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

Market Size for Isoprene Rubber (IR) in Primary Forms in Saudi Arabia

The Saudi market for isoprene rubber (IR) in primary forms fell significantly to $X in 2023, dropping by X% against the previous year. Over the period under review, consumption recorded a pronounced setback. Consumption of peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Production of Isoprene Rubber (IR) in Primary Forms in Saudi Arabia

In value terms, production of isoprene rubber (IR) in primary forms fell sharply to $X in 2023 estimated in export price. In general, the total production indicated modest growth from 2012 to 2023: its value 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, production reached the peak level of $X, and then contracted dramatically in the following year.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports from Saudi Arabia

In 2023, approx. X tons of isoprene rubber (IR) in primary forms were exported from Saudi Arabia; jumping by X% compared with the previous year's figure. Overall, exports continue to indicate strong growth. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, exports of isoprene rubber (IR) in primary forms shrank to $X in 2023. Over the period under review, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

Exports by Country

Jordan (X tons) was the main destination for exports of isoprene rubber (IR) in primary forms from Saudi Arabia, with a X% share of total exports. Moreover, exports of isoprene rubber (IR) in primary forms to Jordan exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold. South Africa (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Jordan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and South Africa (X% per year).

In value terms, Jordan ($X) remains the key foreign market for isoprene rubber (IR) in primary forms exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by South Africa ($X), with a X% share of total exports. 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 to Jordan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the average export price for isoprene rubber (IR) in primary forms amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then shrank dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports into Saudi Arabia

Imports of isoprene rubber (IR) in primary forms into Saudi Arabia soared to X tons in 2023, picking up by X% against the previous year's figure. Overall, imports posted resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, imports of isoprene rubber (IR) in primary forms surged to $X in 2023. In general, imports recorded a significant expansion. Imports peaked at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Germany (X tons) constituted the largest isoprene rubber (IR) in primary form supplier to Saudi Arabia, accounting for a X% share of total imports. Moreover, imports of isoprene rubber (IR) in primary forms from Germany exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the United Arab Emirates (X% per year).

In value terms, Germany ($X), Japan ($X) and the United Arab Emirates ($X) were the largest isoprene rubber (IR) in primary form suppliers to Saudi Arabia, with a combined X% share of total imports.

Among the main suppliers, Japan, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for isoprene rubber (IR) in primary forms stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period under review, import price indicated perceptible growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, import price for isoprene rubber (IR) in primary forms decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform