Israel: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Israel

The Israeli vulcanised rubber seal market declined slightly to $X in 2022, waning by -2% 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, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +68.9% against 2014 indices. Over the period under review, the market reached the peak level at $X in 2021, and then reduced in the following year.

Vulcanised Rubber Seal Exports

Exports from Israel

In 2022, overseas shipments of seals of vulcanised rubber increased by 53% to X tons, rising for the third consecutive year after five years of decline. Overall, exports showed a measured increase. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, vulcanised rubber seal exports surged to $X in 2022. In general, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 47%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Cuba (X tons) was the main destination for vulcanised rubber seal exports from Israel, accounting for a 35% share of total exports. Moreover, vulcanised rubber seal exports to Cuba exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by China (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cuba stood at +119.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+9.5% per year) and China (+29.3% per year).

In value terms, Cuba ($X) emerged as the key foreign market for seals of vulcanised rubber exports from Israel, comprising 32% of total exports. The second position in the ranking was held by the United States ($X), with a 15% share of total exports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Cuba stood at +114.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+10.2% per year) and China (+30.3% per year).

Export Prices by Country

In 2022, the average vulcanised rubber seal export price amounted to $X per ton, falling by -12.4% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 16%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Thailand ($X per ton), while the average price for exports to Slovakia ($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 Luxembourg (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Israel

In 2022, the amount of seals of vulcanised rubber imported into Israel contracted to X tons, declining by -7.5% on 2021 figures. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 when imports increased by 14%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vulcanised rubber seal imports rose slightly 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 +4.8% 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 +64.1% against 2014 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 22%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

The United States (X tons), China (X tons) and Germany (X tons) were the main suppliers of vulcanised rubber seal imports to Israel, together comprising 55% of total imports. Italy, Taiwan (Chinese), Turkey, Japan, France, the UK, Hong Kong SAR, the Netherlands, Sweden and Belgium lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +19.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber seal suppliers to Israel were the United States ($X), China ($X) and Germany ($X), with a combined 55% share of total imports. Italy, Taiwan (Chinese), Turkey, Japan, France, the UK, Hong Kong SAR, the Netherlands, Sweden and Belgium lagged somewhat behind, together accounting for a further 36%.

In terms of the main suppliers, Turkey, with a CAGR of +24.0%, recorded 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

The average vulcanised rubber seal import price stood at $X per ton in 2022, increasing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Turkey ($X per ton), while the price for the UK ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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