Finland: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Finland

In 2022, the Finnish vulcanised rubber seal market increased by 31% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +36.6% against 2020 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Vulcanised Rubber Seal Production in Finland

In value terms, vulcanised rubber seal production shrank markedly to $X in 2022 estimated in export price. Overall, production, however, saw a moderate expansion. The most prominent rate of growth was recorded in 2017 with an increase of 280% against the previous year. Vulcanised rubber seal production peaked at $X in 2021, and then fell rapidly in the following year.

Vulcanised Rubber Seal Exports

Exports from Finland

In 2022, exports of seals of vulcanised rubber from Finland fell notably to X tons, declining by -45.4% against 2021 figures. Overall, exports continue to indicate a slight downturn. The pace of growth appeared the most rapid in 2021 with an increase of 50%. As a result, the exports attained the peak of X tons, and then declined markedly in the following year.

In value terms, vulcanised rubber seal exports reduced remarkably to $X in 2022. In general, exports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 55% against the previous year. As a result, the exports attained the peak of $X, and then shrank markedly in the following year.

Exports by Country

Sweden (X tons), Estonia (X tons) and Poland (X tons) were the main destinations of vulcanised rubber seal exports from Finland, with a combined 50% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +11.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vulcanised rubber seal exported from Finland were the Netherlands ($X), Sweden ($X) and the United States ($X), with a combined 35% share of total exports. Estonia, Germany, China, Poland, Norway, France, Russia, Denmark and the United Arab Emirates lagged somewhat behind, together accounting for a further 32%.

Among the main countries of destination, Poland, with a CAGR of +13.0%, recorded 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

The average vulcanised rubber seal export price stood at $X per ton in 2022, increasing by 8.7% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 17%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Estonia ($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 China (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Finland

In 2022, approx. X tons of seals of vulcanised rubber were imported into Finland; remaining relatively unchanged against the year before. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +4.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 36%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vulcanised rubber seal imports totaled $X in 2022. In general, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +27.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 24% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), France (X tons) and China (X tons) were the main suppliers of vulcanised rubber seal imports to Finland, together comprising 53% of total imports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +39.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber seal suppliers to Finland were Germany ($X), Sweden ($X) and China ($X), together accounting for 51% of total imports. Italy, the United States, France, Poland, Thailand, Spain and Estonia lagged somewhat behind, together accounting for a further 26%.

France, with a CAGR of +19.8%, saw the highest growth rate of 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

In 2022, the average vulcanised rubber seal import price amounted to $X per ton, picking up by 5.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2021 when the average import price increased by 16%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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