MENA: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in MENA

The MENA's synthetic latex rubber market amounted to $X in 2022, growing by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Synthetic Latex Rubber Production in MENA

In value terms, synthetic latex rubber production amounted to $X in 2022 estimated in export price. The total production indicated a noticeable expansion 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 pace of growth appeared the most rapid in 2016 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Synthetic Latex Rubber Exports

Exports in MENA

In 2022, synthetic latex rubber exports in MENA reduced to X tons, dropping by X% on 2021. Over the period under review, exports, however, showed a strong expansion. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, synthetic latex rubber exports soared to $X in 2022. In general, exports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, Saudi Arabia (X tons) was the major exporter of synthetic latex rubber, generating X% of total exports. Iran (X tons) held the second position in the ranking, followed by the United Arab Emirates (X tons). All these countries together took approx. X% share of total exports. Turkey (X tons) took a minor share of total exports.

Exports from Saudi Arabia increased at an average annual rate of X% from 2012 to 2022. 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 MENA, 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, the largest synthetic latex rubber supplying countries in MENA were Saudi Arabia ($X), the United Arab Emirates ($X) and Iran ($X), together accounting for X% of total exports.

Among 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 MENA stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 ($X per ton), while Iran ($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 MENA

In 2022, the amount of synthetic latex rubber imported in MENA shrank to X tons, declining by X% on 2021. 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, synthetic latex rubber imports totaled $X in 2022. The total import value 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 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 likely to see steady growth in years to come.

Imports by Country

Turkey represented the largest importer of synthetic latex rubber in MENA, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), Egypt (X tons) and Kuwait (X tons), together constituting a X% share of total imports. The following importers - Algeria (X tons), Libya (X tons), Jordan (X tons), Israel (X tons) and Iran (X tons) - together made up X% of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%), Algeria (X%), Jordan (X%), the United Arab Emirates (X%), Israel (X%) and Libya (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. Egypt experienced a relatively flat trend pattern. By contrast, Iran (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Kuwait, Turkey and Algeria increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate 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. Overall, the import price, however, saw a slight reduction. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs 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 ($X per ton), while Libya ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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