United Kingdom: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in the UK

In 2022, after three years of decline, there was growth in the UK vulcanised rubber seal market, when its value increased by 1.8% to $X. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Vulcanised Rubber Seal Production in the UK

In value terms, vulcanised rubber seal production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 8.7% against the previous year. Vulcanised rubber seal production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Vulcanised Rubber Seal Exports

Exports from the UK

After two years of growth, shipments abroad of seals of vulcanised rubber decreased by -16.9% to X tons in 2022. Over the period under review, exports showed a noticeable decline. The pace of growth was the most pronounced in 2014 with an increase of 20%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, vulcanised rubber seal exports totaled $X in 2022. The total export value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when exports increased by 20% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Romania (X tons), the United States (X tons) and Germany (X tons) were the main destinations of vulcanised rubber seal exports from the UK, together accounting for 31% of total exports. France, Belgium, China, Poland, the Netherlands, Ireland, India, the United Arab Emirates, Turkey and Canada lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +13.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and France ($X) were the largest markets for vulcanised rubber seal exported from the UK worldwide, with a combined 33% share of total exports. China, the Netherlands, India, Romania, Poland, Canada, the United Arab Emirates, Ireland, Turkey and Belgium lagged somewhat behind, together accounting for a further 27%.

Among the main countries of destination, Romania, with a CAGR of +12.1%, recorded the highest rates of growth with regard to 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 average vulcanised rubber seal export price amounted to $X per ton, jumping by 23% against the previous year. Overall, the export price saw a resilient increase. The most prominent rate of growth was recorded in 2019 an increase of 51% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

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 the United States ($X per ton), while the average price for exports to Romania ($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 the Netherlands (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into the UK

In 2022, purchases abroad of seals of vulcanised rubber increased by 9.2% to X tons, rising for the second year in a row after four years of decline. In general, imports, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 16% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, vulcanised rubber seal imports stood at $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 17% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Poland (X tons), Germany (X tons) and France (X tons) were the main suppliers of vulcanised rubber seal imports to the UK, with a combined 49% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +18.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber seal suppliers to the UK were the United States ($X), Poland ($X) and Germany ($X), with a combined 43% share of total imports. France, China, Taiwan (Chinese), Italy, Spain, India, the Czech Republic, the Netherlands, Thailand and Romania lagged somewhat behind, together comprising a further 38%.

In terms of the main suppliers, Romania, with a CAGR of +24.1%, recorded the highest rates of growth with regard to 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, with a decrease of -8% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% 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 decreased by -27.1% against 2019 indices. The growth pace was the most rapid in 2013 when the average import price increased by 57% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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