Middle East: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in the Middle East

The Middle Eastern synthetic latex rubber market rose to $X in 2022, with an increase of X% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the market value increased by X% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Synthetic Latex Rubber Production in the Middle East

In value terms, synthetic latex rubber production amounted to $X in 2022 estimated in export price. The total production indicated perceptible 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 decreased by X% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Synthetic Latex Rubber Exports

Exports in the Middle East

In 2022, the amount of synthetic latex rubber exported in the Middle East reduced to X tons, shrinking by X% on the previous year's figure. Over the period under review, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, synthetic latex rubber exports surged to $X in 2022. Overall, exports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

Saudi Arabia was the key exporter of synthetic latex rubber in the Middle East, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. Iran (X tons) ranks second in terms of the total exports with a X% share, followed by the United Arab Emirates (X%). Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to synthetic latex rubber exports from Saudi Arabia stood at X%. At the same time, Iran (X%), the United Arab Emirates (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Iran and Saudi Arabia increased by X and X percentage points, respectively.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Iran ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Saudi Arabia, with a CAGR of X%, 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

The export price in the Middle East stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Synthetic Latex Rubber Imports

Imports in the Middle East

In 2022, the amount of synthetic latex rubber imported in the Middle East declined to X tons, which is down by X% against the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then reduced in the following year.

In value terms, synthetic latex rubber imports rose to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 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 represented the main importer of synthetic latex rubber in the Middle East, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons) and Kuwait (X tons), together mixing up a X% share of total imports. Jordan (X tons), Israel (X tons), Iran (X tons) and Iraq (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to synthetic latex rubber imports into Turkey stood at X%. At the same time, Iraq (X%), Kuwait (X%), Jordan (X%), the United Arab Emirates (X%) and Israel (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Iran (X%) illustrated a downward trend over the same period. Kuwait (X p.p.), Turkey (X p.p.) and Iraq (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates and Iran saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported synthetic latex rubber in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 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 Turkey amounted to X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, saw a slight curtailment. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :