MENA: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in MENA

After two years of growth, the MENA's synthetic latex rubber market decreased by X% to $X in 2023. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Synthetic Latex Rubber Production in MENA

In value terms, synthetic latex rubber production rose slightly to $X in 2023 estimated in export price. In general, production continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Synthetic Latex Rubber Exports

Exports in MENA

In 2023, approx. X tons of synthetic latex rubber were exported in MENA; growing by X% on 2022. Overall, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, synthetic latex rubber exports rose modestly to $X in 2023. Over the period under review, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure in 2023 and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia was the key exporter of synthetic latex rubber in MENA, with the volume of exports recording X tons, which was near X% of total exports in 2023. Iran (X tons) held the second position in the ranking, distantly followed by the United Arab Emirates (X tons) and Turkey (X tons). All these countries together took near X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to synthetic latex rubber exports from Saudi Arabia stood at X%. At the same time, Iran (X%), Turkey (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Saudi Arabia and Iran increased by X and X percentage points, respectively.

In value terms, Saudi Arabia ($X) remains the largest synthetic latex rubber supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Iran ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Saudi Arabia, synthetic latex rubber exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (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 2023, shrinking by X% against the previous year. Over the period under review, the export price saw a noticeable downturn. The growth pace was the most rapid in 2022 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, 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 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the export price figures.

Synthetic Latex Rubber Imports

Imports in MENA

In 2023, the amount of synthetic latex rubber imported in MENA stood at X tons, growing by X% on 2022 figures. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, synthetic latex rubber imports declined to $X in 2023. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Turkey represented the major importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by the United Arab Emirates (X tons) and Egypt (X tons), together achieving a X% share of total imports. Jordan (X tons), Saudi Arabia (X tons), Iran (X tons), Algeria (X tons), Kuwait (X tons), Libya (X tons) and Morocco (X tons) held a relatively small share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Morocco (X%), Jordan (X%), Kuwait (X%), Egypt (X%) and Algeria (X%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. The United Arab Emirates, Iran and Saudi Arabia experienced a relatively flat trend pattern. By contrast, Libya (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Turkey increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey amounted to X%. In the other countries, the average annual rates were as follows: Egypt (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price saw a noticeable curtailment. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform