Norway: Market for Rubber-to-Metal and Moulded Articles 2024

Market Size for Rubber-to-Metal and Moulded Articles in Norway

The Norwegian rubber-to-metal and moulded article market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Rubber-to-Metal and Moulded Articles

Exports from Norway

For the third year in a row, Norway recorded growth in shipments abroad of rubber-to-metal and moulded articles, which increased by 93% to X tons in 2021. Overall, exports saw a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, rubber-to-metal and moulded article exports soared to $X in 2021. In general, exports, however, saw a drastic downturn. The pace of growth was the most pronounced in 2017 when exports increased by 53% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons), Sweden (X tons) and Poland (X tons) were the main destinations of rubber-to-metal and moulded article exports from Norway, with a combined 60% share of total exports. These countries were followed by the UK, Denmark, the United States, Germany, the Netherlands, Malaysia and South Korea, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +36.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Sweden ($X) and Denmark ($X) appeared to be the largest markets for rubber-to-metal and moulded article exported from Norway worldwide, with a combined 45% share of total exports. Russia, Poland, the United States, Malaysia, the Netherlands, Germany and South Korea lagged somewhat behind, together accounting for a further 31%.

Malaysia, with a CAGR of +42.3%, recorded 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 rubber-to-metal and moulded article export price stood at $X per ton in 2021, reducing by -27.8% against the previous year. Overall, the export price saw a abrupt decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by 11%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rubber-to-Metal and Moulded Articles

Imports into Norway

In 2021, after two years of decline, there was growth in supplies from abroad of rubber-to-metal and moulded articles, when their volume increased by 4.5% to X tons. In general, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -23.5% against 2018 indices. The growth pace was the most rapid in 2015 when imports increased by 27%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, rubber-to-metal and moulded article imports rose rapidly to $X in 2021. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 20% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the near future.

Imports by Country

Poland (X tons), Sweden (X tons) and Germany (X tons) were the main suppliers of rubber-to-metal and moulded article imports to Norway, with a combined 72% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +21.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of rubber-to-metal and moulded articles to Norway, comprising 29% of total imports. The second position in the ranking was held by Poland ($X), with a 12% share of total imports. It was followed by Sweden, with a 9.5% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+31.7% per year) and Sweden (-6.8% per year).

Import Prices by Country

In 2021, the average rubber-to-metal and moulded article import price amounted to $X per ton, growing by 7% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 33% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+20.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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