Slovakia: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Slovakia

The Slovak vulcanised rubber seal market shrank significantly to $X in 2022, which is down by -26.5% against the previous year. Overall, consumption continues to indicate a noticeable slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vulcanised Rubber Seal Production in Slovakia

In value terms, vulcanised rubber seal production shrank rapidly to $X in 2022 estimated in export price. Overall, the total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +25.1% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 50% against the previous year. Vulcanised rubber seal production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Vulcanised Rubber Seal Exports

Exports from Slovakia

In 2022, overseas shipments of seals of vulcanised rubber decreased by -3.5% to X tons, falling for the third year in a row after eight years of growth. Overall, total exports indicated a remarkable increase from 2012 to 2022: its volume 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, exports decreased by -27.2% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of 26% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, vulcanised rubber seal exports fell to $X in 2022. In general, total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by +0.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The Czech Republic (X tons) was the main destination for vulcanised rubber seal exports from Slovakia, accounting for a 48% share of total exports. Moreover, vulcanised rubber seal exports to the Czech Republic exceeded the volume sent to the second major destination, Poland (X tons), twofold. The third position in this ranking was held by Germany (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to the Czech Republic stood at +4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+4.6% per year) and Germany (+30.2% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for seals of vulcanised rubber exports from Slovakia, comprising 50% of total exports. The second position in the ranking was held by Poland ($X), with a 16% share of total exports. It was followed by Germany, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to the Czech Republic stood at +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+3.3% per year) and Germany (+29.5% per year).

Export Prices by Country

The average vulcanised rubber seal export price stood at $X per ton in 2022, which is down by -9.9% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 19% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Poland ($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 (-0.5%), while the prices for the other major destinations experienced a decline.

Vulcanised Rubber Seal Imports

Imports into Slovakia

In 2022, vulcanised rubber seal imports into Slovakia shrank slightly to X tons, reducing by -4.7% compared with 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 26%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vulcanised rubber seal imports shrank markedly to $X in 2022. The total import value increased at an average annual rate of +1.0% 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 2021 with an increase of 33%. As a result, imports attained the peak of $X, and then fell sharply in the following year.

Imports by Country

Poland (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of vulcanised rubber seal imports to Slovakia, with a combined 63% share of total imports. The Czech Republic, Spain, South Korea, China and France lagged somewhat behind, together comprising a further 27%.

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 +20.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of seals of vulcanised rubber to Slovakia, comprising 30% of total imports. The second position in the ranking was taken by Poland ($X), with a 13% share of total imports. It was followed by Italy, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+7.4% per year) and Italy (+6.0% per year).

Import Prices by Country

In 2022, the average vulcanised rubber seal import price amounted to $X per ton, dropping by -12.8% against the previous year. In general, the import price, however, showed a slight expansion. The most prominent rate of growth was recorded in 2016 an increase of 25% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then dropped in the following year.

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 China ($X per ton), while the price for Poland ($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 (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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