Bangladesh: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in Bangladesh

The Bangladeshi pharmaceutical rubber articles market skyrocketed to $X in 2021, surging by 57% 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). Over the period under review, consumption enjoyed a resilient increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Pharmaceutical Rubber Articles Exports

Exports from Bangladesh

In 2021, the amount of hygienic or pharmaceutical articles of rubber exported from Bangladesh dropped significantly to X units, reducing by -31.8% compared with 2020. In general, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 1,277% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, pharmaceutical rubber articles exports shrank remarkably to $X in 2021. Overall, exports continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 1,810% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units), Saudi Arabia (X units) and Kuwait (X units) were the main destinations of pharmaceutical rubber articles exports from Bangladesh, with a combined 84% share of total exports. Bahrain and Denmark lagged somewhat behind, together comprising a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bahrain (with a CAGR of +67.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for hygienic or pharmaceutical articles of rubber exports from Bangladesh, comprising 56% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 23% share of total exports. It was followed by Bahrain, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to +21.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+27.4% per year) and Bahrain (+41.9% per year).

Export Prices by Country

The average pharmaceutical rubber articles export price stood at $X per unit in 2021, shrinking by -41.9% against the previous year. Overall, the export price saw a deep setback. The pace of growth appeared the most rapid in 2017 an increase of 79% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Kuwait ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+3.4%), while the prices for the other major destinations experienced a decline.

Pharmaceutical Rubber Articles Imports

Imports into Bangladesh

Pharmaceutical rubber articles imports into Bangladesh soared to X units in 2021, rising by 40% against the previous year's figure. Overall, imports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 76% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, pharmaceutical rubber articles imports soared to $X in 2021. In general, imports saw a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of pharmaceutical rubber articles to Bangladesh, accounting for a 63% share of total imports. Moreover, pharmaceutical rubber articles imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), sixfold. The third position in this ranking was held by India (X units), with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-0.6% per year) and India (-5.4% per year).

In value terms, the largest pharmaceutical rubber articles suppliers to Bangladesh were Singapore ($X), China ($X) and India ($X), with a combined 57% share of total imports. Belgium and Malaysia lagged somewhat behind, together accounting for a further 7.1%.

Malaysia, with a CAGR of +76.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average pharmaceutical rubber articles import price stood at $X per unit in 2021, rising by 23% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 58% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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