China: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in China

The Chinese vulcanised rubber seal market stood at $X in 2022, approximately mirroring the previous year. Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 -4.4% against 2020 indices. Vulcanised rubber seal consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Vulcanised Rubber Seal Production in China

In value terms, vulcanised rubber seal production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 16% against the previous year. Vulcanised rubber seal production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Vulcanised Rubber Seal Exports

Exports from China

In 2022, shipments abroad of seals of vulcanised rubber increased by 4.4% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 28% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, vulcanised rubber seal exports rose rapidly to $X in 2022. Over the period under review, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for vulcanised rubber seal exports from China, accounting for a 22% share of total exports. Moreover, vulcanised rubber seal exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), threefold. The third position in this ranking was taken by Vietnam (X tons), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+0.9% per year) and Vietnam (+15.3% per year).

In value terms, the United States ($X) remains the key foreign market for seals of vulcanised rubber exports from China, comprising 21% of total exports. The second position in the ranking was taken by Japan ($X), with an 8.4% share of total exports. It was followed by Germany, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.6% per year) and Germany (+10.2% per year).

Export Prices by Country

The average vulcanised rubber seal export price stood at $X per ton in 2022, picking up by 7.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Turkey ($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 India (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into China

In 2022, imports of seals of vulcanised rubber into China contracted markedly to X tons, declining by -15.5% compared with 2021. Over the period under review, imports saw a slight decrease. The growth pace was the most rapid in 2014 with an increase of 8.8%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, vulcanised rubber seal imports declined to $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of 17% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

Germany (X tons), Japan (X tons) and South Korea (X tons) were the main suppliers of vulcanised rubber seal imports to China, with a combined 39% share of total imports. Poland, Italy, France, Malaysia, the United States, Vietnam, Thailand, Mexico, India and Belgium lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +20.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber seal suppliers to China were Japan ($X), Germany ($X) and the United States ($X), with a combined 49% share of total imports. Italy, France, South Korea, Mexico, Poland, Vietnam, Malaysia, Belgium, Thailand and India lagged somewhat behind, together accounting for a further 28%.

Among the main suppliers, Vietnam, with a CAGR of +23.2%, recorded the highest rates of growth with regard to the value of imports, 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, surging by 4.1% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2021 an increase of 9.5% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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