MENA: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in MENA

The MENA's synthetic rubber market surged to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Synthetic Rubber Production in MENA

In value terms, synthetic rubber production rose remarkably to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of production peaked in 2022 and is expected to retain growth in years to come.

Synthetic Rubber Exports

Exports in MENA

In 2022, synthetic rubber exports in MENA amounted to X tons, remaining relatively unchanged against the year before. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, synthetic rubber exports reduced modestly to $X in 2022. In general, exports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of export peaked at $X in 2021, and then shrank slightly in the following year.

Exports by Country

In 2022, Saudi Arabia (X tons) represented the major exporter of synthetic rubber, creating X% of total exports. Turkey (X tons) held the second position in the ranking, distantly followed by the United Arab Emirates (X tons). All these countries together held near X% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the synthetic rubber exports, with a CAGR of X% from 2012 to 2022. At the same time, Turkey (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates and Turkey saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X) remains the largest synthetic rubber supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the export price showed a noticeable descent. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced a decline in the export price figures.

Synthetic Rubber Imports

Imports in MENA

In 2022, supplies from abroad of synthetic rubber increased by X% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic rubber imports soared to $X in 2022. Total imports indicated slight growth from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Turkey dominates imports structure, recording X tons, which was approx. X% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), committing a X% share of total imports. The following importers - Saudi Arabia (X tons), Egypt (X tons), Israel (X tons), Kuwait (X tons) and Iran (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to synthetic rubber imports into Turkey stood at X%. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. Israel and the United Arab Emirates experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%), Iran (X%) and Egypt (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Kuwait increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported synthetic rubber in MENA, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Egypt, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Egypt (X% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, recorded a perceptible slump. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Israel ($X per ton) and the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) and Kuwait ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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