Pakistan: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Pakistan

In 2022, the Pakistani vulcanised rubber seal market increased by 11% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption saw a relatively flat trend pattern. Vulcanised rubber seal consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Vulcanised Rubber Seal Exports

Exports from Pakistan

In 2022, shipments abroad of seals of vulcanised rubber was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports continue to indicate a mild expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 92% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, vulcanised rubber seal exports soared to $X in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 237%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Kenya (X tons), Germany (X tons) and the United Arab Emirates (X tons) were the main destinations of vulcanised rubber seal exports from Pakistan, together accounting for 95% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +39.9%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for seals of vulcanised rubber exports from Pakistan, comprising 58% of total exports. The second position in the ranking was held by Kenya ($X), with a 23% share of total exports. It was followed by the United Arab Emirates, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +67.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (-3.1% per year) and the United Arab Emirates (+2.4% per year).

Export Prices by Country

In 2022, the average vulcanised rubber seal export price amounted to $X per ton, with a decrease of -16% against the previous year. Over the period under review, the export price recorded a slight decrease. The pace of growth was the most pronounced in 2017 when the average export price increased by 179%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Kenya ($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 Germany (+19.4%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Pakistan

In 2022, approx. X tons of seals of vulcanised rubber were imported into Pakistan; growing by 6.5% against the previous year. Over the period under review, imports, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 35%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, vulcanised rubber seal imports surged to $X in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 20%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and the United States (X tons) were the main suppliers of vulcanised rubber seal imports to Pakistan, together accounting for 48% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +7.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and the United States ($X) appeared to be the largest vulcanised rubber seal suppliers to Pakistan, together accounting for 46% of total imports.

Among the main suppliers, China, with a CAGR of +11.5%, recorded 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

The average vulcanised rubber seal import price stood at $X per ton in 2022, growing by 11% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price 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, vulcanised rubber seal import price increased by +25.3% against 2020 indices. The pace of growth was the most pronounced in 2016 an increase of 22%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a 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 United Arab Emirates ($X per ton), while the price for Taiwan (Chinese) ($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 (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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