United Arab Emirates: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in the United Arab Emirates

In 2021, the synthetic rubber (excluding latex) market in the United Arab Emirates increased by 16% to $X, rising for the second year in a row after three years of decline. In general, the total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +39.5% against 2019 indices. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in years to come.

Production of Synthetic Rubber (Excluding Latex) in the United Arab Emirates

In value terms, synthetic rubber (excluding latex) production stood at $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 37% against the previous year. Synthetic rubber (excluding latex) production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Synthetic Rubber (Excluding Latex)

Exports from the United Arab Emirates

In 2021, shipments abroad of synthetic rubber (excluding latex) decreased by -20.8% to X tons, falling for the second consecutive year after six years of growth. In general, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2018 when exports increased by 75%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, synthetic rubber (excluding latex) exports shrank to $X in 2021. Overall, exports, however, saw a measured expansion. The pace of growth was the most pronounced in 2015 when exports increased by 89%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Iran (X tons), Oman (X tons) and Afghanistan (X tons) were the main destinations of synthetic rubber (excluding latex) exports from the United Arab Emirates, together accounting for 33% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +21.2%), while the other leaders experienced more modest paces of growth.

In value terms, Iran ($X) emerged as the key foreign market for synthetic rubber (excluding latex) exports from the United Arab Emirates, comprising 27% of total exports. The second position in the ranking was held by Afghanistan ($X), with a 6.3% share of total exports. It was followed by Saudi Arabia, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Iran was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Afghanistan (0.0% per year) and Saudi Arabia (+20.7% per year).

Export Prices by Country

The average synthetic rubber (excluding latex) export price stood at $X per ton in 2021, jumping by 23% against the previous year. In general, the export price, however, continues to indicate a abrupt decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+7.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Synthetic Rubber (Excluding Latex)

Imports into the United Arab Emirates

For the third consecutive year, the United Arab Emirates recorded growth in purchases abroad of synthetic rubber (excluding latex), which increased by 23% to X tons in 2021. In general, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +9.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +46.3% against 2018 indices. The pace of growth was the most pronounced in 2016 with an increase of 45% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, synthetic rubber (excluding latex) imports soared to $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% 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 +143.6% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), South Korea (X tons) and Russia (X tons) were the main suppliers of synthetic rubber (excluding latex) imports to the United Arab Emirates, with a combined 39% share of total imports. Saudi Arabia, China, the UK, Japan, Malaysia, the United States, Taiwan (Chinese), Poland, France and Brazil lagged somewhat behind, together accounting for a further 50%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +34.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber (excluding latex) suppliers to the United Arab Emirates were Germany ($X), South Korea ($X) and Saudi Arabia ($X), together comprising 42% of total imports. Russia, Japan, China, the United States, the UK, Taiwan (Chinese), Poland, Malaysia, France and Brazil lagged somewhat behind, together accounting for a further 48%.

Among the main suppliers, France, with a CAGR of +34.1%, saw 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

In 2021, the average synthetic rubber (excluding latex) import price amounted to $X per ton, increasing by 28% against the previous year. In general, the import price, however, continues to indicate a perceptible shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+5.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform