Ethiopia: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Ethiopia

In 2022, the Ethiopian vulcanised rubber seal market decreased by -3.3% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, continues to indicate a buoyant increase. Vulcanised rubber seal consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Vulcanised Rubber Seal Exports

Exports from Ethiopia

Vulcanised rubber seal exports from Ethiopia surged to X tons in 2022, jumping by 365% on 2021. Overall, exports, however, recorded a pronounced slump. The growth pace was the most rapid in 2017 when exports increased by 4,773%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, vulcanised rubber seal exports soared to $X in 2022. In general, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 4,165%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg), Nigeria (X kg) and Djibouti (X kg) were the main destinations of vulcanised rubber seal exports from Ethiopia, with a combined 60% share of total exports. Estonia, Germany, the Dominican Republic, Canada, Italy and Tanzania lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Estonia (with a CAGR of +178.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vulcanised rubber seal exported from Ethiopia were the United Arab Emirates ($X), Germany ($X) and Djibouti ($X), with a combined 65% share of total exports. Nigeria, Canada, the Dominican Republic, Estonia, Italy, Tanzania and Malaysia lagged somewhat behind, together accounting for a further 16%.

In terms of the main countries of destination, Estonia, with a CAGR of +179.1%, saw the highest rates of growth with regard to 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

In 2022, the average vulcanised rubber seal export price amounted to $X per ton, dropping by -9.5% against the previous year. In general, the export price continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2016 when the average export price increased by 86%. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Nigeria ($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 the Dominican Republic (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Ethiopia

In 2022, purchases abroad of seals of vulcanised rubber decreased by -20.5% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 537%. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, vulcanised rubber seal imports rose remarkably to $X in 2022. Over the period under review, imports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2019 with an increase of 310% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and Italy (X tons) were the main suppliers of vulcanised rubber seal imports to Ethiopia, with a combined 53% share of total imports. India, South Korea, the United Arab Emirates, Taiwan (Chinese), Vietnam, the United States, Thailand, Ukraine, Turkey and Germany lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +183.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber seal suppliers to Ethiopia were Japan ($X), Italy ($X) and the United States ($X), with a combined 48% share of total imports. China, India, South Korea, the United Arab Emirates, Germany, Vietnam, Ukraine, Thailand, Taiwan (Chinese) and Turkey lagged somewhat behind, together accounting for a further 39%.

Among the main suppliers, Vietnam, with a CAGR of +118.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vulcanised rubber seal import price amounted to $X per ton, jumping by 38% against the previous year. Over the period under review, the import price, however, saw a noticeable reduction. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform