Uruguay: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Uruguay

The Uruguayan vulcanised rubber seal market reached $X in 2022, surging by 7.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2015; afterwards, it flattened through to 2022.

Vulcanised Rubber Seal Exports

Exports from Uruguay

After two years of decline, overseas shipments of seals of vulcanised rubber increased by 446% to X tons in 2022. In general, exports posted buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, vulcanised rubber seal exports surged to $X in 2022. Over the period under review, exports recorded a buoyant expansion. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Paraguay (X tons) was the main destination for vulcanised rubber seal exports from Uruguay, accounting for a 84% share of total exports. Moreover, vulcanised rubber seal exports to Paraguay exceeded the volume sent to the second major destination, Argentina (X kg), more than tenfold. Brazil (X kg) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume to Paraguay totaled +47.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+0.3% per year) and Brazil (+11.8% per year).

In value terms, the largest markets for vulcanised rubber seal exported from Uruguay were Paraguay ($X), Argentina ($X) and Brazil ($X), with a combined 96% share of total exports.

Paraguay, with a CAGR of +26.9%, saw 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

The average vulcanised rubber seal export price stood at $X per ton in 2022, which is down by -19.1% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 97% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Free Zones ($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 Mexico (+41.1%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Uruguay

In 2022, the amount of seals of vulcanised rubber imported into Uruguay shrank modestly to X tons, stabilizing at the previous year's figure. Overall, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% 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 +65.0% against 2017 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 33%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, vulcanised rubber seal imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 30%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

China (X tons), Brazil (X tons) and Costa Rica (X tons) were the main suppliers of vulcanised rubber seal imports to Uruguay, with a combined 49% share of total imports. Italy, the United States, Spain, Germany, Argentina, South Korea, Sweden and Taiwan (Chinese) lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +15.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber seal suppliers to Uruguay were the United States ($X), Brazil ($X) and Germany ($X), together accounting for 43% of total imports. Italy, China, Costa Rica, Spain, Sweden, Argentina, South Korea and Taiwan (Chinese) lagged somewhat behind, together comprising a further 35%.

In terms of the main suppliers, Spain, with a CAGR of +10.3%, saw 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, picking up by 13% against the previous year. Over the period under review, the import price, however, recorded a mild decline. The most prominent rate of growth was recorded in 2017 when the average import price increased by 39%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 Germany ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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