Eastern Asia: Market for Vulcanised Cellular Rubber Articles For Technical Uses 2024

Market Size for Vulcanised Cellular Rubber Articles For Technical Uses in Eastern Asia

In 2021, the East Asian vulcanised cellular rubber articles market decreased by -12.9% to $X for the first time since 2015, thus ending a five-year rising trend. The total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +76.0% against 2015 indices. As a result, consumption attained the peak level of $X, and then declined in the following year.

Production of Vulcanised Cellular Rubber Articles For Technical Uses in Eastern Asia

In value terms, vulcanised cellular rubber articles production shrank to $X in 2021 estimated in export price. The total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +58.1% against 2013 indices. The pace of growth was the most pronounced in 2020 with an increase of 29% against the previous year. As a result, production attained the peak level of $X, and then fell in the following year.

Exports of Vulcanised Cellular Rubber Articles For Technical Uses

Exports in Eastern Asia

In 2021, overseas shipments of vulcanised cellular rubber articles for technical uses increased by 15% to X tons, rising for the fifth year in a row after two years of decline. The total export volume increased at an average annual rate of +5.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 16%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, vulcanised cellular rubber articles exports soared to $X in 2021. The total export value increased at an average annual rate of +6.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the main exporter of vulcanised cellular rubber articles for technical uses in Eastern Asia, with the volume of exports finishing at X tons, which was near 78% of total exports in 2021. Taiwan (Chinese) (X tons) took an 11% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (9.4%).

From 2012 to 2021, average annual rates of growth with regard to vulcanised cellular rubber articles exports from China stood at +6.6%. At the same time, Taiwan (Chinese) (+14.0%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +14.0% from 2012-2021. By contrast, South Korea (-5.7%) illustrated a downward trend over the same period. While the share of China (+9.4 p.p.) and Taiwan (Chinese) (+5.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-15.4 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest vulcanised cellular rubber articles supplier in Eastern Asia, comprising 68% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 19% share of total exports.

In China, vulcanised cellular rubber articles exports increased at an average annual rate of +11.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+13.5% per year) and South Korea (-9.9% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.2%), while the other leaders experienced a decline in the export price figures.

Imports of Vulcanised Cellular Rubber Articles For Technical Uses

Imports in Eastern Asia

For the tenth year in a row, Eastern Asia recorded growth in overseas purchases of vulcanised cellular rubber articles for technical uses, which increased by 6.3% to X tons in 2021. Over the period under review, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 23% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, vulcanised cellular rubber articles imports surged to $X in 2021. The total import value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons) was the largest importer of vulcanised cellular rubber articles for technical uses, constituting 47% of total imports. It was distantly followed by China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons), together creating a 47% share of total imports. The following importers - Hong Kong SAR (X tons) and Democratic People's Republic of Korea (X tons) - together made up 6% of total imports.

From 2012 to 2021, average annual rates of growth with regard to vulcanised cellular rubber articles imports into South Korea stood at +25.6%. At the same time, Taiwan (Chinese) (+33.8%), Democratic People's Republic of Korea (+12.9%), Japan (+10.0%) and Hong Kong SAR (+8.0%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +33.8% from 2012-2021. China experienced a relatively flat trend pattern. While the share of South Korea (+31 p.p.) and Taiwan (Chinese) (+7.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-1.6 p.p.) and China (-36.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported vulcanised cellular rubber articles for technical uses in Eastern Asia, comprising 56% of total imports. The second position in the ranking was taken by South Korea ($X), with a 21% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+28.1% per year) and Japan (+4.9% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, picking up by 11% against the previous year. Overall, the import price, however, continues to indicate a abrupt contraction. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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