Canada: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Canada

The Canadian vulcanised rubber seal market reduced to $X in 2022, dropping by -6.2% against the previous year. Overall, the total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -23.9% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Vulcanised Rubber Seal Production in Canada

In value terms, vulcanised rubber seal production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, showed a measured expansion. The most prominent rate of growth was recorded in 2018 with an increase of 47% against the previous year. Vulcanised rubber seal production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Vulcanised Rubber Seal Exports

Exports from Canada

In 2022, shipments abroad of seals of vulcanised rubber increased by 18% to X tons, rising for the second consecutive year after six years of decline. Over the period under review, exports, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2021 when exports increased by 85% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, vulcanised rubber seal exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a mild curtailment. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for vulcanised rubber seal exports from Canada, accounting for a 84% share of total exports. It was followed by Mexico (X tons), with a 2.7% share of total exports. China (X tons) ranked third in terms of total exports with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to -1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-11.0% per year) and China (+0.4% per year).

In value terms, the United States ($X) remains the key foreign market for seals of vulcanised rubber exports from Canada, comprising 83% of total exports. The second position in the ranking was taken by Mexico ($X), with a 2.7% share of total exports. It was followed by China, with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-10.3% per year) and China (+1.2% per year).

Export Prices by Country

The average vulcanised rubber seal export price stood at $X per ton in 2022, remaining constant against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 8.9% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to South Korea ($X per ton) and Mexico ($X per ton), while the average price for exports to China ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+0.7%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Canada

In 2022, after three years of decline, there was significant growth in purchases abroad of seals of vulcanised rubber, when their volume increased by 5.2% to X tons. Over the period under review, imports, however, continue to indicate a pronounced reduction. The pace of growth was the most pronounced in 2014 with an increase of 8.1%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, vulcanised rubber seal imports skyrocketed to $X in 2022. In general, imports saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of vulcanised rubber seal to Canada, accounting for a 53% share of total imports. Moreover, vulcanised rubber seal imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fivefold. China (X tons) ranked third in terms of total imports with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to -5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+4.6% per year) and China (+3.4% per year).

In value terms, the United States ($X) constituted the largest supplier of seals of vulcanised rubber to Canada, comprising 53% of total imports. The second position in the ranking was held by Mexico ($X), with an 11% share of total imports. It was followed by China, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+8.2% per year) and China (+6.9% per year).

Import Prices by Country

The average vulcanised rubber seal import price stood at $X per ton in 2022, with an increase of 12% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($X per ton) and the United States ($X per ton), while the price for Italy ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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