Belgium: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Belgium

After two years of growth, the Belgian vulcanised rubber seal market decreased by -25.2% to $X in 2022. Over the period under review, the total consumption indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Vulcanised rubber seal consumption peaked at $X in 2021, and then fell dramatically in the following year.

Vulcanised Rubber Seal Production in Belgium

In value terms, vulcanised rubber seal production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 15% against the previous year. Over the period under review, production attained the peak level at $X in 2021, and then fell in the following year.

Vulcanised Rubber Seal Exports

Exports from Belgium

In 2022, after two years of growth, there was significant decline in shipments abroad of seals of vulcanised rubber, when their volume decreased by -43.7% to X tons. Over the period under review, exports saw a noticeable curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 47% against the previous year. The exports peaked at X tons in 2021, and then shrank significantly in the following year.

In value terms, vulcanised rubber seal exports reduced rapidly to $X in 2022. Overall, exports continue to indicate a slight downturn. The pace of growth was the most pronounced in 2020 with an increase of 46% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

Germany (X tons), the Netherlands (X tons) and the UK (X tons) were the main destinations of vulcanised rubber seal exports from Belgium, with a combined 28% share of total exports. France, China, Turkey, Hong Kong SAR, Poland, Brazil, Italy, the Czech Republic, the United States and Romania lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +14.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and China ($X) constituted the largest markets for vulcanised rubber seal exported from Belgium worldwide, together comprising 29% of total exports.

China, with a CAGR of +7.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average vulcanised rubber seal export price amounted to $X per ton, picking up by 8.7% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Romania ($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 France (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Belgium

In 2022, after two years of growth, there was significant decline in supplies from abroad of seals of vulcanised rubber, when their volume decreased by -37% to X tons. Over the period under review, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 55% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then contracted sharply in the following year.

In value terms, vulcanised rubber seal imports declined significantly to $X in 2022. Overall, imports showed a noticeable setback. The pace of growth was the most pronounced in 2020 with an increase of 25%. Over the period under review, imports reached the peak figure at $X in 2021, and then fell rapidly in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest vulcanised rubber seal supplier to Belgium, with a 29% share of total imports. Moreover, vulcanised rubber seal imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. France (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+6.8% per year) and France (-2.6% per year).

In value terms, the largest vulcanised rubber seal suppliers to Belgium were Germany ($X), France ($X) and Poland ($X), with a combined 44% share of total imports. Italy, Japan, Spain, the United States, the Netherlands, Sweden, China, the UK and the Czech Republic lagged somewhat behind, together comprising a further 44%.

The Netherlands, with a CAGR of +3.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vulcanised rubber seal import price amounted to $X per ton, with an increase of 8.5% against the previous year. Over the period under review, the import price, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2019 when the average import price increased by 26%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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