ASEAN: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in ASEAN

The ASEAN pharmaceutical rubber articles market amounted to $X in 2021, with an increase of 13% against the previous year. The market value increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Pharmaceutical Rubber Articles Production in ASEAN

In value terms, pharmaceutical rubber articles production rose significantly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by 11% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Pharmaceutical Rubber Articles Exports

Exports in ASEAN

After two years of growth, shipments abroad of hygienic or pharmaceutical articles of rubber decreased by -21.6% to X units in 2021. In general, exports showed a abrupt decline. The growth pace was the most rapid in 2020 with an increase of 6.4% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, pharmaceutical rubber articles exports declined remarkably to $X in 2021. Overall, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 7.6% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Malaysia represented the main exporter of hygienic or pharmaceutical articles of rubber in ASEAN, with the volume of exports finishing at X units, which was approx. 64% of total exports in 2021. Singapore (X units) ranks second in terms of the total exports with a 17% share, followed by Thailand (16%). Indonesia (X units) took a relatively small share of total exports.

Malaysia experienced a relatively flat trend pattern with regard to volume of exports of hygienic or pharmaceutical articles of rubber. Thailand (-5.6%), Indonesia (-13.9%) and Singapore (-14.4%) illustrated a downward trend over the same period. While the share of Malaysia (+26 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Indonesia (-3 p.p.) and Singapore (-23.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Singapore ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 96% share of total exports.

Malaysia, with a CAGR of +0.1%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, falling by -11.6% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the export price increased by 19%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+4.2%), while the other leaders experienced more modest paces of growth.

Pharmaceutical Rubber Articles Imports

Imports in ASEAN

In 2021, overseas purchases of hygienic or pharmaceutical articles of rubber increased by 6.2% to X units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 16%. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, pharmaceutical rubber articles imports surged to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +16.4% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Indonesia (X units) was the largest importer of hygienic or pharmaceutical articles of rubber, mixing up 47% of total imports. It was distantly followed by Vietnam (X units), Malaysia (X units), Thailand (X units), Singapore (X units) and the Philippines (X units), together achieving a 52% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to pharmaceutical rubber articles imports into Indonesia stood at +8.7%. At the same time, Vietnam (+8.9%) and Malaysia (+3.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +8.9% from 2012-2021. By contrast, Singapore (-4.4%), Thailand (-4.5%) and the Philippines (-9.1%) illustrated a downward trend over the same period. While the share of Indonesia (+19 p.p.) and Vietnam (+5.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-8.3 p.p.), Thailand (-9.2 p.p.) and the Philippines (-9.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), Thailand ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2021, with a combined 70% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +12.7%, saw the highest growth rate of 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

In 2021, the import price in ASEAN amounted to $X per unit, with an increase of 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. The pace of growth was the most pronounced in 2018 when the import price increased by 16% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+16.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform