Middle East: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in the Middle East

In 2021, the Middle Eastern reclaimed rubber market increased by 4.7% to $X, rising for the fifth consecutive year after three years of decline. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Reclaimed Rubber Production in the Middle East

In value terms, reclaimed rubber production dropped slightly to $X in 2021 estimated in export price. The total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.2% 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 +52.3% against 2016 indices. The growth pace was the most rapid in 2019 with an increase of 32% against the previous year. The level of production peaked at $X in 2020, and then shrank slightly in the following year.

Reclaimed Rubber Exports

Exports in the Middle East

In 2021, reclaimed rubber exports in the Middle East soared to X tons, increasing by 16% against the previous year's figure. Over the period under review, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 168%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, reclaimed rubber exports surged to $X in 2021. Overall, exports showed a buoyant increase. The growth pace was the most rapid in 2017 when exports increased by 77%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Qatar (X tons) and Saudi Arabia (X tons) represented the major exporters of reclaimed rubber in 2021, reaching near 32% and 26% of total exports, respectively. It was distantly followed by the United Arab Emirates (X tons), Oman (X tons), Turkey (X tons), Israel (X tons) and Iran (X tons), together committing a 42% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +797.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest reclaimed rubber supplying countries in the Middle East were Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X), together accounting for 65% of total exports.

In terms of the main exporting countries, Qatar, with a CAGR of +143.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, picking up by 20% against the previous year. Over the period under review, the export price, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2020 an increase of 33%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+6.8%), while the other leaders experienced more modest paces of growth.

Reclaimed Rubber Imports

Imports in the Middle East

In 2021, after two years of decline, there was significant growth in supplies from abroad of reclaimed rubber, when their volume increased by 48% to X tons. The total import volume increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, reclaimed rubber imports skyrocketed to $X in 2021. Overall, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons) and the United Arab Emirates (X tons) prevails in imports structure, together generating 89% of total imports. It was distantly followed by Qatar (X tons), constituting a 4.9% share of total imports. Oman (X tons) and Israel (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman (with a CAGR of +27.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Qatar ($X) were the countries with the highest levels of imports in 2021, with a combined 91% share of total imports. These countries were followed by Oman and Israel, which together accounted for a further 4.9%.

In terms of the main importing countries, Oman, with a CAGR of +27.4%, saw 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

The import price in the Middle East stood at $X per ton in 2021, picking up by 6.7% against the previous year. Over the period under review, the import price, however, showed a slight reduction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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