Australia and Oceania: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Exports

Exports in Australia and Oceania

In 2022, overseas shipments of seals of vulcanised rubber increased by 9.2% to X tons, rising for the third year in a row after two years of decline. Total exports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.8% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 45% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, vulcanised rubber seal exports skyrocketed to $X in 2022. Total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +54.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 32% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Australia dominates exports structure, accounting for X tons, which was approx. 93% of total exports in 2022. It was distantly followed by New Zealand (X tons), making up a 5.8% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to vulcanised rubber seal exports from Australia stood at +4.7%. At the same time, New Zealand (+5.8%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +5.8% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest vulcanised rubber seal supplier in Australia and Oceania, comprising 88% of total exports. The second position in the ranking was held by New Zealand ($X), with an 11% share of total exports.

In Australia, vulcanised rubber seal exports expanded at an average annual rate of +4.5% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, rising by 7.5% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 38% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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 New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (-0.2%).

Vulcanised Rubber Seal Imports

Imports in Australia and Oceania

In 2022, purchases abroad of seals of vulcanised rubber increased by 3.8% to X tons, rising for the second year in a row after eight years of decline. Over the period under review, imports, however, saw a abrupt contraction. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, vulcanised rubber seal imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia was the major importing country with an import of about X tons, which finished at 75% of total imports. It was distantly followed by New Zealand (X tons), comprising a 16% share of total imports. The following importers - Fiji (X tons), Papua New Guinea (X tons) and Marshall Islands (X tons) - together made up 7% of total imports.

From 2012 to 2022, average annual rates of growth with regard to vulcanised rubber seal imports into Australia stood at -17.8%. At the same time, Marshall Islands (+17.1%), New Zealand (+7.8%) and Fiji (+6.2%) displayed positive paces of growth. Moreover, Marshall Islands emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +17.1% from 2012-2022. By contrast, Papua New Guinea (-9.2%) illustrated a downward trend over the same period. New Zealand (+15 p.p.) and Fiji (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by -21.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported seals of vulcanised rubber in Australia and Oceania, comprising 77% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 17% share of total imports. It was followed by Papua New Guinea, with a 2% share.

In Australia, vulcanised rubber seal imports increased at an average annual rate of +1.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (+4.4% per year) and Papua New Guinea (-4.7% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, increasing by 9.5% against the previous year. Overall, the import price enjoyed a significant increase. The pace of growth was the most pronounced in 2018 when the import price increased by 82%. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual 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 New Zealand ($X per ton), while Fiji ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+24.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :