Middle East: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in the Middle East

In 2021, the Middle Eastern unvulcanised rubber market decreased by -16.4% to $X, falling for the third year in a row after seven years of growth. The total consumption indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -30.8% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Unvulcanised Rubber Production in the Middle East

In value terms, unvulcanised rubber production skyrocketed to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 25%. The level of production peaked at $X in 2017; afterwards, it flattened through to 2021.

Unvulcanised Rubber Exports

Exports in the Middle East

In 2021, unvulcanised rubber exports in the Middle East shrank to X tons, waning by -2.5% compared with 2020. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +11.4% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 17% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, unvulcanised rubber exports dropped to $X in 2021. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by 28%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey dominates exports structure, finishing at X tons, which was approx. 97% of total exports in 2021. The United Arab Emirates (X tons) took a minor share of total exports.

Exports from Turkey increased at an average annual rate of +5.8% from 2012 to 2021. At the same time, the United Arab Emirates (+25.4%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +25.4% from 2012-2021. While the share of the United Arab Emirates (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-1.9 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest unvulcanised rubber supplier in the Middle East, comprising 95% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 4.1% share of total exports.

In Turkey, unvulcanised rubber exports expanded at an average annual rate of +1.4% over the period from 2012-2021.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, shrinking by -8.5% against the previous year. Overall, the export price continues to indicate a pronounced slump. The growth pace was the most rapid in 2013 an increase of 19%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.1%).

Unvulcanised Rubber Imports

Imports in the Middle East

In 2021, supplies from abroad of unvulcanised rubber was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 17% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, unvulcanised rubber imports soared to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Turkey represented the major importing country with an import of around X tons, which reached 84% of total imports. It was distantly followed by the United Arab Emirates (X tons), creating an 11% share of total imports. Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to unvulcanised rubber imports into Turkey stood at +3.7%. At the same time, the United Arab Emirates (+16.5%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +16.5% from 2012-2021. By contrast, Saudi Arabia (-24.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and the United Arab Emirates increased by +17 and +8.2 percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported unvulcanised rubber in the Middle East, comprising 75% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 17% share of total imports.

In Turkey, unvulcanised rubber imports increased at an average annual rate of +1.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+15.2% per year) and Saudi Arabia (-20.6% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, rising by 7% against the previous year. Overall, the import price, however, continues to indicate a mild decrease. The growth pace was the most rapid in 2019 an increase of 11% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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