Spain: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in Spain

In 2021, the Spanish vulcanised rubber thread market decreased by -11.3% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, recorded a abrupt contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Vulcanised Rubber Thread Production in Spain

In value terms, vulcanised rubber thread production fell notably to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2018 when the production volume increased by 28% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Vulcanised Rubber Thread Exports

Exports from Spain

In 2021, approx. X tons of vulcanised rubber thread and cord were exported from Spain; falling by -16.2% on the previous year. Over the period under review, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 143% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, vulcanised rubber thread exports reduced to $X in 2021. In general, total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +25.1% against 2017 indices. The pace of growth appeared the most rapid in 2013 with an increase of 107%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Morocco (X tons) was the main destination for vulcanised rubber thread exports from Spain, with a 39% share of total exports. Moreover, vulcanised rubber thread exports to Morocco exceeded the volume sent to the second major destination, Mauritania (X tons), threefold. Gibraltar (X tons) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Morocco totaled +69.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritania (+97.8% per year) and Gibraltar (-13.2% per year).

In value terms, Morocco ($X), Mauritania ($X) and the UK ($X) constituted the largest markets for vulcanised rubber thread exported from Spain worldwide, together accounting for 41% of total exports.

The UK, with a CAGR of +187.0%, recorded 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 2021, the average vulcanised rubber thread export price amounted to $X per ton, picking up by 3.9% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average export price increased by 43% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Morocco ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Senegal (+7.8%), while the prices for the other major destinations experienced mixed trend patterns.

Vulcanised Rubber Thread Imports

Imports into Spain

In 2021, after two years of growth, there was decline in purchases abroad of vulcanised rubber thread and cord, when their volume decreased by -4.5% to X tons. Over the period under review, total imports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +13.3% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 40%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, vulcanised rubber thread imports skyrocketed to $X in 2021. Overall, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +43.3% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 34%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X tons) constituted the largest vulcanised rubber thread supplier to Spain, accounting for a 71% share of total imports. Moreover, vulcanised rubber thread imports from Thailand exceeded the figures recorded by the second-largest supplier, Portugal (X tons), sixfold. Malaysia (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+84.6% per year) and Malaysia (-6.1% per year).

In value terms, Thailand ($X) constituted the largest supplier of vulcanised rubber thread and cord to Spain, comprising 63% of total imports. The second position in the ranking was held by Malaysia ($X), with an 8.6% share of total imports. It was followed by Italy, with a 7% share.

From 2012 to 2021, the average annual growth rate of value from Thailand totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-6.4% per year) and Italy (+24.8% per year).

Import Prices by Country

The average vulcanised rubber thread import price stood at $X per ton in 2021, increasing by 36% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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