MENA's Vulcanised Rubber Seals Market to Witness Gradual Growth with +3.2% CAGR - News and Statistics - IndexBox

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IndexBox has just published a new report: MENA - Seals Of Vulcanised Rubber - Market Analysis, Forecast, Size, Trends And Insights.

The article discusses the rising demand for vulcanised rubber seals in the MENA market, with projections indicating a steady upward consumption trend. By 2035, the market volume is predicted to reach 439K tons, while the market value is expected to grow to $5.1B. Market performance is forecasted to expand at a CAGR of +3.2% for volume and +3.1% for value from 2024 to 2035.

Driven by increasing demand for seals of vulcanised rubber in MENA, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.2% for the period from 2024 to 2035, which is projected to bring the market volume to 439K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.1% for the period from 2024 to 2035, which is projected to bring the market value to $5.1B (in nominal wholesale prices) by the end of 2035.

In 2024, vulcanised rubber seal consumption in MENA was estimated at 311K tons, standing approx. at the previous year. The total consumption indicated a strong expansion from 2013 to 2024: its volume increased at an average annual rate of +6.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -2.6% against 2022 indices. Over the period under review, consumption reached the maximum volume at 319K tons in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The size of the vulcanised rubber seal market in MENA declined to $3.6B in 2024, with a decrease of -8.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed a strong increase. As a result, consumption reached the peak level of $4.4B. From 2022 to 2024, the growth of the market remained at a lower figure.

Turkey (244K tons) constituted the country with the largest volume of vulcanised rubber seal consumption, comprising approx. 78% of total volume. Moreover, vulcanised rubber seal consumption in Turkey exceeded the figures recorded by the second-largest consumer, Morocco (22K tons), more than tenfold. Tunisia (9.8K tons) ranked third in terms of total consumption with a 3.1% share.

In Turkey, vulcanised rubber seal consumption expanded at an average annual rate of +8.6% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of consumption growth: Morocco (-0.1% per year) and Tunisia (+1.0% per year).

In value terms, Turkey ($2.7B) led the market, alone. The second position in the ranking was held by Morocco ($252M). It was followed by the United Arab Emirates.

In Turkey, the vulcanised rubber seal market expanded at an average annual rate of +11.2% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of market growth: Morocco (+2.4% per year) and the United Arab Emirates (+4.7% per year).

In 2024, the highest levels of vulcanised rubber seal per capita consumption was registered in Turkey (2.8 kg per person), followed by Lebanon (1 kg per person), the United Arab Emirates (1 kg per person) and Tunisia (0.8 kg per person), while the world average per capita consumption of vulcanised rubber seal was estimated at 0.5 kg per person.

From 2013 to 2024, the average annual rate of growth in terms of the vulcanised rubber seal per capita consumption in Turkey amounted to +7.4%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Lebanon (+1.2% per year) and the United Arab Emirates (-0.4% per year).

In 2024, the amount of seals of vulcanised rubber produced in MENA expanded slightly to 300K tons, rising by 2.1% compared with the year before. The total production indicated a buoyant expansion from 2013 to 2024: its volume increased at an average annual rate of +6.8% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -1.6% against 2022 indices. The growth pace was the most rapid in 2021 with an increase of 20% against the previous year. Over the period under review, production hit record highs at 305K tons in 2022; however, from 2023 to 2024, production failed to regain momentum.

In value terms, vulcanised rubber seal production shrank to $3.2B in 2024 estimated in export price. Overall, production enjoyed a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of 55% against the previous year. As a result, production reached the peak level of $4.1B. From 2022 to 2024, production growth remained at a somewhat lower figure.

Turkey (246K tons) constituted the country with the largest volume of vulcanised rubber seal production, accounting for 82% of total volume. Moreover, vulcanised rubber seal production in Turkey exceeded the figures recorded by the second-largest producer, Morocco (28K tons), ninefold. The third position in this ranking was held by Tunisia (9.4K tons), with a 3.1% share.

In Turkey, vulcanised rubber seal production increased at an average annual rate of +8.5% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Morocco (+2.9% per year) and Tunisia (+1.4% per year).

In 2024, overseas purchases of seals of vulcanised rubber decreased by -3.4% to 33K tons, falling for the second consecutive year after three years of growth. The total import volume increased at an average annual rate of +1.3% from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 15% against the previous year. The volume of import peaked at 35K tons in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

In value terms, vulcanised rubber seal imports reduced modestly to $874M in 2024. Total imports indicated resilient growth from 2013 to 2024: its value increased at an average annual rate of +6.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +84.7% against 2016 indices. The pace of growth appeared the most rapid in 2023 with an increase of 17%. As a result, imports reached the peak of $880M, leveling off in the following year.

In 2024, Turkey (10K tons), distantly followed by Saudi Arabia (6.1K tons), the United Arab Emirates (4.1K tons), Israel (1.8K tons) and Iraq (1.8K tons) represented the main importers of seals of vulcanised rubber, together making up 74% of total imports. Morocco (1.4K tons), Qatar (1K tons), Algeria (0.9K tons), Tunisia (0.9K tons) and Bahrain (0.8K tons) held a relatively small share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bahrain (with a CAGR of +10.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($245M), the United Arab Emirates ($152M) and Saudi Arabia ($146M) appeared to be the countries with the highest levels of imports in 2024, with a combined 62% share of total imports. Israel, Qatar, Tunisia, Morocco, Bahrain, Iraq and Algeria lagged somewhat behind, together comprising a further 23%.

Bahrain, with a CAGR of +14.4%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

The import price in MENA stood at $26,875 per ton in 2024, growing by 2.9% against the previous year. Import price indicated notable growth from 2013 to 2024: its price increased at an average annual rate of +4.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, vulcanised rubber seal import price increased by +36.8% against 2019 indices. The most prominent rate of growth was recorded in 2023 when the import price increased by 21% against the previous year. Over the period under review, import prices hit record highs in 2024 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($36,981 per ton), while Iraq ($9,962 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.3%), while the other leaders experienced more modest paces of growth.

In 2024, the amount of seals of vulcanised rubber exported in MENA rose markedly to 22K tons, increasing by 7.3% on 2023. Over the period under review, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 51% against the previous year. The volume of export peaked in 2024 and is expected to retain growth in years to come.

In value terms, vulcanised rubber seal exports amounted to $291M in 2024. In general, exports recorded a buoyant increase. The growth pace was the most rapid in 2017 with an increase of 74% against the previous year. The level of export peaked in 2024 and is likely to continue growth in years to come.

In 2024, Turkey (12K tons) represented the largest exporter of seals of vulcanised rubber, making up 54% of total exports. Morocco (7.3K tons) held a 34% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (7.4%). Tunisia (492 tons) followed a long way behind the leaders.

From 2013 to 2024, the biggest increases were recorded for Morocco (with a CAGR of +75.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber seal supplying countries in MENA were Turkey ($135M), Morocco ($100M) and the United Arab Emirates ($32M), with a combined 92% share of total exports.

Morocco, with a CAGR of +58.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

In 2024, the export price in MENA amounted to $13,360 per ton, stabilizing at the previous year. Export price indicated a noticeable expansion from 2013 to 2024: its price increased at an average annual rate of +4.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, vulcanised rubber seal export price increased by +20.6% against 2018 indices. The most prominent rate of growth was recorded in 2023 when the export price increased by 22%. As a result, the export price attained the peak level of $13,376 per ton, leveling off in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($19,743 per ton), while Turkey ($11,380 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the vulcanised rubber seal market in MENA. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Export

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles

The Largest Markets And Their Profiles