South-Eastern Asia: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in South-Eastern Asia

The Southeast Asian vulcanised rubber seal market contracted to $X in 2022, leveling off at the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Vulcanised Rubber Seal Production in South-Eastern Asia

In value terms, vulcanised rubber seal production reduced to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 30%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Vulcanised Rubber Seal Exports

Exports in South-Eastern Asia

In 2022, the amount of seals of vulcanised rubber exported in South-Eastern Asia fell to X tons, with a decrease of -5.9% against the previous year. Total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +32.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 40%. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, vulcanised rubber seal exports declined slightly to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +30.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 37%. As a result, the exports attained the peak of $X, and then declined modestly in the following year.

Exports by Country

Vietnam (X tons) and Thailand (X tons) represented the major exporters of seals of vulcanised rubber in 2022, reaching near 36% and 33% of total exports, respectively. Singapore (X tons) took the next position in the ranking, followed by Malaysia (X tons) and Indonesia (X tons). All these countries together held approx. 27% share of total exports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Philippines (with a CAGR of +24.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber seal supplying countries in South-Eastern Asia were Vietnam ($X), Singapore ($X) and Thailand ($X), with a combined 82% share of total exports. Malaysia, Indonesia and the Philippines lagged somewhat behind, together accounting for a further 18%.

Among the main exporting countries, the Philippines, with a CAGR of +17.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2018 an increase of 14% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+7.4%), while the other leaders experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports in South-Eastern Asia

After six years of growth, overseas purchases of seals of vulcanised rubber decreased by -1.6% to X tons in 2022. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.3% 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 +57.2% against 2014 indices. The pace of growth was the most pronounced in 2014 with an increase of 25%. The volume of import peaked at X tons in 2021, and then dropped slightly in the following year.

In value terms, vulcanised rubber seal imports reached $X in 2022. Total imports indicated measured 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, imports increased by +25.4% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 25%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons), Malaysia (X tons), Vietnam (X tons), Singapore (X tons) and the Philippines (X tons) represented the key importer of seals of vulcanised rubber in South-Eastern Asia, making up 91% of total import. It was distantly followed by Thailand (X tons), committing a 6.3% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +15.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber seal importing markets in South-Eastern Asia were Singapore ($X), Indonesia ($X) and Vietnam ($X), together accounting for 67% of total imports. Malaysia, the Philippines and Thailand lagged somewhat behind, together accounting for a further 31%.

The Philippines, with a CAGR of +16.5%, saw the highest growth rate of the value of imports, among 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 2022, the import price in South-Eastern Asia amounted to $X per ton, surging by 3.6% against the previous year. Overall, the import price, however, showed a slight curtailment. The pace of growth was the most pronounced in 2018 an increase of 6.7% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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