Eastern Asia: Vulcanised Rubber Erases Market 2024

Vulcanised Rubber Erases Market Size in Eastern Asia

The East Asian vulcanised rubber erases market rose sharply to $X in 2021, increasing by 8% against the previous year. Over the period under review, consumption posted a remarkable increase. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Vulcanised Rubber Erases Production in Eastern Asia

In value terms, vulcanised rubber erases production dropped slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 23% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Vulcanised Rubber Erases Exports

Exports in Eastern Asia

For the fourth year in a row, Eastern Asia recorded decline in overseas shipments of erasers of vulcanised rubber, which decreased by -9.2% to X tons in 2021. Overall, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 45%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, vulcanised rubber erases exports amounted to $X in 2021. Over the period under review, exports continue to indicate a mild reduction. The pace of growth was the most pronounced in 2015 when exports increased by 18% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China dominates exports structure, finishing at X tons, which was near 95% of total exports in 2021. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -6.1% from 2012 to 2021. Taiwan (Chinese) experienced a relatively flat trend pattern. While the share of Taiwan (Chinese) (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-2 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest vulcanised rubber erases supplier in Eastern Asia, comprising 91% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 5.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China amounted to -1.3%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 13% against the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vulcanised rubber erases export price increased by +25.2% against 2018 indices. The most prominent rate of growth was recorded in 2016 an increase of 28% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.1%).

Vulcanised Rubber Erases Imports

Imports in Eastern Asia

In 2021, supplies from abroad of erasers of vulcanised rubber increased by 2.8% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, saw a noticeable setback. The growth pace was the most rapid in 2016 with an increase of 17% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, vulcanised rubber erases imports surged to $X in 2021. Total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -16.0% against 2018 indices. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) and South Korea (X tons) represented the major importers of erasers of vulcanised rubber in Eastern Asia, together constituting 70% of total imports. Taiwan (Chinese) (X tons) held the next position in the ranking, followed by Democratic People's Republic of Korea (X tons) and Hong Kong SAR (X tons). All these countries together held approx. 26% share of total imports. Japan (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +12.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported erasers of vulcanised rubber in Eastern Asia, comprising 54% of total imports. The second position in the ranking was taken by South Korea ($X), with a 25% share of total imports. It was followed by Hong Kong SAR, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +10.7%. In the other countries, the average annual rates were as follows: South Korea (+3.8% per year) and Hong Kong SAR (+5.1% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, with an increase of 32% against the previous year. Import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the import price increased by 46%. The level of import peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+15.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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