Middle East: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in the Middle East

The Middle Eastern unvulcanized rubber market fell modestly to $X in 2022, reducing by -4.3% against the previous year. Over the period under review, consumption enjoyed a resilient expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Unvulcanized Rubber Production in the Middle East

In value terms, unvulcanized rubber production fell dramatically to $X in 2022 estimated in export price. In general, production, however, saw a significant increase. The growth pace was the most rapid in 2018 when the production volume increased by 169% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Unvulcanized Rubber Exports

Exports in the Middle East

In 2022, unvulcanized rubber exports in the Middle East reduced to X tons, dropping by -6.5% against 2021. The total export volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 30% against the previous year. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, unvulcanized rubber exports totaled $X in 2022. The total export value increased at an average annual rate of +2.9% 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 2021 with an increase of 39% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

In 2022, Turkey (X tons) represented the major exporter of unvulcanized rubber and articles thereof, committing 84% of total exports. It was distantly followed by the United Arab Emirates (X tons), mixing up a 12% share of total exports. Saudi Arabia (X tons) held a little share of total exports.

Turkey was also the fastest-growing in terms of the unvulcanized rubber and articles thereof exports, with a CAGR of +4.6% from 2012 to 2022. At the same time, the United Arab Emirates (+3.1%) displayed positive paces of growth. By contrast, Saudi Arabia (-4.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey increased by +5.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest unvulcanized rubber supplier in the Middle East, comprising 83% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +3.8%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+1.9% per year) and Saudi Arabia (-7.7% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, growing by 9.8% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat 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 Turkey (-0.8%), while the other leaders experienced a decline in the export price figures.

Unvulcanized Rubber Imports

Imports in the Middle East

In 2022, imports of unvulcanized rubber and articles thereof in the Middle East expanded rapidly to X tons, increasing by 11% compared with the previous year's figure. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 when imports increased by 11% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, unvulcanized rubber imports expanded remarkably to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 12%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Turkey represented the largest importing country with an import of around X tons, which reached 57% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 15% share, followed by Israel (7.5%) and Iran (5%). Saudi Arabia (X tons), Bahrain (X tons) and Qatar (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to unvulcanized rubber imports into Turkey stood at +5.2%. At the same time, Bahrain (+13.2%), Israel (+6.2%) and the United Arab Emirates (+1.6%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +13.2% from 2012-2022. Iran experienced a relatively flat trend pattern. By contrast, Qatar (-1.7%) and Saudi Arabia (-15.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Israel and Bahrain increased by +16, +2.6 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported unvulcanized rubber and articles thereof in the Middle East, comprising 48% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total imports. It was followed by Israel, with a 14% share.

In Turkey, unvulcanized rubber imports expanded at an average annual rate of +2.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+1.5% per year) and Israel (+6.0% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the import price showed a slight decline. The pace of growth was the most pronounced in 2021 when the import price increased by 12% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 Israel ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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