South-Eastern Asia: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in South-Eastern Asia

The Southeast Asian pharmaceutical rubber articles market expanded rapidly to $X in 2021, rising by 13% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Pharmaceutical Rubber Articles Production in South-Eastern Asia

In value terms, pharmaceutical rubber articles production totaled $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 11%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Pharmaceutical Rubber Articles Exports

Exports in South-Eastern Asia

In 2021, after two years of growth, there was significant decline in overseas shipments of hygienic or pharmaceutical articles of rubber, when their volume decreased by -21.6% to X units. Over the period under review, exports saw a deep slump. The pace of growth was the most pronounced in 2020 with an increase of 6.4% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, pharmaceutical rubber articles exports dropped markedly to $X in 2021. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2017 when exports increased by 7.6% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Malaysia (X units) was the main exporter of hygienic or pharmaceutical articles of rubber, mixing up 64% of total exports. Singapore (X units) held the second position in the ranking, followed by Thailand (X units). All these countries together took approx. 33% share of total exports. Indonesia (X units) followed a long way behind the leaders.

Malaysia experienced a relatively flat trend pattern with regard to volume of exports of hygienic or pharmaceutical articles of rubber. Thailand (-5.6%), Indonesia (-13.9%) and Singapore (-14.4%) illustrated a downward trend over the same period. Malaysia (+26 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Singapore saw its share reduced by -3% and -23.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Singapore ($X) and Thailand ($X) were the countries with the highest levels of exports in 2021, together accounting for 96% of total exports.

Malaysia, with a CAGR of +0.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per unit, with a decrease of -11.6% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 19% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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 Singapore ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+4.2%), while the other leaders experienced more modest paces of growth.

Pharmaceutical Rubber Articles Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of hygienic or pharmaceutical articles of rubber increased by 6.2% to X units, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 16% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, pharmaceutical rubber articles imports soared to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +16.5% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Indonesia (X units) was the key importer of hygienic or pharmaceutical articles of rubber, creating 47% of total imports. Vietnam (X units) held the second position in the ranking, followed by Malaysia (X units), Thailand (X units), Singapore (X units) and the Philippines (X units). All these countries together took approx. 51% share of total imports.

Imports into Indonesia increased at an average annual rate of +8.7% from 2012 to 2021. At the same time, Vietnam (+8.9%) and Malaysia (+3.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +8.9% from 2012-2021. By contrast, Singapore (-4.4%), Thailand (-4.5%) and the Philippines (-9.1%) illustrated a downward trend over the same period. While the share of Indonesia (+19 p.p.) and Vietnam (+5.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-8.3 p.p.), Thailand (-9.1 p.p.) and the Philippines (-9.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pharmaceutical rubber articles importing markets in South-Eastern Asia were Indonesia ($X), Thailand ($X) and Vietnam ($X), together comprising 70% of total imports.

Vietnam, with a CAGR of +12.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per unit, jumping by 16% against the previous year. Over the last nine years, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2018 when the import price increased by 16% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+16.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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