Southern Asia: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Southern Asia

The South Asian vulcanised rubber seal market totaled $X in 2022, approximately equating the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Vulcanised Rubber Seal Production in Southern Asia

In value terms, vulcanised rubber seal production shrank to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +8.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.8% against 2017 indices. The pace of growth was the most pronounced in 2013 with an increase of 38%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Vulcanised Rubber Seal Exports

Exports in Southern Asia

In 2022, approx. X tons of seals of vulcanised rubber were exported in Southern Asia; falling by -16.7% on the previous year. In general, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 52%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then reduced markedly in the following year.

In value terms, vulcanised rubber seal exports contracted remarkably to $X in 2022. Overall, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by 46%. As a result, the exports reached the peak of $X, and then fell remarkably in the following year.

Exports by Country

India prevails in exports structure, finishing at X tons, which was approx. 91% of total exports in 2022. It was distantly followed by Sri Lanka (X tons), committing an 8.2% share of total exports.

India was also the fastest-growing in terms of the seals of vulcanised rubber exports, with a CAGR of +5.4% from 2012 to 2022. At the same time, Sri Lanka (+3.7%) displayed positive paces of growth. From 2012 to 2022, the share of India increased by +2.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest vulcanised rubber seal supplier in Southern Asia, comprising 91% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +11.1%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, surging by 1.5% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. The growth pace was the most rapid in 2013 an increase of 46%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while India amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.4%).

Vulcanised Rubber Seal Imports

Imports in Southern Asia

In 2022, approx. X tons of seals of vulcanised rubber were imported in Southern Asia; dropping by -16.1% compared with 2021 figures. In general, imports recorded a noticeable descent. The pace of growth was the most pronounced in 2018 with an increase of 63% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, vulcanised rubber seal imports reached $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +37.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 34% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

India dominates imports structure, resulting at X tons, which was near 84% of total imports in 2022. It was distantly followed by Bangladesh (X tons), committing a 6.5% share of total imports. The following importers - Nepal (X tons), Sri Lanka (X tons) and Pakistan (X tons) - together made up 8.2% of total imports.

Imports into India decreased at an average annual rate of -4.1% from 2012 to 2022. At the same time, Nepal (+15.7%), Bangladesh (+8.9%) and Sri Lanka (+5.7%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +15.7% from 2012-2022. By contrast, Pakistan (-1.5%) illustrated a downward trend over the same period. While the share of Bangladesh (+4.5 p.p.) and Nepal (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of India (-9.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported seals of vulcanised rubber in Southern Asia, comprising 87% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 4.7% share of total imports. It was followed by Pakistan, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value in India stood at +4.2%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+15.1% per year) and Pakistan (+1.5% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, jumping by 22% against the previous year. Import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vulcanised rubber seal import price increased by +42.0% against 2018 indices. The growth pace was the most rapid in 2013 when the import price increased by 39% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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