MENA: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in MENA

In 2023, the MENA's market for isoprene rubber (IR) in primary forms decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a pronounced decline. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Production of Isoprene Rubber (IR) in Primary Forms in MENA

In value terms, production of isoprene rubber (IR) in primary forms reduced remarkably to $X in 2023 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X, and then contracted dramatically in the following year.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports in MENA

For the third consecutive year, MENA recorded growth in shipments abroad of isoprene rubber (IR) in primary forms, which increased by X% to X tons in 2023. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports of attained the peak figure in 2023 and are expected to retain growth in the near future.

In value terms, exports of isoprene rubber (IR) in primary forms surged to $X in 2023. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, the exports of attained the maximum in 2023 and are likely to see gradual growth in the near future.

Exports by Country

Turkey was the major exporting country with an export of around X tons, which reached X% of total exports. It was distantly followed by Saudi Arabia (X tons) and the United Arab Emirates (X tons), together constituting a X% share of total exports.

Turkey was also the fastest-growing in terms of the isoprene rubber (IR) in primary forms exports, with a CAGR of X% from 2012 to 2023. At the same time, Saudi Arabia (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Turkey ($X) remains the largest isoprene rubber (IR) in primary form supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Turkey stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (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, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced downturn. The growth pace was the most rapid in 2022 an increase of X%. 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.

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 ($X per ton), while Saudi Arabia ($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 a decline in the export price figures.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports in MENA

In 2023, purchases abroad of isoprene rubber (IR) in primary forms decreased by X% to X tons, falling for the second year in a row after two years of growth. Total imports indicated a temperate expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports of remained at a lower figure.

In value terms, imports of isoprene rubber (IR) in primary forms shrank notably to $X in 2023. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2022, and then dropped notably in the following year.

Imports by Country

Turkey was the major importer of isoprene rubber (IR) in primary forms in MENA, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. Jordan (X tons) ranks second in terms of the total imports with a X% share, followed by Egypt (X%). The following importers - Iran (X tons) and the United Arab Emirates (X tons) - each recorded a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to isoprene rubber (IR) in primary form imports into Turkey stood at X%. At the same time, Jordan (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Iran (X%) and Egypt (X%) illustrated a downward trend over the same period. Turkey (X p.p.) and Jordan (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates, Iran and Egypt saw its share reduced by X%, X% and X% from 2012 to 2023, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported isoprene rubber (IR) in primary forms in MENA, comprising X% of total imports. The second position in the ranking was held by Egypt ($X), with a X% share of total imports. It was followed by Jordan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (X% per year) and Jordan (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 showed a noticeable decline. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Egypt ($X per ton), while Jordan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform