Middle East: Market for Vulcanised Cellular Rubber Articles For Technical Uses 2024

Market Size for Vulcanised Cellular Rubber Articles For Technical Uses in the Middle East

In 2021, after nine years of growth, there was significant decline in the Middle Eastern vulcanised cellular rubber articles market, when its value decreased by -12.8% to $X. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +73.0% against 2012 indices. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Production of Vulcanised Cellular Rubber Articles For Technical Uses in the Middle East

In value terms, vulcanised cellular rubber articles production reduced to $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.8% 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 +20.3% against 2016 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 37%. As a result, production attained the peak level of $X, and then contracted in the following year.

Exports of Vulcanised Cellular Rubber Articles For Technical Uses

Exports in the Middle East

In 2021, shipments abroad of vulcanised cellular rubber articles for technical uses increased by 55% to X tons, rising for the second consecutive year after two years of decline. Overall, exports saw a resilient increase. The pace of growth was the most pronounced in 2013 when exports increased by 86%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, vulcanised cellular rubber articles exports surged to $X in 2021. Over the period under review, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 350%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Turkey (X tons) and the United Arab Emirates (X tons), together accounting for 98% of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of +19.1%).

In value terms, the largest vulcanised cellular rubber articles supplying countries in the Middle East were Turkey ($X) and the United Arab Emirates ($X).

The United Arab Emirates, with a CAGR of +20.3%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, with a decrease of -19.7% against the previous year. Over the period under review, the export price continues to indicate a mild contraction. The pace of growth appeared the most rapid in 2013 when the export price increased by 142% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates 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 (+1.8%).

Imports of Vulcanised Cellular Rubber Articles For Technical Uses

Imports in the Middle East

In 2021, approx. X tons of vulcanised cellular rubber articles for technical uses were imported in the Middle East; dropping by -4.7% compared with 2020. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +29.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 36%. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, vulcanised cellular rubber articles imports fell to $X in 2021. The total import value increased at an average annual rate of +5.1% 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 2017 with an increase of 33%. Over the period under review, imports reached the peak figure at $X in 2020, and then contracted in the following year.

Imports by Country

In 2021, Saudi Arabia (X tons) was the key importer of vulcanised cellular rubber articles for technical uses, comprising 43% of total imports. Turkey (X tons) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (10%), Iraq (6.8%), Qatar (6.1%), Oman (5.2%) and Iran (4.6%).

From 2012 to 2021, average annual rates of growth with regard to vulcanised cellular rubber articles imports into Saudi Arabia stood at +15.6%. At the same time, Oman (+16.1%), Turkey (+8.9%), the United Arab Emirates (+6.6%), Qatar (+4.1%) and Iraq (+4.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +16.1% from 2012-2021. By contrast, Iran (-2.0%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+18 p.p.) and Oman (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the United Arab Emirates (-1.9 p.p.), Qatar (-2.8 p.p.), Iraq (-3.2 p.p.) and Iran (-7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vulcanised cellular rubber articles importing markets in the Middle East were Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X), with a combined 65% share of total imports.

Saudi Arabia, with a CAGR of +11.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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, which is down by -3.6% against the previous year. In general, the import price continues to indicate a perceptible contraction. The growth pace was the most rapid in 2017 when the import price increased by 10%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+3.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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