ASEAN: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in ASEAN

The ASEAN vulcanised rubber thread market rose rapidly to $X in 2021, increasing by 6.1% against the previous year. Overall, consumption saw a drastic downturn. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Vulcanised Rubber Thread Production in ASEAN

In value terms, vulcanised rubber thread production declined to $X in 2021 estimated in export price. Overall, production, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2017 when the production volume increased by 25% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Vulcanised Rubber Thread Exports

Exports in ASEAN

In 2021, exports of vulcanised rubber thread and cord in ASEAN soared to X tons, growing by 15% against 2020. The total export volume increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, vulcanised rubber thread exports soared to $X in 2021. Total exports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +41.4% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Thailand (X tons) was the key exporter of vulcanised rubber thread and cord, achieving 67% of total exports. It was distantly followed by Malaysia (X tons), committing a 30% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to vulcanised rubber thread exports from Thailand stood at +4.8%. At the same time, Vietnam (+26.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +26.2% from 2012-2021. Malaysia experienced a relatively flat trend pattern. Thailand (+7.9 p.p.) and Vietnam (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -8.9% from 2012 to 2021, respectively.

In value terms, Thailand ($X) remains the largest vulcanised rubber thread supplier in ASEAN, comprising 67% of total exports. The second position in the ranking was held by Malaysia ($X), with a 30% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Thailand stood at +2.6%. In the other countries, the average annual rates were as follows: Malaysia (-0.8% per year) and Vietnam (+21.5% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, with an increase of 29% against the previous year. Over the period under review, the export price, however, showed a slight decrease. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-1.2%), while the other leaders experienced a decline in the export price figures.

Vulcanised Rubber Thread Imports

Imports in ASEAN

Vulcanised rubber thread imports expanded notably to X tons in 2021, with an increase of 9.6% on the previous year's figure. Over the period under review, imports, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2013 when imports increased by 69% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, vulcanised rubber thread imports surged to $X in 2021. In general, imports, however, recorded a pronounced contraction. The growth pace was the most rapid in 2013 with an increase of 64% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Indonesia was the major importing country with an import of about X tons, which recorded 50% of total imports. It was distantly followed by Vietnam (X tons) and Malaysia (X tons), together constituting a 41% share of total imports. The Philippines (X tons), Lao People's Democratic Republic (X tons) and Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +58.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber thread importing markets in ASEAN were Indonesia ($X), Vietnam ($X) and Malaysia ($X), with a combined 93% share of total imports. These countries were followed by the Philippines, Cambodia and Lao People's Democratic Republic, which together accounted for a further 5.8%.

Among the main importing countries, Lao People's Democratic Republic, with a CAGR of +34.4%, 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

In 2021, the import price in ASEAN amounted to $X per ton, growing by 27% against the previous year. In general, the import price showed a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2017; afterwards, it flattened through to 2021.

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 Vietnam ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform