Asia-Pacific: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in Asia-Pacific

The Asia-Pacific pharmaceutical rubber articles market dropped to $X in 2021, reducing by -7.2% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then fell in the following year.

Pharmaceutical Rubber Articles Production in Asia-Pacific

In value terms, pharmaceutical rubber articles production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the production volume increased by 17% against the previous year. As a result, production attained the peak level of $X, and then fell in the following year.

Pharmaceutical Rubber Articles Exports

Exports in Asia-Pacific

In 2021, the amount of hygienic or pharmaceutical articles of rubber exported in Asia-Pacific soared to X units, increasing by 15% compared with the previous year. Total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +9.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +129.9% against 2012 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 37%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, pharmaceutical rubber articles exports expanded remarkably to $X in 2021. The total export value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 11%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China prevails in exports structure, resulting at X units, which was approx. 80% of total exports in 2021. It was distantly followed by Malaysia (X units), achieving a 7.6% share of total exports. The following exporters - Singapore (X units), Taiwan (Chinese) (X units), Thailand (X units), India (X units) and South Korea (X units) - each amounted to a 9.2% share of total exports.

China was also the fastest-growing in terms of the hygienic or pharmaceutical articles of rubber exports, with a CAGR of +22.8% from 2012 to 2021. At the same time, India (+3.3%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. By contrast, South Korea (-4.9%), Thailand (-5.6%), Taiwan (Chinese) (-5.7%) and Singapore (-14.4%) illustrated a downward trend over the same period. China (+51 p.p.) significantly strengthened its position in terms of the total exports, while South Korea, Thailand, Taiwan (Chinese), Malaysia and Singapore saw its share reduced by -4%, -5.4%, -5.8%, -10.1% and -16.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest pharmaceutical rubber articles supplier in Asia-Pacific, comprising 57% of total exports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total exports. It was followed by Singapore, with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +19.2%. In the other countries, the average annual rates were as follows: Malaysia (+0.1% per year) and Singapore (-13.5% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per unit, declining by -7.7% against the previous year. Overall, the export price continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2015 when the export price increased by 3.9%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.9%), while the other leaders experienced more modest paces of growth.

Pharmaceutical Rubber Articles Imports

Imports in Asia-Pacific

Pharmaceutical rubber articles imports was estimated at X units in 2021, picking up by 8.4% compared with the year before. In general, imports saw a slight expansion. The pace of growth appeared the most rapid in 2019 with an increase of 13% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, pharmaceutical rubber articles imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +3.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 13%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, Indonesia (X units) and India (X units) represented the largest importers of hygienic or pharmaceutical articles of rubber in Asia-Pacific, together amounting to approx. 39% of total imports. Bangladesh (X units) ranks next in terms of the total imports with a 9.1% share, followed by Vietnam (6.8%), Japan (6%), Malaysia (5.9%), Thailand (5.2%), South Korea (4.9%) and Singapore (4.8%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +8.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), India ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 39% share of total imports. Vietnam, Singapore, Japan, Bangladesh, Malaysia and South Korea lagged somewhat behind, together accounting for a further 35%.

Vietnam, with a CAGR of +12.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, remaining stable against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2018 an increase of 14% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per unit), while Bangladesh ($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

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