Croatia: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Croatia

In 2022, the Croatian vulcanised rubber seal market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, showed a mild curtailment. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Vulcanised Rubber Seal Production in Croatia

In value terms, vulcanised rubber seal production contracted to $X in 2022 estimated in export price. Over the period under review, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +10.0% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 28%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Vulcanised Rubber Seal Exports

Exports from Croatia

Vulcanised rubber seal exports from Croatia shrank markedly to X tons in 2022, reducing by -18.3% on the previous year's figure. In general, exports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of 66% against the previous year. The exports peaked at X tons in 2021, and then shrank remarkably in the following year.

In value terms, vulcanised rubber seal exports fell to $X in 2022. Overall, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 73% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for vulcanised rubber seal exports from Croatia, accounting for a 74% share of total exports. Moreover, vulcanised rubber seal exports to Germany exceeded the volume sent to the second major destination, Romania (X tons), more than tenfold. The third position in this ranking was held by the United States (X tons), with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled +14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+86.1% per year) and the United States (+54.6% per year).

In value terms, Germany ($X) remains the key foreign market for seals of vulcanised rubber exports from Croatia, comprising 63% of total exports. The second position in the ranking was held by Romania ($X), with an 8.5% share of total exports. It was followed by the United States, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+93.7% per year) and the United States (+28.4% per year).

Export Prices by Country

The average vulcanised rubber seal export price stood at $X per ton in 2022, with an increase of 4.1% against the previous year. In general, the export price saw a slight increase. The growth pace was the most rapid in 2013 an increase of 10%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to the Czech Republic ($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 Austria (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Croatia

After two years of growth, overseas purchases of seals of vulcanised rubber decreased by -32% to X tons in 2022. Over the period under review, total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +3.2% 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 2021 when imports increased by 47%. As a result, imports attained the peak of X tons, and then reduced dramatically in the following year.

In value terms, vulcanised rubber seal imports dropped slightly to $X in 2022. Overall, total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.5% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of 32%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

Germany (X tons), Italy (X tons) and Bosnia and Herzegovina (X tons) were the main suppliers of vulcanised rubber seal imports to Croatia, with a combined 44% share of total imports. France, Serbia, Austria, Hungary, Slovenia, Sweden, China, Poland, Turkey and Belgium lagged somewhat behind, together comprising a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +32.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and France ($X) constituted the largest vulcanised rubber seal suppliers to Croatia, together accounting for 48% of total imports. Austria, Sweden, Slovenia, Hungary, Belgium, Bosnia and Herzegovina, Serbia, China, Poland and Turkey lagged somewhat behind, together comprising a further 38%.

Hungary, with a CAGR of +33.1%, saw 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

In 2022, the average vulcanised rubber seal import price amounted to $X per ton, surging by 46% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Sweden ($X per ton), while the price for Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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