Eastern Asia: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in Eastern Asia

The East Asian extruded solid rubber rod market declined slightly to $X in 2022, approximately reflecting the previous year. In general, consumption saw a drastic downturn. The most prominent rate of growth was recorded in 2020 when the market value increased by 1.3%. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Extruded Solid Rubber Rods And Profiles in Eastern Asia

In value terms, extruded solid rubber rod production totaled $X in 2022 estimated in export price. Over the period under review, production recorded a deep slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by 2.4%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Extruded Solid Rubber Rods And Profiles

Exports in Eastern Asia

In 2022, shipments abroad of extruded solid rubber rods and profiles increased by 24% to X tons, rising for the fifth year in a row after five years of decline. Total exports indicated perceptible growth 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, exports increased by +106.9% against 2017 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, extruded solid rubber rod exports surged to $X in 2022. Total exports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.2% 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 +100.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 41% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

In 2022, China (X tons) was the major exporter of extruded solid rubber rods and profiles, creating 76% of total exports. South Korea (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (6.1%). Japan (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +8.8% from 2012 to 2022. At the same time, Hong Kong SAR (+51.6%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +51.6% from 2012-2022. By contrast, Taiwan (Chinese) (-4.9%), South Korea (-6.6%) and Japan (-11.2%) illustrated a downward trend over the same period. China (+34 p.p.) and Hong Kong SAR (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese), Japan and South Korea saw its share reduced by -6.8%, -9.2% and -19.8% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest extruded solid rubber rod supplier in Eastern Asia, comprising 74% of total exports. The second position in the ranking was held by South Korea ($X), with an 8.5% share of total exports. It was followed by Taiwan (Chinese), with an 8% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +14.0%. In the other countries, the average annual rates were as follows: South Korea (-7.6% per year) and Taiwan (Chinese) (-4.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, with an increase of 8.3% against the previous year. Overall, the export price, however, showed a slight setback. The growth pace was the most rapid in 2021 when the export price increased by 11%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.2%), while the other leaders experienced more modest paces of growth.

Imports of Extruded Solid Rubber Rods And Profiles

Imports in Eastern Asia

In 2022, the amount of extruded solid rubber rods and profiles imported in Eastern Asia dropped dramatically to X tons, waning by -17.9% compared with 2021. Over the period under review, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2014 with an increase of 22%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, extruded solid rubber rod imports dropped to $X in 2022. In general, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 23%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China represented the key importing country with an import of about X tons, which recorded 44% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 28% share, followed by Japan (22%) and Taiwan (Chinese) (5.6%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Japan (with a CAGR of +3.2%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, China ($X) constitutes the largest market for imported extruded solid rubber rods and profiles in Eastern Asia, comprising 60% of total imports. The second position in the ranking was taken by South Korea ($X), with a 21% share of total imports. It was followed by Japan, with a 15% share.

In China, extruded solid rubber rod imports plunged by an average annual rate of -7.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-9.9% per year) and Japan (-1.9% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, surging by 18% against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price 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, extruded solid rubber rod import price increased by +72.7% against 2016 indices. The growth pace was the most rapid in 2019 an increase of 33% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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