Venezuela: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Venezuela

The Venezuelan vulcanised rubber seal market fell sharply to $X in 2022, with a decrease of -20.2% 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). Over the period under review, consumption continues to indicate a significant decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vulcanised Rubber Seal Exports

Exports from Venezuela

In 2022, shipments abroad of seals of vulcanised rubber increased by 14% to X tons, rising for the second consecutive year after four years of decline. Overall, exports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2016 when exports increased by 161% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, vulcanised rubber seal exports expanded modestly to $X in 2022. Over the period under review, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2013 with an increase of 94%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Mozambique (X tons) was the main destination for vulcanised rubber seal exports from Venezuela, with a 76% share of total exports. Moreover, vulcanised rubber seal exports to Mozambique exceeded the volume sent to the second major destination, Tanzania (X kg), more than tenfold. The third position in this ranking was held by Ireland (X kg), with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume to Mozambique stood at +195.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (0.0% per year) and Ireland (0.0% per year).

In value terms, Mozambique ($X) emerged as the key foreign market for seals of vulcanised rubber exports from Venezuela, comprising 58% of total exports. The second position in the ranking was taken by Tanzania ($X), with an 8.2% share of total exports. It was followed by Chile, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Mozambique amounted to +133.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (0.0% per year) and Chile (+17.5% per year).

Export Prices by Country

The average vulcanised rubber seal export price stood at $X per ton in 2022, falling by -10.5% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 66% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Ireland ($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 India (+37.5%), while the prices for the other major destinations experienced mixed trend patterns.

Vulcanised Rubber Seal Imports

Imports into Venezuela

In 2022, approx. X tons of seals of vulcanised rubber were imported into Venezuela; with a decrease of -15% against the previous year. Overall, imports recorded a sharp setback. The growth pace was the most rapid in 2021 with an increase of 48%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, vulcanised rubber seal imports fell notably to $X in 2022. In general, imports showed a dramatic decline. The most prominent rate of growth was recorded in 2021 when imports increased by 78% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of vulcanised rubber seal to Venezuela, with a 62% share of total imports. Moreover, vulcanised rubber seal imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was taken by Brazil (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-24.8% per year) and Brazil (-13.9% per year).

In value terms, China ($X), Brazil ($X) and the United States ($X) were the largest vulcanised rubber seal suppliers to Venezuela, together accounting for 61% of total imports. Mexico and Turkey lagged somewhat behind, together comprising a further 1.4%.

Among the main suppliers, Turkey, with a CAGR of -5.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average vulcanised rubber seal import price stood at $X per ton in 2022, waning by -8.1% against the previous year. Overall, the import price saw a perceptible downturn. The growth pace was the most rapid in 2018 an increase of 38% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+3.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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