MENA: Market for Vulcanised Cellular Rubber Articles For Technical Uses 2024

Market Size for Vulcanised Cellular Rubber Articles For Technical Uses in MENA

After six years of growth, the MENA's vulcanised cellular rubber articles market decreased by -8.6% to $X in 2021. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.1% 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 increased by +67.8% against 2014 indices. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Production of Vulcanised Cellular Rubber Articles For Technical Uses in MENA

In value terms, vulcanised cellular rubber articles production contracted to $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +67.8% against 2014 indices. The most prominent rate of growth was recorded in 2020 with an increase of 18% against the previous year. As a result, production attained the peak level of $X, and then reduced in the following year.

Exports of Vulcanised Cellular Rubber Articles For Technical Uses

Exports in MENA

In 2021, overseas shipments of vulcanised cellular rubber articles for technical uses increased by 55% to X tons, rising for the second consecutive year after two years of decline. Overall, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 90%. The volume of export peaked in 2021 and is likely to see steady growth in the near future.

In value terms, vulcanised cellular rubber articles exports skyrocketed to $X in 2021. Over the period under review, exports recorded a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of 351%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the two major exporters of vulcanised cellular rubber articles for technical uses, namely Turkey and the United Arab Emirates, represented more than two-thirds of total export.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +19.1%).

In value terms, the largest vulcanised cellular rubber articles supplying countries in MENA were Turkey ($X) and the United Arab Emirates ($X).

The United Arab Emirates, with a CAGR of +20.3%, 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 MENA stood at $X per ton in 2021, declining by -19.2% against the previous year. Over the period under review, the export price showed a slight setback. The pace of growth was the most pronounced in 2013 when the export price increased by 137%. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.8%).

Imports of Vulcanised Cellular Rubber Articles For Technical Uses

Imports in MENA

In 2021, the amount of vulcanised cellular rubber articles for technical uses imported in MENA dropped to X tons, waning by -5.1% compared with 2020. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +28.1% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 35%. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, vulcanised cellular rubber articles imports shrank to $X in 2021. The total import value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 28%. As a result, imports attained the peak of $X, and then fell slightly in the following year.

Imports by Country

In 2021, Saudi Arabia (X tons) represented the largest importer of vulcanised cellular rubber articles for technical uses, generating 38% of total imports. Turkey (X tons) ranks second in terms of the total imports with a 9.8% share, followed by the United Arab Emirates (9.2%), Iraq (6.1%), Qatar (5.4%) and Oman (4.6%). Egypt (X tons), Iran (X tons), Kuwait (X tons), Libya (X tons), Jordan (X tons), Bahrain (X tons) and Israel (X tons) took a relatively small share of total imports.

Imports into Saudi Arabia increased at an average annual rate of +15.6% from 2012 to 2021. At the same time, Bahrain (+19.9%), Oman (+16.1%), Turkey (+8.9%), the United Arab Emirates (+6.6%), Kuwait (+4.8%), Egypt (+4.6%), Qatar (+4.1%), Iraq (+4.1%), Israel (+3.7%) and Jordan (+3.7%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in MENA, with a CAGR of +19.9% from 2012-2021. By contrast, Libya (-1.5%) and Iran (-2.0%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+18 p.p.), Oman (+2.3 p.p.) and Bahrain (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Qatar (-1.9 p.p.), Iraq (-2.2 p.p.), Libya (-3.9 p.p.) and Iran (-5.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 54% share of total imports. These countries were followed by Egypt, Iraq, Iran, Israel, Kuwait, Qatar, Oman, Jordan, Libya and Bahrain, which together accounted for a further 39%.

Among the main importing countries, Bahrain, with a CAGR of +14.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Overall, the import price, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2019 when the import price increased by 5.3% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 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, the country with the highest price was Israel ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform