Middle East: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in the Middle East

The Middle Eastern synthetic latex rubber market declined to $X in 2023, therefore, remained relatively stable against the previous year. In general, consumption, however, saw a mild reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Synthetic Latex Rubber Production in the Middle East

In value terms, synthetic latex rubber production rose to $X in 2023 estimated in export price. Over the period under review, production saw a strong expansion. The growth pace was the most rapid in 2016 when the production volume increased by 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 the Middle East

Synthetic latex rubber exports skyrocketed to X tons in 2023, jumping by X% compared with the previous year's figure. In general, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, synthetic latex rubber exports expanded modestly to $X in 2023. Overall, exports showed strong growth. The growth pace was the most rapid in 2021 with an increase of X%. The level of export peaked in 2023 and is expected to retain growth in the near future.

Exports by Country

Saudi Arabia was the largest exporting country with an export of about X tons, which reached X% of total exports. 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 approx. 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 the Middle East, with a CAGR of X% from 2012-2023. Saudi Arabia (X p.p.) and Iran (X p.p.) significantly strengthened its position in terms of the total exports, while Turkey and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Saudi Arabia ($X) remains the largest synthetic latex rubber supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Iran ($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. In the other countries, the average annual rates were as follows: Iran (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the export price recorded a slight contraction. The pace of growth was the most pronounced in 2022 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 2023, the export prices failed to regain momentum.

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 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 the Middle East

Synthetic latex rubber imports skyrocketed to X tons in 2023, with an increase of X% compared with the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the maximum at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, synthetic latex rubber imports reached $X in 2023. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced 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 remained at a somewhat lower figure.

Imports by Country

Turkey was the largest importing country with an import of around X tons, which recorded X% of total imports. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total imports. Jordan (X tons), Saudi Arabia (X tons), Iran (X tons) and Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to synthetic latex rubber imports into Turkey stood at X%. At the same time, Jordan (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. The United Arab Emirates, Iran and Saudi Arabia experienced a relatively flat trend pattern. While the share of Turkey (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Iran (X p.p.), Saudi Arabia (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Turkey, synthetic latex rubber imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the import price recorded a perceptible setback. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a 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