Vulcanised Rubber Erases Market

The global market for erasers of vulcanised rubber is projected to show positive growth in both volume and value terms from 2022 to 2030. China is the largest consumer and producer of vulcanised rubber erasers, with strong export performance as well. Key importers include Mexico, the United States, and India. The average import price has fluctuated over the years, with China leading in exports and showing stable growth in export prices.

Market Forecast

Driven by increasing demand for erasers of vulcanised rubber worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market volume to 64K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.1% for the period from 2022 to 2030, which is projected to bring the market value to $285M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Erasers Of Vulcanised Rubber

In 2022, approx. 47K tons of erasers of vulcanised rubber were consumed worldwide; with a decrease of -6.6% compared with 2021. The total consumption volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak volume of 55K tons. From 2017 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global vulcanised rubber erases market revenue declined slightly to $178M in 2022, shrinking by -2.5% 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 +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $205M. From 2017 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

China (14K tons) remains the largest vulcanised rubber erases consuming country worldwide, accounting for 31% of total volume. Moreover, vulcanised rubber erases consumption in China exceeded the figures recorded by the second-largest consumer, Mexico (3.8K tons), fourfold. The third position in this ranking was taken by the United States (2.2K tons), with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +6.3%. In the other countries, the average annual rates were as follows: Mexico (+0.9% per year) and the United States (-5.6% per year).

In value terms, China ($44M) led the market, alone. The second position in the ranking was held by Mexico ($12M). It was followed by Malaysia.

In China, the vulcanised rubber erases market increased at an average annual rate of +8.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (+1.0% per year) and Malaysia (+16.0% per year).

In 2022, the highest levels of vulcanised rubber erases per capita consumption was registered in Malaysia (66 kg per 1000 persons), followed by Mexico (29 kg per 1000 persons), Iraq (26 kg per 1000 persons) and Italy (17 kg per 1000 persons), while the world average per capita consumption of vulcanised rubber erases was estimated at 6 kg per 1000 persons.

In Malaysia, vulcanised rubber erases per capita consumption expanded at an average annual rate of +13.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (0.0% per year) and Iraq (+7.2% per year).

Production

World Production of Erasers Of Vulcanised Rubber

After two years of growth, production of erasers of vulcanised rubber decreased by -0.5% to 58K tons in 2022. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 0.9% against the previous year. As a result, production attained the peak volume of 59K tons. From 2019 to 2022, global production growth failed to regain momentum.

In value terms, vulcanised rubber erases production totaled $199M in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 22%. As a result, production reached the peak level of $241M. From 2017 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

China (50K tons) constituted the country with the largest volume of vulcanised rubber erases production, accounting for 87% of total volume. It was followed by Mexico (1.6K tons), with a 2.8% share of total production. The third position in this ranking was held by Malaysia (1.4K tons), with a 2.5% share.

In China, vulcanised rubber erases production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (+0.6% per year) and Malaysia (+1.0% per year).

Imports

World Imports of Erasers Of Vulcanised Rubber

In 2022, overseas purchases of erasers of vulcanised rubber increased by 50% to 37K tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Global imports peaked at 42K tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, vulcanised rubber erases imports soared to $151M in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, Mexico (3.5K tons), followed by the United States (2.3K tons) and India (1.8K tons) represented the key importers of erasers of vulcanised rubber, together constituting 21% of total imports. Indonesia (1.5K tons), Malaysia (1.4K tons), Brazil (1.2K tons), Iraq (1.1K tons), Italy (1K tons), Pakistan (1K tons), Greece (1K tons), Russia (1K tons), South Africa (0.9K tons) and the Netherlands (0.9K tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +28.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber erases importing markets worldwide were the United States ($10M), Mexico ($10M) and Malaysia ($7.2M), together accounting for 18% of global imports. Italy, Iraq, Russia, the Netherlands, Indonesia, Brazil, Pakistan, India, Greece and South Africa lagged somewhat behind, together accounting for a further 23%.

Greece, with a CAGR of +19.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average vulcanised rubber erases import price amounted to $4,096 per ton, with a decrease of -7.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 16% against the previous year. As a result, import price attained the peak level of $4,423 per ton, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($5,102 per ton), while South Africa ($1,168 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+6.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Erasers Of Vulcanised Rubber

In 2022, shipments abroad of erasers of vulcanised rubber was finally on the rise to reach 47K tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, showed a relatively flat trend pattern. The global exports peaked at 50K tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, vulcanised rubber erases exports surged to $207M in 2022. The total export value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

China prevails in exports structure, resulting at 36K tons, which was near 77% of total exports in 2022. It was distantly followed by India (2.1K tons), mixing up a 4.5% share of total exports. Mexico (1,304 tons), Spain (1,044 tons), Greece (858 tons) and Taiwan (Chinese) (725 tons) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -1.6% from 2012 to 2022. At the same time, Greece (+128.8%), Mexico (+12.1%), India (+10.6%) and Spain (+3.9%) displayed positive paces of growth. Moreover, Greece emerged as the fastest-growing exporter exported in the world, with a CAGR of +128.8% from 2012-2022. By contrast, Taiwan (Chinese) (-2.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, Mexico and Greece increased by +3, +1.9 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($144M) remains the largest vulcanised rubber erases supplier worldwide, comprising 70% of global exports. The second position in the ranking was held by Spain ($7M), with a 3.4% share of global exports. It was followed by Mexico, with a 2.7% share.

In China, vulcanised rubber erases exports increased at an average annual rate of +3.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Spain (+7.2% per year) and Mexico (+7.8% per year).

Export Prices By Country

In 2022, the average vulcanised rubber erases export price amounted to $4,373 per ton, reducing by -3.6% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vulcanised rubber erases export price increased by +26.7% against 2017 indices. The pace of growth was the most pronounced in 2016 an increase of 24%. Over the period under review, the average export prices reached the peak figure at $4,535 per ton in 2021, and then fell slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Spain ($6,727 per ton), while India ($2,055 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform