Serbia: Market for Extruded Solid Rubber Rods And Profiles 2024

Market Size for Extruded Solid Rubber Rods And Profiles in Serbia

In 2022, the Serbian extruded solid rubber rod market increased by 0.2% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption showed a mild decrease. Extruded solid rubber rod consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from Serbia

In 2022, after three years of growth, there was significant decline in shipments abroad of extruded solid rubber rods and profiles, when their volume decreased by -38.6% to X tons. In general, exports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2019 with an increase of 89%. Over the period under review, the exports reached the maximum at X tons in 2021, and then shrank sharply in the following year.

In value terms, extruded solid rubber rod exports fell markedly to $X in 2022. Overall, exports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2019 with an increase of 86% against the previous year. The exports peaked at $X in 2021, and then fell remarkably in the following year.

Exports by Country

Germany (X tons) was the main destination for extruded solid rubber rod exports from Serbia, with a 60% share of total exports. Moreover, extruded solid rubber rod exports to Germany exceeded the volume sent to the second major destination, Belarus (X tons), threefold. Slovenia (X tons) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to +83.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (-1.3% per year) and Slovenia (+79.7% per year).

In value terms, Germany ($X) remains the key foreign market for extruded solid rubber rods and profiles exports from Serbia, comprising 52% of total exports. The second position in the ranking was held by Belarus ($X), with a 15% share of total exports. It was followed by Slovenia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +80.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (-1.4% per year) and Slovenia (+85.8% per year).

Export Prices by Country

In 2022, the average extruded solid rubber rod export price amounted to $X per ton, growing by 18% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to Belarus ($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 France (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into Serbia

In 2022, approx. X tons of extruded solid rubber rods and profiles were imported into Serbia; shrinking by -31.3% on the previous year's figure. In general, imports, however, posted noticeable growth. The growth pace was the most rapid in 2014 with an increase of 218%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, extruded solid rubber rod imports reduced to $X in 2022. Overall, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2014 when imports increased by 238% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Hungary (X tons), Turkey (X tons) and Greece (X tons) were the main suppliers of extruded solid rubber rod imports to Serbia, together accounting for 70% of total imports. Germany, Poland, Italy and Slovakia lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +66.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Hungary ($X) and Germany ($X) were the largest extruded solid rubber rod suppliers to Serbia, together comprising 63% of total imports. Turkey, Italy, Poland and Slovakia lagged somewhat behind, together comprising a further 23%.

Among the main suppliers, Slovakia, with a CAGR of +59.8%, saw the highest rates of growth with regard to 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 extruded solid rubber rod import price stood at $X per ton in 2022, rising by 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Italy ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform