Estonia: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in Estonia

The Estonian extruded solid rubber rod market shrank to $X in 2022, waning by -10.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a abrupt decline. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from Estonia

In 2022, overseas shipments of extruded solid rubber rods and profiles increased by 89% to X tons, rising for the fourth consecutive year after two years of decline. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 196% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, extruded solid rubber rod exports amounted to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 188%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for extruded solid rubber rod exports from Estonia, with a 83% share of total exports. Moreover, extruded solid rubber rod exports to Russia exceeded the volume sent to the second major destination, Finland (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia totaled +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+3.8% per year) and Latvia (-24.6% per year).

In value terms, Russia ($X) remains the key foreign market for extruded solid rubber rods and profiles exports from Estonia, comprising 81% of total exports. The second position in the ranking was held by Finland ($X), with a 5.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Russia totaled +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (-1.5% per year) and Latvia (-23.5% per year).

Export Prices by Country

In 2022, the average extruded solid rubber rod export price amounted to $X per ton, which is down by -45.9% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 85%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into Estonia

Extruded solid rubber rod imports into Estonia contracted to X tons in 2022, which is down by -9.6% compared with the previous year's figure. Overall, imports showed a abrupt contraction. The pace of growth appeared the most rapid in 2020 when imports increased by 96%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, extruded solid rubber rod imports stood at $X in 2022. Over the period under review, imports saw a deep setback. The growth pace was the most rapid in 2014 when imports increased by 87%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of extruded solid rubber rod to Estonia, accounting for a 40% share of total imports. Moreover, extruded solid rubber rod imports from Germany exceeded the figures recorded by the second-largest supplier, Latvia (X tons), fivefold. Turkey (X tons) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+20.7% per year) and Turkey (+95.1% per year).

In value terms, Germany ($X) constituted the largest supplier of extruded solid rubber rods and profiles to Estonia, comprising 34% of total imports. The second position in the ranking was taken by Finland ($X), with a 3.4% share of total imports. It was followed by Latvia, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (-3.9% per year) and Latvia (+20.6% per year).

Import Prices by Country

In 2022, the average extruded solid rubber rod import price amounted to $X per ton, picking up by 11% against the previous year. In general, the import price enjoyed a remarkable increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 66%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform