GCC: Market for Natural Rubber And Gums 2024

Market Size for Natural Rubber And Gums in GCC

The GCC natural rubber and gum market contracted to $X in 2022, which is down by X% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2021, and then contracted in the following year.

Production of Natural Rubber And Gums in GCC

In value terms, natural rubber and gum production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

The United Arab Emirates (X tons) constituted the country with the largest volume of natural rubber and gum production, comprising approx. X% of total volume. Moreover, natural rubber and gum production in the United Arab Emirates exceeded the figures recorded by the second-largest producer, Saudi Arabia (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume in the United Arab Emirates was relatively modest.

Exports of Natural Rubber And Gums

Exports in GCC

In 2022, overseas shipments of natural rubber and gums decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, natural rubber and gum exports declined significantly to $X in 2022. In general, exports showed a deep slump. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Kuwait (X tons), making up a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to natural rubber and gum exports from the United Arab Emirates stood at X%. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. While the share of the United Arab Emirates (X p.p.) and Kuwait (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest natural rubber and gum supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Kuwait ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, picking up by X% against the previous year. Export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, natural rubber and gum export price increased by X% against 2017 indices. The growth pace was the most rapid in 2013 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Imports of Natural Rubber And Gums

Imports in GCC

In 2022, after four years of growth, there was significant decline in supplies from abroad of natural rubber and gums, when their volume decreased by X% to X tons. In general, imports showed a deep reduction. The pace of growth appeared the most rapid in 2019 with an increase of X%. The volume of import peaked at X tons in 2021, and then declined dramatically in the following year.

In value terms, natural rubber and gum imports dropped dramatically to $X in 2022. Over the period under review, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2019 when imports increased by X%. The level of import peaked at $X in 2021, and then fell significantly in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) represented the main importer of natural rubber and gums, achieving X% of total imports. It was distantly followed by Oman (X tons) and Qatar (X tons), together achieving a X% share of total imports. Kuwait (X tons) held a little share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the natural rubber and gums imports, with a CAGR of X% from 2012 to 2022. Oman (X%), Kuwait (X%) and Qatar (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.), Oman (X p.p.) and Kuwait (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported natural rubber and gums in GCC, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with an X% share of total imports. It was followed by Kuwait, with an X% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Oman (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price saw a notable increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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