Spain: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Spain

After two years of growth, the Spanish vulcanised rubber seal market decreased by -2.9% to $X in 2022. Over the period under review, consumption, however, showed a deep downturn. The pace of growth was the most pronounced in 2020 when the market value increased by 6% against the previous year. Vulcanised rubber seal consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vulcanised Rubber Seal Production in Spain

In value terms, vulcanised rubber seal production fell markedly to $X in 2022 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 +26.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by 54% against the previous year. As a result, production reached the peak level of $X, and then dropped rapidly in the following year.

Vulcanised Rubber Seal Exports

Exports from Spain

In 2022, approx. X tons of seals of vulcanised rubber were exported from Spain; waning by -9.1% compared with the previous year. In general, total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +3.9% 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 +40.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 55% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, vulcanised rubber seal exports shrank to $X in 2022. Overall, exports, however, recorded a mild increase. The pace of growth appeared the most rapid in 2021 when exports increased by 39%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

France (X tons), the United States (X tons) and the UK (X tons) were the main destinations of vulcanised rubber seal exports from Spain, together comprising 44% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +35.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and France ($X) constituted the largest markets for vulcanised rubber seal exported from Spain worldwide, together comprising 35% of total exports.

The United States, with a CAGR of +18.5%, recorded the highest rates of growth with regard to 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, stabilizing at the previous year. In general, the export price, however, continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2020 an increase of 29%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Mexico ($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 Morocco (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Spain

After two years of decline, supplies from abroad of seals of vulcanised rubber increased by 6.1% to X tons in 2022. In general, imports saw strong growth. The growth pace was the most rapid in 2014 with an increase of 96%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, vulcanised rubber seal imports dropped modestly to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +5.5% against 2020 indices. The pace of growth was the most pronounced in 2014 when imports increased by 32%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

France (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of vulcanised rubber seal imports to Spain, together accounting for 70% of total imports. China, Morocco, Poland, Portugal, the United States and Turkey lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +163.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber seal suppliers to Spain were Germany ($X), France ($X) and Italy ($X), together comprising 50% of total imports. Morocco, the United States, China, Poland, Turkey and Portugal lagged somewhat behind, together accounting for a further 26%.

In terms of the main suppliers, Morocco, with a CAGR of +162.2%, recorded the highest growth rate of 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

The average vulcanised rubber seal import price stood at $X per ton in 2022, falling by -6.9% against the previous year. Overall, the import price recorded a perceptible downturn. The most prominent rate of growth was recorded in 2017 an increase of 37%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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