GCC: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in GCC

The GCC vulcanised rubber thread market shrank remarkably to $X in 2023, which is down by X% against the previous year. Over the period under review, consumption saw a noticeable slump. The level of consumption peaked at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Vulcanised Rubber Thread Production in GCC

In value terms, vulcanised rubber thread production declined dramatically to $X in 2023 estimated in export price. In general, production, however, faced a abrupt decline. The pace of growth was the most pronounced in 2022 when the production volume increased by X%. The level of production peaked at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

Vulcanised Rubber Thread Exports

Exports in GCC

In 2023, vulcanised rubber thread exports in GCC declined rapidly to X tons, which is down by X% on 2022. Overall, exports, however, enjoyed moderate growth. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, vulcanised rubber thread exports reduced sharply to $X in 2023. Over the period under review, exports, however, posted modest growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) and Oman (X tons) prevails in exports structure, together comprising X% of total exports. Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Oman (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber thread supplying countries in GCC were the United Arab Emirates ($X), Oman ($X) and Bahrain ($X).

In terms of the main exporting countries, Oman, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, picking up by X% against the previous year. In general, the export price, however, recorded a noticeable setback. The growth pace was the most rapid in 2013 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2023, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Vulcanised Rubber Thread Imports

Imports in GCC

In 2023, after two years of growth, there was significant decline in overseas purchases of vulcanised rubber thread and cord, when their volume decreased by X% to X tons. Overall, imports recorded a pronounced setback. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2023, the growth of imports remained at a lower figure.

In value terms, vulcanised rubber thread imports contracted markedly to $X in 2023. Over the period under review, imports continue to indicate a mild decline. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, recording X tons, which was approx. X% of total imports in 2023. Kuwait (X tons) held a little share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the vulcanised rubber thread and cord imports, with a CAGR of X% from 2012 to 2023. Kuwait (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total imports, while Kuwait saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported vulcanised rubber thread and cord in GCC, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports.

In the United Arab Emirates, vulcanised rubber thread imports expanded at an average annual rate of X% over the period from 2012-2023.

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2023, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Source: IndexBox Platform