Asia-Pacific: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Asia-Pacific

In 2022, the Asia-Pacific vulcanised rubber seal market decreased by -0.3% to $X, falling for the fifth year in a row after two years of growth. The market value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Vulcanised Rubber Seal Production in Asia-Pacific

In value terms, vulcanised rubber seal production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 24% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Vulcanised Rubber Seal Exports

Exports in Asia-Pacific

In 2022, the amount of seals of vulcanised rubber exported in Asia-Pacific dropped slightly to X tons, approximately equating the previous year's figure. The total export volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 26%. As a result, the exports attained the peak of X tons, and then declined slightly in the following year.

In value terms, vulcanised rubber seal exports contracted to $X in 2022. The total export value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 29% against the previous year. As a result, the exports reached the peak of $X, and then dropped slightly in the following year.

Exports by Country

China dominates exports structure, amounting to X tons, which was near 54% of total exports in 2022. It was distantly followed by India (X tons), South Korea (X tons), Vietnam (X tons), Thailand (X tons), Japan (X tons) and Taiwan (Chinese) (X tons), together making up a 38% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to vulcanised rubber seal exports from China stood at +4.5%. At the same time, Thailand (+8.4%), Vietnam (+8.1%), India (+5.4%) and Taiwan (Chinese) (+4.4%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +8.4% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, South Korea (-6.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Vietnam, Thailand and India increased by +7.5, +2.5, +2.3 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest vulcanised rubber seal supplier in Asia-Pacific, comprising 39% of total exports. The second position in the ranking was held by Japan ($X), with a 19% share of total exports. It was followed by Vietnam, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +6.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-2.3% per year) and Vietnam (+11.5% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, stabilizing at the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 2.8%. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, 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 Japan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.4%), while the other leaders experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports in Asia-Pacific

In 2022, the amount of seals of vulcanised rubber imported in Asia-Pacific shrank to X tons, with a decrease of -7.9% compared with the year before. In general, imports showed a slight decline. The most prominent rate of growth was recorded in 2021 when imports increased by 20% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, vulcanised rubber seal imports fell modestly to $X in 2022. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 20%. As a result, imports attained the peak of $X, and then shrank slightly in the following year.

Imports by Country

In 2022, China (X tons), India (X tons) and Japan (X tons) represented the largest importer of seals of vulcanised rubber in Asia-Pacific, making up 48% of total import. It was distantly followed by Indonesia (X tons), Malaysia (X tons), Vietnam (X tons), Singapore (X tons) and the Philippines (X tons), together mixing up a 33% share of total imports. South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +15.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported seals of vulcanised rubber in Asia-Pacific, comprising 37% of total imports. The second position in the ranking was held by India ($X), with an 11% share of total imports. It was followed by Japan, with a 9.5% share.

In China, vulcanised rubber seal imports expanded at an average annual rate of +2.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+4.2% per year) and Japan (+0.3% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, picking up by 3.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.5%. The pace of growth was the most pronounced in 2013 when the import price increased by 13%. Over the period under review, import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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