ASEAN: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in ASEAN

The ASEAN extruded solid rubber rod market contracted to $X in 2022, waning by -1.8% against the previous year. Over the period under review, consumption showed a perceptible downturn. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Extruded Solid Rubber Rods And Profiles in ASEAN

In value terms, extruded solid rubber rod production reduced modestly to $X in 2022 estimated in export price. In general, production recorded a pronounced reduction. The most prominent rate of growth was recorded in 2018 with an increase of 10% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Extruded Solid Rubber Rods And Profiles

Exports in ASEAN

In 2022, approx. X tons of extruded solid rubber rods and profiles were exported in ASEAN; waning by -8.2% on the year before. In general, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 22%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, extruded solid rubber rod exports declined to $X in 2022. Overall, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 24%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Malaysia (X tons) was the largest exporter of extruded solid rubber rods and profiles, making up 49% of total exports. Thailand (X tons) ranks second in terms of the total exports with a 28% share, followed by Vietnam (8.4%), the Philippines (7.4%) and Singapore (7%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Philippines (with a CAGR of +64.6%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Malaysia ($X) remains the largest extruded solid rubber rod supplier in ASEAN, comprising 40% of total exports. The second position in the ranking was held by Thailand ($X), with an 18% share of total exports. It was followed by the Philippines, with a 16% share.

In Malaysia, extruded solid rubber rod exports contracted by an average annual rate of -9.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-12.6% per year) and the Philippines (+59.8% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, falling by -6.3% against the previous year. Export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 an increase of 35% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+12.3%), while the other leaders experienced mixed trends in the export price figures.

Imports of Extruded Solid Rubber Rods And Profiles

Imports in ASEAN

In 2022, approx. X tons of extruded solid rubber rods and profiles were imported in ASEAN; declining by -8.6% compared with 2021 figures. In general, imports, however, posted a measured expansion. The pace of growth was the most pronounced in 2017 when imports increased by 98% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, extruded solid rubber rod imports shrank to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 85% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Vietnam represented the major importing country with an import of about X tons, which reached 52% of total imports. Thailand (X tons) held the second position in the ranking, followed by Malaysia (X tons), the Philippines (X tons) and Indonesia (X tons). All these countries together held approx. 40% share of total imports. The following importers - Singapore (X tons) and Myanmar (X tons) - each accounted for a 6.1% share of total imports.

Imports into Vietnam increased at an average annual rate of +14.4% from 2012 to 2022. At the same time, Myanmar (+42.3%), the Philippines (+2.0%) and Malaysia (+1.6%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +42.3% from 2012-2022. By contrast, Thailand (-1.1%), Indonesia (-6.1%) and Singapore (-16.9%) illustrated a downward trend over the same period. While the share of Vietnam (+35 p.p.) and Myanmar (+2.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (-4.8 p.p.), Indonesia (-10.3 p.p.) and Singapore (-23.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported extruded solid rubber rods and profiles in ASEAN, comprising 55% of total imports. The second position in the ranking was held by Indonesia ($X), with a 13% share of total imports. It was followed by Thailand, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam amounted to +11.2%. In the other countries, the average annual rates were as follows: Indonesia (-2.9% per year) and Thailand (-10.4% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, flattening at the previous year. Over the period under review, the import price, however, recorded a mild shrinkage. The pace of growth was the most pronounced in 2018 an increase of 26%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+14.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform