Greece: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in Greece

The Greek vulcanised rubber thread market amounted to $X in 2021, approximately equating 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). In general, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.7% against 2018 indices. Vulcanised rubber thread consumption peaked at $X in 2018; afterwards, it flattened through to 2021.

Vulcanised Rubber Thread Exports

Exports from Greece

In 2021, after four years of growth, there was significant decline in overseas shipments of vulcanised rubber thread and cord, when their volume decreased by -36.3% to X tons. In general, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 218%. The exports peaked at X tons in 2020, and then reduced markedly in the following year.

In value terms, vulcanised rubber thread exports shrank notably to $X in 2021. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 657%. As a result, the exports reached the peak of $X, and then dropped rapidly in the following year.

Exports by Country

Belgium (X tons) was the main destination for vulcanised rubber thread exports from Greece, with a 40% share of total exports. Moreover, vulcanised rubber thread exports to Belgium exceeded the volume sent to the second major destination, Bulgaria (X tons), threefold. Madagascar (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Belgium amounted to +228.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+8.7% per year) and Madagascar (0.0% per year).

In value terms, Belgium ($X) emerged as the key foreign market for vulcanised rubber thread and cord exports from Greece, comprising 58% of total exports. The second position in the ranking was held by Germany ($X), with a 13% share of total exports. It was followed by Madagascar, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Belgium stood at +187.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+92.2% per year) and Madagascar (0.0% per year).

Export Prices by Country

In 2021, the average vulcanised rubber thread export price amounted to $X per ton, reducing by -74.5% against the previous year. Over the period under review, the export price, however, saw measured growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 219%. As a result, the export price reached the peak level of $X per ton, and then dropped sharply in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Luxembourg (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Thread Imports

Imports into Greece

Vulcanised rubber thread imports into Greece fell to X tons in 2021, shrinking by -14.2% compared with the previous year's figure. Overall, total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -16.4% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 25%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, vulcanised rubber thread imports amounted to $X in 2021. In general, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 57% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in years to come.

Imports by Country

Belgium (X tons), Malaysia (X tons) and India (X tons) were the main suppliers of vulcanised rubber thread imports to Greece, together accounting for 73% of total imports. Turkey, Thailand, China, Italy and Bulgaria lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +182.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of vulcanised rubber thread and cord to Greece, comprising 45% of total imports. The second position in the ranking was held by India ($X), with a 19% share of total imports. It was followed by Malaysia, with an 18% share.

From 2012 to 2021, the average annual growth rate of value from Belgium amounted to +82.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+81.1% per year) and Malaysia (-5.5% per year).

Import Prices by Country

In 2021, the average vulcanised rubber thread import price amounted to $X per ton, picking up by 22% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vulcanised rubber thread import price increased by +79.9% against 2016 indices. The pace of growth was the most pronounced in 2017 an increase of 36% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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