India: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in India

The Indian vulcanised rubber seal market dropped modestly to $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.5% against 2017 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Vulcanised Rubber Seal Production in India

In value terms, vulcanised rubber seal production dropped to $X in 2022 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +9.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.1% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 40%. Vulcanised rubber seal production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Vulcanised Rubber Seal Exports

Exports from India

In 2022, the amount of seals of vulcanised rubber exported from India shrank to X tons, with a decrease of -5.9% on 2021. Over the period under review, exports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2018 when exports increased by 69%. Over the period under review, the exports reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, vulcanised rubber seal exports reached $X in 2022. In general, exports, however, recorded strong growth. The pace of growth appeared the most rapid in 2018 with an increase of 60% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The Netherlands (X tons), France (X tons) and the United States (X tons) were the main destinations of vulcanised rubber seal exports from India, with a combined 36% share of total exports. Germany, Brazil, the UK, Nepal, the United Arab Emirates, Romania, Bangladesh, Egypt, Italy and China lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of +74.5%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the Netherlands ($X) and France ($X) constituted the largest markets for vulcanised rubber seal exported from India worldwide, with a combined 36% share of total exports. Germany, Romania, Brazil, the UK, the United Arab Emirates, Italy, China, Bangladesh, Egypt and Nepal lagged somewhat behind, together accounting for a further 31%.

Romania, with a CAGR of +77.7%, saw the highest growth rate of the value of exports, among the main countries of destination 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, growing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.4%. The most prominent rate of growth was recorded in 2013 an increase of 38% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nepal ($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 United Arab Emirates (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into India

In 2022, approx. X tons of seals of vulcanised rubber were imported into India; with a decrease of -17.1% against 2021 figures. Overall, imports showed a pronounced contraction. The pace of growth appeared the most rapid in 2018 with an increase of 72% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, vulcanised rubber seal imports expanded modestly to $X in 2022. Over the period under review, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +40.5% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 35% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Japan (X tons), China (X tons) and Italy (X tons) were the main suppliers of vulcanised rubber seal imports to India, together accounting for 55% of total imports. Germany, South Korea, the United States, Taiwan (Chinese), Thailand, the UK, Singapore, Hungary and France lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +18.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber seal suppliers to India were the United States ($X), Germany ($X) and China ($X), with a combined 38% share of total imports. Japan, South Korea, Italy, Singapore, France, the UK, Taiwan (Chinese), Thailand and Hungary lagged somewhat behind, together comprising a further 46%.

In terms of the main suppliers, Singapore, with a CAGR of +13.1%, saw the highest growth rate of 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

The average vulcanised rubber seal import price stood at $X per ton in 2022, jumping by 26% against the previous year. In general, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vulcanised rubber seal import price increased by +49.7% against 2018 indices. The pace of growth appeared the most rapid in 2013 an increase of 42% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Hungary ($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 (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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