Colombia: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Colombia

The Colombian vulcanised rubber seal market expanded sharply to $X in 2022, with an increase of 5.1% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Vulcanised rubber seal consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Vulcanised Rubber Seal Production in Colombia

In value terms, vulcanised rubber seal production rose rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 23% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Vulcanised Rubber Seal Exports

Exports from Colombia

In 2022, approx. X tons of seals of vulcanised rubber were exported from Colombia; falling by -9.8% compared with 2021. Over the period under review, exports continue to indicate a slight shrinkage. The growth pace was the most rapid in 2021 when exports increased by 27% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, vulcanised rubber seal exports shrank to $X in 2022. In general, exports showed a noticeable reduction. The most prominent rate of growth was recorded in 2021 with an increase of 22%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), the Dominican Republic (X tons) and Ecuador (X tons) were the main destinations of vulcanised rubber seal exports from Colombia, with a combined 68% share of total exports. Canada, Mexico, Peru, Haiti, Panama, Costa Rica and Venezuela lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Haiti (with a CAGR of +58.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for seals of vulcanised rubber exports from Colombia, comprising 37% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 14% share of total exports. It was followed by Mexico, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-12.8% per year) and Mexico (+4.1% per year).

Export Prices by Country

In 2022, the average vulcanised rubber seal export price amounted to $X per ton, flattening at the previous year. In general, the export price, however, saw a mild slump. The most prominent rate of growth was recorded in 2017 an increase of 5.5%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to the Dominican Republic ($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 Costa Rica (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Colombia

In 2022, supplies from abroad of seals of vulcanised rubber decreased by -8.1% to X tons, falling for the fourth year in a row after three years of growth. In general, total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -41.7% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 37% against the previous year. 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. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 31%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Costa Rica (X tons), China (X tons) and the United States (X tons) were the main suppliers of vulcanised rubber seal imports to Colombia, together comprising 42% of total imports. Italy, Brazil, Romania, Spain, Mexico, India, Japan, South Korea and Germany lagged somewhat behind, together accounting for a further 48%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +43.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of seals of vulcanised rubber to Colombia, comprising 33% of total imports. The second position in the ranking was held by China ($X), with an 8.2% share of total imports. It was followed by Italy, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.9% per year) and Italy (+10.3% per year).

Import Prices by Country

In 2022, the average vulcanised rubber seal import price amounted to $X per ton, which is down by -4.1% against the previous year. Overall, the import price showed a mild contraction. The most prominent rate of growth was recorded in 2021 an increase of 35% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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