Iran: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Iran

The Iranian vulcanised rubber seal market was estimated at $X in 2022, surging by 2.5% against 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). Over the period under review, consumption, however, continues to indicate a slight downturn. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Vulcanised Rubber Seal Exports

Exports from Iran

In 2022, shipments abroad of seals of vulcanised rubber was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 232% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, vulcanised rubber seal exports surged to $X in 2022. Over the period under review, exports showed measured growth. The growth pace was the most rapid in 2018 when exports increased by 184% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Azerbaijan (X tons) was the main destination for vulcanised rubber seal exports from Iran, with a 66% share of total exports. Moreover, vulcanised rubber seal exports to Azerbaijan exceeded the volume sent to the second major destination, Armenia (X tons), fivefold. The third position in this ranking was taken by Uzbekistan (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Azerbaijan amounted to +85.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+28.1% per year) and Uzbekistan (+96.8% per year).

In value terms, Azerbaijan ($X) remains the key foreign market for seals of vulcanised rubber exports from Iran, comprising 35% of total exports. The second position in the ranking was held by Armenia ($X), with a 16% share of total exports. It was followed by Turkey, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Azerbaijan stood at +81.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+24.6% per year) and Turkey (-2.8% per year).

Export Prices by Country

In 2022, the average vulcanised rubber seal export price amounted to $X per ton, which is down by -7.2% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by 104% against the previous year. 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 somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Uzbekistan ($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 Tajikistan (+27.4%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Iran

In 2022, approx. X tons of seals of vulcanised rubber were imported into Iran; surging by 5.4% against 2021 figures. Overall, imports, however, continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2019 when imports increased by 106% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, vulcanised rubber seal imports stood at $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 85% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Germany (X tons) and Turkey (X tons) were the main suppliers of vulcanised rubber seal imports to Iran, with a combined 62% share of total imports. Hong Kong SAR, Italy and Bulgaria lagged somewhat behind, together comprising a further 8.9%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +606.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of seals of vulcanised rubber to Iran, comprising 28% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with an 11% share of total imports. It was followed by Turkey, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+109.8% per year) and Turkey (-2.0% per year).

Import Prices by Country

The average vulcanised rubber seal import price stood at $X per ton in 2022, reducing by -2.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 24%. The import price peaked at $X per ton in 2021, and then fell in the following year.

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 Italy ($X per ton), while the price for Germany ($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 Arab Emirates (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :