Portugal: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Portugal

In 2022, the Portuguese vulcanised rubber seal market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption saw a relatively flat trend pattern. Vulcanised rubber seal consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Vulcanised Rubber Seal Production in Portugal

In value terms, vulcanised rubber seal production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 24%. As a result, production reached the peak level of $X, and then declined in the following year.

Vulcanised Rubber Seal Exports

Exports from Portugal

In 2022, the amount of seals of vulcanised rubber exported from Portugal reduced remarkably to X tons, dropping by -16.7% on the previous year. Overall, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 57%. As a result, the exports attained the peak of X tons, and then reduced notably in the following year.

In value terms, vulcanised rubber seal exports declined modestly to $X in 2022. In general, exports, however, recorded a strong expansion. The growth pace was the most rapid in 2021 with an increase of 111% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

France (X tons), Spain (X tons) and Germany (X tons) were the main destinations of vulcanised rubber seal exports from Portugal, with a combined 73% share of total exports. Poland, Italy, Slovakia, Angola and the UK lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +37.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Spain ($X) appeared to be the largest markets for vulcanised rubber seal exported from Portugal worldwide, with a combined 79% share of total exports. Poland, Slovakia, the UK, Italy and Angola lagged somewhat behind, together comprising a further 16%.

Among the main countries of destination, Italy, with a CAGR of +35.4%, recorded the highest rates of growth with regard to the value of exports, 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 vulcanised rubber seal export price amounted to $X per ton, with an increase of 16% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.3% 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 increased by +122.7% against 2018 indices. The pace of growth appeared the most rapid in 2021 an increase of 34%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

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 Germany ($X per ton), while the average price for exports to Spain ($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 (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Portugal

In 2022, approx. X tons of seals of vulcanised rubber were imported into Portugal; surging by 11% compared with the previous year's figure. Overall, imports enjoyed a tangible increase. The most prominent rate of growth was recorded in 2018 when imports increased by 43% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, vulcanised rubber seal imports reached $X in 2022. In general, imports showed a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of 57% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of vulcanised rubber seal to Portugal, accounting for a 40% share of total imports. Moreover, vulcanised rubber seal imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by Morocco (X tons), with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.0% per year) and Morocco (+107.9% per year).

In value terms, Spain ($X), Germany ($X) and France ($X) constituted the largest vulcanised rubber seal suppliers to Portugal, together accounting for 61% of total imports. Morocco, Vietnam, Italy, Belgium, the Netherlands, the UK, Japan and Luxembourg lagged somewhat behind, together accounting for a further 24%.

In terms of the main suppliers, Morocco, with a CAGR of +95.3%, 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

The average vulcanised rubber seal import price stood at $X per ton in 2022, with a decrease of -5.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.1%. The pace of growth was the most pronounced in 2014 when the average import price increased by 28% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Luxembourg ($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 UK (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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