Azerbaijan: Market for Vulcanised Cellular Rubber Articles For Technical Uses 2024

Market Size for Vulcanised Cellular Rubber Articles For Technical Uses in Azerbaijan

The Azerbaijani vulcanised cellular rubber articles market expanded markedly to $X in 2021, surging by 12% 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, however, continues to indicate a buoyant increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Exports of Vulcanised Cellular Rubber Articles For Technical Uses

Exports from Azerbaijan

In 2021, shipments abroad of vulcanised cellular rubber articles for technical uses increased by 1.4% to X kg, rising for the seventh consecutive year after two years of decline. Overall, exports recorded significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 500%. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, vulcanised cellular rubber articles exports soared to $X in 2021. In general, exports posted significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 938%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Georgia (X kg) was the main destination for vulcanised cellular rubber articles exports from Azerbaijan, with a 93% share of total exports. Moreover, vulcanised cellular rubber articles exports to Georgia exceeded the volume sent to the second major destination, Ukraine (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Georgia stood at +21.3%.

In value terms, Georgia ($X) remains the key foreign market for vulcanised cellular rubber articles for technical uses exports from Azerbaijan, comprising 96% of total exports. The second position in the ranking was held by Ukraine ($X), with a 0.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Georgia totaled +56.2%.

Export Prices by Country

The average vulcanised cellular rubber articles export price stood at $X per ton in 2021, picking up by 35% against the previous year. Over the period under review, the export price enjoyed a significant expansion. The most prominent rate of growth was recorded in 2018 an increase of 130%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Georgia ($X per ton), while the average price for exports to Ukraine totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+1,089.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Vulcanised Cellular Rubber Articles For Technical Uses

Imports into Azerbaijan

In 2021, purchases abroad of vulcanised cellular rubber articles for technical uses decreased by -2.4% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2013 with an increase of 170%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, vulcanised cellular rubber articles imports soared to $X in 2021. Over the period under review, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2016 when imports increased by 158% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X tons), China (X tons) and the United Arab Emirates (X tons) were the main suppliers of vulcanised cellular rubber articles imports to Azerbaijan, together comprising 95% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +118.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constituted the largest supplier of vulcanised cellular rubber articles for technical uses to Azerbaijan, comprising 53% of total imports. The second position in the ranking was taken by China ($X), with a 19% share of total imports. It was followed by the United Arab Emirates, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from Turkey totaled +23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.3% per year) and the United Arab Emirates (+77.8% per year).

Import Prices by Country

The average vulcanised cellular rubber articles import price stood at $X per ton in 2021, jumping by 24% against the previous year. Overall, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vulcanised cellular rubber articles import price decreased by -3.9% against 2019 indices. The growth pace was the most rapid in 2014 when the average import price increased by 39% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Turkey ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+11.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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