Estonia: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Estonia

The Estonian vulcanised rubber seal market shrank to $X in 2022, waning by -6.2% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Vulcanised Rubber Seal Production in Estonia

In value terms, vulcanised rubber seal production declined to $X in 2022 estimated in export price. In general, production saw a slight descent. The pace of growth appeared the most rapid in 2021 when the production volume increased by 22% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Vulcanised Rubber Seal Exports

Exports from Estonia

In 2022, vulcanised rubber seal exports from Estonia reduced markedly to X tons, shrinking by -17.3% compared with 2021 figures. Overall, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, vulcanised rubber seal exports declined notably to $X in 2022. In general, exports recorded a pronounced curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 35% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons) was the main destination for vulcanised rubber seal exports from Estonia, accounting for a 43% share of total exports. Moreover, vulcanised rubber seal exports to Sweden exceeded the volume sent to the second major destination, Germany (X tons), threefold. The Netherlands (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden stood at -13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-10.5% per year) and the Netherlands (+72.1% per year).

In value terms, the largest markets for vulcanised rubber seal exported from Estonia were Sweden ($X), Germany ($X) and the Netherlands ($X), with a combined 70% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +58.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vulcanised rubber seal export price stood at $X per ton in 2022, shrinking by -17.8% against the previous year. In general, the export price, however, showed a strong increase. The most prominent rate of growth was recorded in 2016 an increase of 30% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then dropped rapidly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to France ($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 Finland (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Estonia

After four years of growth, supplies from abroad of seals of vulcanised rubber decreased by -16.2% to X tons in 2022. The total import volume increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 34% against the previous year. Imports peaked at X tons in 2021, and then fell remarkably in the following year.

In value terms, vulcanised rubber seal imports reduced to $X in 2022. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 33%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

Sweden (X tons), Finland (X tons) and Germany (X tons) were the main suppliers of vulcanised rubber seal imports to Estonia, together accounting for 62% of total imports. Italy, China, Poland, Lithuania, Latvia, the Czech Republic, Russia and the Netherlands lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +25.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Germany ($X) and Finland ($X) appeared to be the largest vulcanised rubber seal suppliers to Estonia, together comprising 49% of total imports. China, Italy, Poland, Russia, Lithuania, Latvia, the Czech Republic and the Netherlands lagged somewhat behind, together comprising a further 24%.

Lithuania, with a CAGR of +13.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vulcanised rubber seal import price stood at $X per ton in 2022, picking up by 10% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 34% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+23.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform