Saudi Arabia: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in Saudi Arabia

The Saudi synthetic latex rubber market was estimated at $X in 2021, flattening at the previous year. Over the period under review, consumption, however, saw resilient growth. Synthetic latex rubber consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Synthetic Latex Rubber Production in Saudi Arabia

In value terms, synthetic latex rubber production expanded notably to $X in 2021 estimated in export price. In general, production saw a buoyant expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by 59% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Synthetic Latex Rubber Exports

Exports from Saudi Arabia

In 2021, approx. X tons of synthetic latex rubber were exported from Saudi Arabia; growing by 15% compared with 2020 figures. In general, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 103%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, synthetic latex rubber exports surged to $X in 2021. Overall, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by 84%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Egypt (X tons), the United Arab Emirates (X tons) and Jordan (X tons) were the main destinations of synthetic latex rubber exports from Saudi Arabia.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +39.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic latex rubber exported from Saudi Arabia were Egypt ($X), the United Arab Emirates ($X) and Jordan ($X).

In terms of the main countries of destination, Egypt, with a CAGR of +36.9%, saw the highest growth rate of 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

In 2021, the average synthetic latex rubber export price amounted to $X per ton, increasing by 22% against the previous year. In general, the export price, however, continues to indicate a noticeable setback. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Kuwait ($X per ton) and Pakistan ($X per ton), while the average price for exports to Egypt ($X per ton) and Jordan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (-1.2%), while the prices for the other major destinations experienced a decline.

Synthetic Latex Rubber Imports

Imports into Saudi Arabia

After two years of growth, purchases abroad of synthetic latex rubber decreased by -35% to X tons in 2021. Overall, imports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2013 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic latex rubber imports reduced to $X in 2021. Over the period under review, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 49% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of synthetic latex rubber imports to Saudi Arabia, together comprising 72% of total imports. These countries were followed by Belgium, Poland, China, India, South Korea and France, which together accounted for a further 22%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +218.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of synthetic latex rubber to Saudi Arabia, comprising 54% of total imports. The second position in the ranking was taken by Germany ($X), with a 13% share of total imports. It was followed by Poland, with a 9% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +42.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.1% per year) and Poland (+175.9% per year).

Import Prices by Country

The average synthetic latex rubber import price stood at $X per ton in 2021, jumping by 35% against the previous year. Overall, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, synthetic latex rubber import price decreased by -10.0% against 2019 indices. The growth pace was the most rapid in 2016 an increase of 35%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+9.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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