Eastern Asia: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in Eastern Asia

The East Asian pharmaceutical rubber articles market contracted to $X in 2021, shrinking by -8.6% against the previous year. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Pharmaceutical Rubber Articles Production in Eastern Asia

In value terms, pharmaceutical rubber articles production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by 19% against the previous year. As a result, production reached the peak level of $X, and then fell in the following year.

Pharmaceutical Rubber Articles Exports

Exports in Eastern Asia

Pharmaceutical rubber articles exports soared to X units in 2021, picking up by 23% on the year before. In general, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 77%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, pharmaceutical rubber articles exports surged to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +106.0% against 2012 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, resulting at X units, which was approx. 95% of total exports in 2021. The following exporters - Taiwan (Chinese) (X units) and South Korea (X units) - each resulted at a 4.2% share of total exports.

China was also the fastest-growing in terms of the hygienic or pharmaceutical articles of rubber exports, with a CAGR of +22.8% from 2012 to 2021. South Korea (-4.9%) and Taiwan (Chinese) (-5.7%) illustrated a downward trend over the same period. China (+33 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Taiwan (Chinese) saw its share reduced by -10% and -14.2% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest pharmaceutical rubber articles supplier in Eastern Asia, comprising 81% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 6% share of total exports.

In China, pharmaceutical rubber articles exports increased at an average annual rate of +19.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (-1.1% per year) and South Korea (-1.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, approximately equating the previous year. Overall, the export price, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when the export price increased by 7.5% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a 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 South Korea ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.9%), while the other leaders experienced mixed trends in the export price figures.

Pharmaceutical Rubber Articles Imports

Imports in Eastern Asia

In 2021, imports of hygienic or pharmaceutical articles of rubber in Eastern Asia contracted to X units, shrinking by -8.2% compared with the previous year. In general, imports recorded a perceptible downturn. The pace of growth appeared the most rapid in 2019 with an increase of 28% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, pharmaceutical rubber articles imports declined to $X in 2021. Overall, imports recorded a pronounced descent. The most prominent rate of growth was recorded in 2019 with an increase of 22%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X units), South Korea (X units) and Hong Kong SAR (X units) represented the largest importer of hygienic or pharmaceutical articles of rubber in Eastern Asia, comprising 79% of total import. China (X units) took the next position in the ranking, followed by Taiwan (Chinese) (X units). All these countries together took approx. 17% share of total imports. Macao SAR (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Macao SAR (with a CAGR of +8.4%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest pharmaceutical rubber articles importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 76% share of total imports. Hong Kong SAR, Taiwan (Chinese) and Macao SAR lagged somewhat behind, together accounting for a further 24%.

Macao SAR, with a CAGR of +8.0%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2021, approximately equating the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 7.9% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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