Kenya: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Kenya

The Kenyan vulcanised rubber seal market rose notably to $X in 2022, increasing by 5.6% 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). Overall, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.6% 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 +23.5% against 2019 indices. Vulcanised rubber seal consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Vulcanised Rubber Seal Exports

Exports from Kenya

Vulcanised rubber seal exports from Kenya rose notably to X tons in 2022, increasing by 6.6% against the year before. Overall, exports, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2018 when exports increased by 273% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, vulcanised rubber seal exports dropped slightly to $X in 2022. Over the period under review, exports, however, saw a abrupt slump. The pace of growth was the most pronounced in 2018 when exports increased by 125% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Tanzania (X tons), Rwanda (X tons) and New Zealand (X kg) were the main destinations of vulcanised rubber seal exports from Kenya, with a combined 98% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Rwanda (with a CAGR of +15.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Tanzania ($X), Rwanda ($X) and New Zealand ($X) were the largest markets for vulcanised rubber seal exported from Kenya worldwide, with a combined 83% share of total exports.

Among the main countries of destination, New Zealand, with a CAGR of +175.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average vulcanised rubber seal export price stood at $X per ton in 2022, which is down by -8.3% against the previous year. Over the period under review, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.1% 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 export price decreased by -15.7% against 2018 indices. The pace of growth appeared the most rapid in 2015 an increase of 39%. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 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 New Zealand ($X per ton), while the average price for exports to Rwanda ($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 Israel (+151.9%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Kenya

In 2022, overseas purchases of seals of vulcanised rubber increased by 13% to X tons, rising for the second year in a row after two years of decline. Overall, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +7.0% 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 +62.4% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by 123% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, vulcanised rubber seal imports rose modestly to $X in 2022. In general, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +10.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 106% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of vulcanised rubber seal to Kenya, with a 55% share of total imports. Moreover, vulcanised rubber seal imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+4.0% per year) and Italy (+4.6% per year).

In value terms, the largest vulcanised rubber seal suppliers to Kenya were China ($X), India ($X) and the UK ($X), together comprising 43% of total imports.

Among the main suppliers, China, with a CAGR of +12.7%, saw 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

In 2022, the average vulcanised rubber seal import price amounted to $X per ton, waning by -10.3% against the previous year. Over the period under review, the import price saw a slight curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by 21% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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 UK ($X per ton), while the price for China ($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 (+25.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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