Norway: Metal-Reinforced Rubber Hose Market 2024

Metal-Reinforced Rubber Hose Market Size in Norway

In 2022, the Norwegian metal-reinforced rubber hose market increased by 17% to $X, rising for the second consecutive year after two years of decline. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Metal-Reinforced Rubber Hose Exports

Exports from Norway

In 2022, exports of rubber hose reinforced with metal from Norway surged to X tons, rising by 43% on the year before. In general, exports recorded prominent growth. The pace of growth appeared the most rapid in 2014 when exports increased by 127% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, metal-reinforced rubber hose exports skyrocketed to $X in 2022. Overall, exports saw prominent growth. The pace of growth appeared the most rapid in 2014 when exports increased by 204%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Spain (X tons) was the main destination for metal-reinforced rubber hose exports from Norway, accounting for a 39% share of total exports. Moreover, metal-reinforced rubber hose exports to Spain exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Denmark (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Spain totaled +15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+10.6% per year) and Denmark (+3.7% per year).

In value terms, Spain ($X), the United States ($X) and the Netherlands ($X) were the largest markets for metal-reinforced rubber hose exported from Norway worldwide, together accounting for 48% of total exports. The UK, Denmark, Sweden, Qatar, South Korea, Turkey, Iceland and Germany lagged somewhat behind, together accounting for a further 34%.

Qatar, with a CAGR of +73.0%, 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

In 2022, the average metal-reinforced rubber hose export price amounted to $X per ton, dropping by -3.4% against the previous year. In general, the export price continues to indicate a slight downturn. The growth pace was the most rapid in 2014 an increase of 34%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average 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 ($X per ton), while the average price for exports to Iceland ($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 the United States (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Metal-Reinforced Rubber Hose Imports

Imports into Norway

In 2022, overseas purchases of rubber hose reinforced with metal increased by 25% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 28% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, metal-reinforced rubber hose imports surged to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 57%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Sweden (X tons) constituted the largest supplier of metal-reinforced rubber hose to Norway, accounting for a 32% share of total imports. Moreover, metal-reinforced rubber hose imports from Sweden exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+4.6% per year) and Turkey (+1.0% per year).

In value terms, the largest metal-reinforced rubber hose suppliers to Norway were Italy ($X), the Czech Republic ($X) and Turkey ($X), together comprising 43% of total imports. The United States, China, Poland, Sweden, India, Denmark, Germany, Austria and the Netherlands lagged somewhat behind, together comprising a further 47%.

China, with a CAGR of +21.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 metal-reinforced rubber hose import price amounted to $X per ton, which is down by -6.4% against the previous year. In general, the import price continues to indicate a mild curtailment. The pace of growth was the most pronounced in 2018 when the average import price increased by 22% against the previous year. Over the period under review, average import prices reached the maximum 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 the Netherlands ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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