United Kingdom: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in the UK

The UK pharmaceutical rubber articles market fell remarkably to $X in 2021, reducing by -89.7% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then fell remarkably in the following year.

Pharmaceutical Rubber Articles Production in the UK

In value terms, pharmaceutical rubber articles production rose significantly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2018 when the production volume increased by 16%. Pharmaceutical rubber articles production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Pharmaceutical Rubber Articles Exports

Exports from the UK

Pharmaceutical rubber articles exports from the UK contracted to X units in 2021, shrinking by -9.8% against the previous year. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 51% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, pharmaceutical rubber articles exports skyrocketed to $X in 2021. Overall, exports, however, saw a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ireland (X units) was the main destination for pharmaceutical rubber articles exports from the UK, accounting for a 32% share of total exports. Moreover, pharmaceutical rubber articles exports to Ireland exceeded the volume sent to the second major destination, France (X units), threefold. The third position in this ranking was taken by Switzerland (X units), with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume to Ireland totaled +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+1.1% per year) and Switzerland (+12.2% per year).

In value terms, France ($X) emerged as the key foreign market for hygienic or pharmaceutical articles of rubber exports from the UK, comprising 28% of total exports. The second position in the ranking was taken by Ireland ($X), with a 12% share of total exports. It was followed by Switzerland, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France totaled +22.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (-1.3% per year) and Switzerland (+26.8% per year).

Export Prices by Country

In 2021, the average pharmaceutical rubber articles export price amounted to $X per unit, growing by 71% against the previous year. In general, export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pharmaceutical rubber articles export price increased by +101.1% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+26.2%), while the prices for the other major destinations experienced more modest paces of growth.

Pharmaceutical Rubber Articles Imports

Imports into the UK

Pharmaceutical rubber articles imports into the UK shrank significantly to X units in 2021, which is down by -91.5% on 2020. In general, imports, however, saw a pronounced expansion. The pace of growth was the most pronounced in 2020 when imports increased by 1,348%. As a result, imports reached the peak of X units, and then declined remarkably in the following year.

In value terms, pharmaceutical rubber articles imports dropped remarkably to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible increase. The pace of growth appeared the most rapid in 2020 with an increase of 1,395%. As a result, imports reached the peak of $X, and then dropped dramatically in the following year.

Imports by Country

In 2021, China (X units) constituted the largest pharmaceutical rubber articles supplier to the UK, accounting for a 78% share of total imports. Moreover, pharmaceutical rubber articles imports from China exceeded the figures recorded by the second-largest supplier, France (X units), ninefold. The United States (X units) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+8.0% per year) and the United States (-10.1% per year).

In value terms, China ($X) constituted the largest supplier of hygienic or pharmaceutical articles of rubber to the UK, comprising 74% of total imports. The second position in the ranking was held by France ($X), with a 6.6% share of total imports. It was followed by the United States, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-3.3% per year) and the United States (-14.3% per year).

Import Prices by Country

In 2021, the average pharmaceutical rubber articles import price amounted to $X per unit, surging by 20% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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