Scandinavia: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in Scandinavia

In 2021, the Scandinavia vulcanised rubber thread market decreased by -13.9% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption recorded a deep reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Vulcanised Rubber Thread Production in Scandinavia

In value terms, vulcanised rubber thread production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production showed a significant expansion. The pace of growth was the most pronounced in 2020 when the production volume increased by 2,902% against the previous year. Over the period under review, production attained the peak level in 2021 and is likely to see steady growth in the immediate term.

Vulcanised Rubber Thread Exports

Exports in Scandinavia

In 2021, after three years of growth, there was significant decline in shipments abroad of vulcanised rubber thread and cord, when their volume decreased by -57.5% to X tons. In general, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 80% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, vulcanised rubber thread exports surged to $X in 2021. Total exports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 160%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Denmark represented the key exporting country with an export of about X tons, which accounted for 66% of total exports. Sweden (X tons) ranks second in terms of the total exports with a 25% share, followed by Finland (4.6%). Norway (X kg) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to vulcanised rubber thread exports from Denmark stood at -3.0%. At the same time, Finland (+12.7%) and Norway (+2.8%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +12.7% from 2012-2021. By contrast, Sweden (-13.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Denmark, Finland and Norway increased by +21, +3.8 and +2.1 percentage points, respectively.

In value terms, Denmark ($X) remains the largest vulcanised rubber thread supplier in Scandinavia, comprising 65% of total exports. The second position in the ranking was taken by Sweden ($X), with a 22% share of total exports. It was followed by Norway, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value in Denmark was relatively modest. In the other countries, the average annual rates were as follows: Sweden (+5.3% per year) and Norway (+11.9% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, with an increase of 215% against the previous year. Over the period under review, the export price saw buoyant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+22.4%), while the other leaders experienced more modest paces of growth.

Vulcanised Rubber Thread Imports

Imports in Scandinavia

In 2021, after four years of growth, there was significant decline in purchases abroad of vulcanised rubber thread and cord, when their volume decreased by -27.9% to X tons. In general, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 28% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, vulcanised rubber thread imports declined to $X in 2021. Overall, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of 37% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Sweden (X tons) was the major importer of vulcanised rubber thread and cord, making up 66% of total imports. Denmark (X tons) held a 19% share (based on physical terms) of total imports, which put it in second place, followed by Finland (8.5%) and Norway (6.6%).

From 2012 to 2021, average annual rates of growth with regard to vulcanised rubber thread imports into Sweden stood at -17.0%. At the same time, Norway (+9.4%), Finland (+4.3%) and Denmark (+1.6%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +9.4% from 2012-2021. While the share of Denmark (+14 p.p.), Finland (+6.9 p.p.) and Norway (+5.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Sweden (-27.6 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) constitutes the largest market for imported vulcanised rubber thread and cord in Scandinavia, comprising 54% of total imports. The second position in the ranking was held by Denmark ($X), with a 19% share of total imports. It was followed by Finland, with a 15% share.

In Sweden, vulcanised rubber thread imports declined by an average annual rate of -14.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Denmark (+3.8% per year) and Finland (+9.0% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, rising by 27% against the previous year. Import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vulcanised rubber thread import price increased by +20.7% against 2018 indices. The pace of growth appeared the most rapid in 2014 an increase of 50% against the previous year. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform