in MENA, with a CAGR of +13.2% from 2012-2022. Iran experienced a relatively flat trend pattern. By contrast, Qatar (-1.7%), Algeria (-2.8%), Egypt (-2.9%) and Saudi Arabia (-15.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Morocco and Israel increased by +13, +4.6 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported unvulcanized rubber and articles thereof in MENA, comprising 37% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by Morocco, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to +2.6%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+1.5% per year) and Morocco (+11.3% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 11%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Israel ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform