Middle East: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in the Middle East

The Middle Eastern extruded solid rubber rod market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption, however, continues to indicate a mild downturn. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Extruded Solid Rubber Rods And Profiles in the Middle East

In value terms, extruded solid rubber rod production declined to $X in 2022 estimated in export price. In general, production continues to indicate a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 371% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Extruded Solid Rubber Rods And Profiles

Exports in the Middle East

In 2022, after three years of growth, there was decline in overseas shipments of extruded solid rubber rods and profiles, when their volume decreased by -4.6% to X tons. Total exports indicated modest growth 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 +46.2% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 30%. 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 dropped to $X in 2022. Total exports indicated a temperate 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 +54.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 46%. As a result, the exports attained the peak of $X, and then reduced slightly in the following year.

Exports by Country

Turkey was the main exporter of extruded solid rubber rods and profiles in the Middle East, with the volume of exports reaching X tons, which was near 81% of total exports in 2022. The United Arab Emirates (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, 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 ($X) remains the largest extruded solid rubber rod supplier in the Middle East, comprising 83% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at +7.0%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-7.2% per year) and Saudi Arabia (+5.0% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, growing by 1.6% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 25%. 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 the Middle East

In 2022, the amount of extruded solid rubber rods and profiles imported in the Middle East soared to X tons, picking up by 52% against the previous year. Total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.5% 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 +87.0% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, extruded solid rubber rod imports totaled $X in 2022. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 35% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Iran (X tons) represented the key importer of extruded solid rubber rods and profiles, constituting 45% of total imports. It was distantly followed by the United Arab Emirates (X tons), Turkey (X tons), Saudi Arabia (X tons), Bahrain (X tons) and Oman (X tons), together achieving a 40% share of total imports. Israel (X tons) followed a long way behind the leaders.

Iran was also the fastest-growing in terms of the extruded solid rubber rods and profiles imports, with a CAGR of +18.3% from 2012 to 2022. At the same time, Bahrain (+10.9%), Israel (+3.7%) and Oman (+3.6%) displayed positive paces of growth. Turkey experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-5.2%) and Saudi Arabia (-9.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Iran and Bahrain increased by +34 and +3.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Iran ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2022, together accounting for 67% of total imports.

Among the main importing countries, Iran, with a CAGR of +11.1%, 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 the Middle East amounted to $X per ton, which is down by -33.6% against the previous year. Overall, the import price showed a noticeable slump. The pace of growth was the most pronounced in 2020 when the import price increased by 25% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the import prices remained at a somewhat 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

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