Azerbaijan: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in Azerbaijan

The Azerbaijani extruded solid rubber rod market contracted sharply to $X in 2022, dropping by -26.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from Azerbaijan

In 2022, shipments abroad of extruded solid rubber rods and profiles decreased by 0% to X kg, falling for the second year in a row after two years of growth. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 290,350% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, extruded solid rubber rod exports totaled $X in 2022. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 14,900%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Georgia (X kg), Kyrgyzstan (X kg) and Ukraine (X kg) were the main destinations of extruded solid rubber rod exports from Azerbaijan, with a combined 98% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Georgia (with a CAGR of +406.6%), while the other leaders experienced more modest paces of growth.

It was followed by the UK, with a 20% share.

From 2012 to 2022, the average annual growth rate of value to Georgia amounted to +673.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (0.0% per year) and the UK (-56.3% per year).

Export Prices by Country

The average extruded solid rubber rod export price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period under review, the export price faced a abrupt decline. The pace of growth appeared the most rapid in 2014 an increase of 577%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+164.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into Azerbaijan

In 2022, imports of extruded solid rubber rods and profiles into Azerbaijan declined rapidly to X tons, with a decrease of -16.4% compared with the previous year's figure. Over the period under review, imports showed a perceptible decline. The pace of growth was the most pronounced in 2016 when imports increased by 233% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, extruded solid rubber rod imports contracted markedly to $X in 2022. Overall, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 208%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) constituted the largest extruded solid rubber rod supplier to Azerbaijan, accounting for a 84% share of total imports. Moreover, extruded solid rubber rod imports from Turkey exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The third position in this ranking was taken by Germany (X tons), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey amounted to -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+23.5% per year) and Germany (+18.1% per year).

In value terms, Turkey ($X) constituted the largest supplier of extruded solid rubber rods and profiles to Azerbaijan, comprising 77% of total imports. The second position in the ranking was held by Germany ($X), with a 10% share of total imports. It was followed by India, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.1% per year) and India (+16.5% per year).

Import Prices by Country

The average extruded solid rubber rod import price stood at $X per ton in 2022, dropping by -19.6% against the previous year. In general, the import price, however, saw a buoyant increase. The pace of growth was the most pronounced in 2013 an increase of 130%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then dropped significantly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+21.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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