Myanmar: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Myanmar

The Myanmar's vulcanised rubber seal market rose modestly to $X in 2022, with an increase of 1.5% against the previous year. In general, consumption, however, saw a perceptible contraction. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Vulcanised Rubber Seal Production in Myanmar

In value terms, vulcanised rubber seal production stood at $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible setback. The pace of growth was the most pronounced in 2016 when the production volume increased by 26% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Vulcanised Rubber Seal Exports

Exports from Myanmar

After two years of growth, overseas shipments of seals of vulcanised rubber decreased by -92.5% to X tons in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 540%. The exports peaked at X tons in 2021, and then dropped markedly in the following year.

In value terms, vulcanised rubber seal exports dropped remarkably to $X in 2022. Overall, exports continue to indicate a slight decline. The most prominent rate of growth was recorded in 2020 with an increase of 443%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for vulcanised rubber seal exports from Myanmar, accounting for a 94% share of total exports. Moreover, vulcanised rubber seal exports to Germany exceeded the volume sent to the second major destination, India (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany was relatively modest.

In value terms, Germany ($X) emerged as the key foreign market for seals of vulcanised rubber exports from Myanmar, comprising 82% of total exports. The second position in the ranking was held by India ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany was relatively modest.

Export Prices by Country

In 2022, the average vulcanised rubber seal export price amounted to $X per ton, declining by -58.7% against the previous year. Overall, the export price saw a slight descent. The most prominent rate of growth was recorded in 2017 an increase of 58%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Germany amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+11.0%), while the prices for the other major destinations experienced a decline.

Vulcanised Rubber Seal Imports

Imports into Myanmar

In 2022, supplies from abroad of seals of vulcanised rubber decreased by -10.8% to X tons, falling for the third year in a row after six years of growth. In general, imports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2018 when imports increased by 149% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, vulcanised rubber seal imports expanded remarkably to $X in 2022. Over the period under review, imports, however, showed resilient growth. The growth pace was the most rapid in 2017 when imports increased by 66% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest vulcanised rubber seal supplier to Myanmar, with a 65% share of total imports. Moreover, vulcanised rubber seal imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold. Malaysia (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +29.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+78.5% per year) and Malaysia (+7.4% per year).

In value terms, the largest vulcanised rubber seal suppliers to Myanmar were China ($X), Thailand ($X) and Japan ($X), with a combined 45% share of total imports. Malaysia, Singapore, the United States and Vietnam lagged somewhat behind, together accounting for a further 25%.

Among the main suppliers, Vietnam, with a CAGR of +94.2%, 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

In 2022, the average vulcanised rubber seal import price amounted to $X per ton, with an increase of 27% against the previous year. Over the period under review, the import price, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by 31% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+29.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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