Asia: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Asia

The Asian vulcanised rubber seal market shrank slightly to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +2.8% over the period 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

In value terms, vulcanised rubber seal production reduced modestly to $X in 2022 estimated in export price. The total production indicated a temperate increase from 2012 to 2022: its value 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. Based on 2022 figures, production increased by +2.2% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 24% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Vulcanised Rubber Seal Exports

Exports in Asia

In 2022, the amount of seals of vulcanised rubber exported in Asia reduced to X tons, therefore, remained relatively stable against 2021 figures. The total export volume increased at an average annual rate of +3.1% over the period 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 25% against the previous year. As a result, the exports reached the peak of X tons, leveling off in the following year.

In value terms, vulcanised rubber seal exports shrank slightly to $X in 2022. The total export value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 29% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

China prevails in exports structure, recording X tons, which was near 50% of total exports in 2022. India (X tons) took the second position in the ranking, followed by South Korea (X tons), Vietnam (X tons), Thailand (X tons), Japan (X tons), Turkey (X tons) and Taiwan (Chinese) (X tons). All these countries together held near 41% share of total exports.

Exports from China increased at an average annual rate of +4.5% from 2012 to 2022. At the same time, Thailand (+8.4%), Vietnam (+8.1%), India (+5.4%), Taiwan (Chinese) (+4.4%) and Turkey (+3.8%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, 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. China (+6.6 p.p.), Vietnam (+2.3 p.p.), Thailand (+2.1 p.p.) and India (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Japan and South Korea saw its share reduced by -2.6% and -10.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest vulcanised rubber seal supplier in Asia, comprising 38% of total exports. The second position in the ranking was taken by Japan ($X), with an 18% share of total exports. It was followed by Vietnam, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms 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 amounted to $X per ton, stabilizing at the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 3.3% 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.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Turkey ($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

In 2022, the amount of seals of vulcanised rubber imported in Asia dropped to X tons, declining by -5.9% on the year before. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 19% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, vulcanised rubber seal imports dropped slightly to $X in 2022. The total import value increased at an average annual rate of +3.4% over the period 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 imports increased by 20% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

China (X tons), India (X tons), Japan (X tons), Turkey (X tons), Indonesia (X tons), Malaysia (X tons), Vietnam (X tons), Saudi Arabia (X tons), Singapore (X tons), the Philippines (X tons), South Korea (X tons) and the United Arab Emirates (X tons) represented roughly 81% of total imports in 2022.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +15.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported seals of vulcanised rubber in Asia, comprising 32% of total imports. The second position in the ranking was taken by India ($X), with a 9.2% share of total imports. It was followed by Japan, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +2.2%. 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

In 2022, the import price in Asia amounted to $X per ton, with an increase of 1.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2013 an increase of 11% against the previous year. The level of import peaked at $X per ton in 2017; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: 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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