South Africa: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in South Africa

In 2022, the South African vulcanised rubber seal market increased by 12% to $X, rising for the second year in a row after two years of decline. Overall, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +64.1% against 2020 indices. Vulcanised rubber seal consumption peaked in 2022 and is likely to continue growth in the near future.

Vulcanised Rubber Seal Exports

Exports from South Africa

In 2022, overseas shipments of seals of vulcanised rubber increased by 4.9% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.3% 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 2017 when exports increased by 19%. Over the period under review, the exports hit record highs at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, vulcanised rubber seal exports rose notably to $X in 2022. The total export value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when exports increased by 39% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Botswana (X tons), Zambia (X tons) and Zimbabwe (X tons) were the main destinations of vulcanised rubber seal exports from South Africa, with a combined 51% share of total exports. Namibia, Mozambique, Swaziland, Democratic Republic of the Congo, Lesotho, the United States, Malawi, Angola and Tanzania lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +18.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Zambia ($X), Zimbabwe ($X) and Namibia ($X) were the largest markets for vulcanised rubber seal exported from South Africa worldwide, with a combined 45% share of total exports. Botswana, Democratic Republic of the Congo, Mozambique, Swaziland, the United States, Tanzania, Angola, Lesotho and Malawi lagged somewhat behind, together accounting for a further 36%.

The United States, with a CAGR of +19.2%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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, picking up by 7.2% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 27%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to Lesotho ($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 Democratic Republic of the Congo (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into South Africa

In 2022, purchases abroad of seals of vulcanised rubber increased by 9.6% to X tons, rising for the second consecutive year after two years of decline. In general, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.0% against 2020 indices. The growth pace was the most rapid in 2015 when imports increased by 36%. Imports peaked at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, vulcanised rubber seal imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 25% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of vulcanised rubber seal to South Africa, with a 33% share of total imports. Moreover, vulcanised rubber seal imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +15.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+13.5% per year) and the United States (+6.6% per year).

In value terms, the largest vulcanised rubber seal suppliers to South Africa were the United States ($X), China ($X) and Germany ($X), with a combined 46% share of total imports. Japan, Italy, Taiwan (Chinese), the UK, Thailand, France, India, Spain, Turkey and Costa Rica lagged somewhat behind, together accounting for a further 35%.

Among the main suppliers, Turkey, with a CAGR of +9.8%, 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

In 2022, the average vulcanised rubber seal import price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price showed a noticeable contraction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 30%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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