Middle East: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in the Middle East

In 2021, the Middle Eastern vulcanised rubber thread market increased by 5.3% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 7.8% against the previous year. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Vulcanised Rubber Thread Production in the Middle East

In value terms, vulcanised rubber thread production skyrocketed to $X in 2021 estimated in export price. In general, production posted a moderate increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 58% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Vulcanised Rubber Thread Exports

Exports in the Middle East

In 2021, the amount of vulcanised rubber thread and cord exported in the Middle East skyrocketed to X tons, rising by 111% against the previous year's figure. In general, exports saw a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, vulcanised rubber thread exports skyrocketed to $X in 2021. Over the period under review, exports showed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey prevails in exports structure, amounting to X tons, which was approx. 96% of total exports in 2021. Saudi Arabia (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the vulcanised rubber thread and cord exports, with a CAGR of +18.5% from 2012 to 2021. At the same time, Saudi Arabia (+10.7%) displayed positive paces of growth. Turkey (+22 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest vulcanised rubber thread supplier in the Middle East, comprising 97% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 1% share of total exports.

In Turkey, vulcanised rubber thread exports expanded at an average annual rate of +16.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, surging by 31% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Saudi Arabia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-1.8%).

Vulcanised Rubber Thread Imports

Imports in the Middle East

After two years of growth, purchases abroad of vulcanised rubber thread and cord decreased by -3.4% to X tons in 2021. The total import volume increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when imports increased by 34% against the previous year. The volume of import peaked at X tons in 2020, and then contracted in the following year.

In value terms, vulcanised rubber thread imports surged to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 25% against the previous year. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

Turkey (X tons) and Iran (X tons) prevails in imports structure, together making up 80% of total imports. The United Arab Emirates (X tons) ranks next in terms of the total imports with a 9.2% share, followed by Syrian Arab Republic (4.9%). Iraq (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 key importing countries, was attained by Iraq (with a CAGR of +11.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Iran ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 88% of total imports. Iraq and Syrian Arab Republic lagged somewhat behind, together accounting for a further 10%.

In terms of the main importing countries, Iraq, with a CAGR of +16.7%, recorded the highest rates of growth with regard to 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, jumping by 22% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 22% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Iraq ($X per ton), while Syrian Arab Republic ($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 (+5.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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