Eastern Asia: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in Eastern Asia

The East Asian vulcanised rubber thread market was finally on the rise to reach $X in 2021, after two years of decline. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is likely to see steady growth in years to come.

Vulcanised Rubber Thread Production in Eastern Asia

In value terms, vulcanised rubber thread production expanded significantly to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% 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 decreased by -9.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 46% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Vulcanised Rubber Thread Exports

Exports in Eastern Asia

In 2021, approx. X tons of vulcanised rubber thread and cord were exported in Eastern Asia; rising by 16% on 2020. In general, exports, however, continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2014 when exports increased by 71%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, vulcanised rubber thread exports surged to $X in 2021. Over the period under review, exports posted slight growth. The most prominent rate of growth was recorded in 2014 with an increase of 107%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China dominates exports structure, resulting at X tons, which was approx. 88% of total exports in 2021. Taiwan (Chinese) (X tons), South Korea (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of vulcanised rubber thread and cord. At the same time, South Korea (+19.5%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +19.5% from 2012-2021. By contrast, Taiwan (Chinese) (-7.2%) and Hong Kong SAR (-23.1%) illustrated a downward trend over the same period. While the share of China (+23 p.p.) and South Korea (+3.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-2.4 p.p.) and Hong Kong SAR (-23.9 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest vulcanised rubber thread supplier in Eastern Asia, comprising 89% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 4.3% share of total exports. It was followed by South Korea, with a 3.2% share.

In China, vulcanised rubber thread exports expanded at an average annual rate of +4.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (-5.6% per year) and South Korea (+14.6% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, increasing by 3.4% against the previous year. Export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.8% 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 thread export price increased by +73.3% against 2016 indices. The growth pace was the most rapid in 2017 when the export price increased by 48% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and China ($X per ton), while South Korea ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.9%), while the other leaders experienced more modest paces of growth.

Vulcanised Rubber Thread Imports

Imports in Eastern Asia

In 2021, the amount of vulcanised rubber thread and cord imported in Eastern Asia surged to X tons, with an increase of 21% on the year before. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 45%. The volume of import peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, vulcanised rubber thread imports surged to $X in 2021. Total imports indicated perceptible growth 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. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China dominates imports structure, accounting for X tons, which was near 93% of total imports in 2021. South Korea (X tons) and Taiwan (Chinese) (X tons) held a little share of total imports.

China was also the fastest-growing in terms of the vulcanised rubber thread and cord imports, with a CAGR of +9.0% from 2012 to 2021. South Korea experienced a relatively flat trend pattern. Taiwan (Chinese) (-10.9%) illustrated a downward trend over the same period. While the share of China (+20 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-2.6 p.p.) and Taiwan (Chinese) (-8.7 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported vulcanised rubber thread and cord in Eastern Asia, comprising 92% of total imports. The second position in the ranking was taken by South Korea ($X), with a 4.3% share of total imports.

From 2012 to 2021, the average annual growth rate of value in China totaled +7.5%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-0.9% per year) and Taiwan (Chinese) (-8.7% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, with an increase of 31% against the previous year. Over the period under review, the import price, however, recorded a mild decline. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while China ($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) (+2.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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