MENA: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in MENA

The MENA's vulcanised rubber seal market fell to $X in 2022, dropping by -9.4% against the previous year. In general, consumption, however, enjoyed a prominent expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Vulcanised Rubber Seal Production in MENA

In value terms, vulcanised rubber seal production fell notably to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 60%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Vulcanised Rubber Seal Exports

Exports in MENA

In 2022, shipments abroad of seals of vulcanised rubber increased by 7.2% to X tons, rising for the sixth year in a row after four years of decline. Over the period under review, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 48% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, vulcanised rubber seal exports expanded notably to $X in 2022. Overall, exports continue to indicate prominent growth. The growth pace was the most rapid in 2017 when exports increased by 67%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Turkey was the major exporting country with an export of around X tons, which finished at 50% of total exports. It was distantly followed by Morocco (X tons) and the United Arab Emirates (X tons), together creating a 45% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Morocco (with a CAGR of +62.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber seal supplying countries in MENA were Turkey ($X), Morocco ($X) and the United Arab Emirates ($X), together comprising 92% of total exports.

Morocco, with a CAGR of +61.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, flattening at the previous year. Over the last decade, it increased at an average annual rate of +3.5%. The most prominent rate of growth was recorded in 2018 an increase of 15%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.2%), while the other leaders experienced mixed trends in the export price figures.

Vulcanised Rubber Seal Imports

Imports in MENA

In 2022, the amount of seals of vulcanised rubber imported in MENA fell modestly to X tons, remaining relatively unchanged against 2021. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 18%. Over the period under review, imports attained the maximum at X tons in 2021, and then dropped slightly in the following year.

In value terms, vulcanised rubber seal imports stood at $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +55.0% against 2016 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 15%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Turkey (X tons), distantly followed by Saudi Arabia (X tons), Egypt (X tons), the United Arab Emirates (X tons) and Qatar (X tons) were the largest importers of seals of vulcanised rubber, together creating 72% of total imports. Israel (X tons), Iraq (X tons), Morocco (X tons), Iran (X tons), Kuwait (X tons), Algeria (X tons), Oman (X tons) and Tunisia (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Qatar (with a CAGR of +12.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 60% share of total imports.

In terms of the main importing countries, Saudi Arabia, with a CAGR of +10.3%, recorded the highest growth rate of 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

In 2022, the import price in MENA amounted to $X per ton, surging by 2.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2019 an increase of 14%. Over the period under review, import prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+11.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform