GCC: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in GCC

The GCC vulcanised rubber seal market was finally on the rise to reach $X in 2023, after two years of decline. The market value 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 throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Vulcanised Rubber Seal Production in GCC

In value terms, vulcanised rubber seal production reduced modestly to $X in 2023 estimated in export price. The total production indicated tangible growth from 2012 to 2023: its value 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2023, production growth remained at a somewhat lower figure.

Vulcanised Rubber Seal Exports

Exports in GCC

In 2023, shipments abroad of seals of vulcanised rubber decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports saw a noticeable decline. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, vulcanised rubber seal exports rose sharply to $X in 2023. Overall, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, the United Arab Emirates (X tons) represented the main exporter of seals of vulcanised rubber, creating X% of total exports. Bahrain (X tons) ranks second in terms of the total exports with an X% share, followed by Oman (X%) and Saudi Arabia (X%).

From 2012 to 2023, average annual rates of growth with regard to vulcanised rubber seal exports from the United Arab Emirates stood at X%. At the same time, Oman (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Bahrain and Oman increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest vulcanised rubber seal supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Bahrain ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, picking up by X% against the previous year. Overall, the export price enjoyed a strong increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Saudi Arabia ($X per ton), while Oman ($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 more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports in GCC

In 2023, the amount of seals of vulcanised rubber imported in GCC surged to X tons, increasing by X% against 2022. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, vulcanised rubber seal imports soared to $X in 2023. Total imports indicated a pronounced expansion 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, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, the United Arab Emirates (X tons) and Saudi Arabia (X tons) represented the largest importers of seals of vulcanised rubber in GCC, together reaching near X% of total imports. Qatar (X tons) ranks next in terms of the total imports with a X% share, followed by Kuwait (X%) and Oman (X%). Bahrain (X tons) held a little share of total imports.

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

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported seals of vulcanised rubber in GCC, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Qatar (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, which is down by X% against the previous year. Import price indicated perceptible growth from 2012 to 2023: its price 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, vulcanised rubber seal import price increased by X% against 2021 indices. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then fell notably in the following year.

Prices varied noticeably by country of destination: amid the top importers, 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 Oman (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform