Asia-Pacific: Vulcanised Rubber Thread Market 2023

Vulcanised Rubber Thread Market Size in Asia-Pacific

In 2021, after two years of decline, there was significant growth in the Asia-Pacific vulcanised rubber thread market, when its value increased by 23% to $X. The total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Vulcanised Rubber Thread Production in Asia-Pacific

In value terms, vulcanised rubber thread production reached $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 29% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Vulcanised Rubber Thread Exports

Exports in Asia-Pacific

In 2021, exports of vulcanised rubber thread and cord in Asia-Pacific skyrocketed to X tons, picking up by 16% against 2020. The total export volume increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, vulcanised rubber thread exports soared to $X in 2021. Total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +40.6% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand represented the major exporting country with an export of about X tons, which amounted to 59% of total exports. Malaysia (X tons) took the second position in the ranking, distantly followed by China (X tons). All these countries together held approx. 35% share of total exports. The following exporters - India (X tons) and Vietnam (X tons) - each amounted to a 3.7% share of total exports.

Exports from Thailand increased at an average annual rate of +4.8% from 2012 to 2021. At the same time, Vietnam (+26.2%) and India (+24.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +26.2% from 2012-2021. China and Malaysia experienced a relatively flat trend pattern. Thailand (+9.6 p.p.), India (+1.6 p.p.) and Vietnam (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while China and Malaysia saw its share reduced by -1.7% and -6% from 2012 to 2021, respectively.

In value terms, Thailand ($X) remains the largest vulcanised rubber thread supplier in Asia-Pacific, comprising 55% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 25% share of total exports. It was followed by China, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Thailand stood at +2.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-0.8% per year) and China (+4.3% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, jumping by 24% against the previous year. Overall, the export price, however, continues to indicate a mild shrinkage. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.4%), while the other leaders experienced a decline in the export price figures.

Vulcanised Rubber Thread Imports

Imports in Asia-Pacific

In 2021, approx. X tons of vulcanised rubber thread and cord were imported in Asia-Pacific; with an increase of 21% against 2020 figures. Total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by 37%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, vulcanised rubber thread imports skyrocketed to $X in 2021. Total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China dominates imports structure, reaching X tons, which was near 72% of total imports in 2021. Bangladesh (X tons) took an 8.3% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (5.5%). Vietnam (X tons), South Korea (X tons), Taiwan (Chinese) (X tons) and India (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of +9.0% from 2012 to 2021. At the same time, Bangladesh (+14.3%) and Indonesia (+4.0%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +14.3% from 2012-2021. South Korea and India experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-10.9%) and Vietnam (-12.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Bangladesh increased by +22 and +4.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported vulcanised rubber thread and cord in Asia-Pacific, comprising 70% of total imports. The second position in the ranking was taken by Bangladesh ($X), with an 8.2% share of total imports. It was followed by Indonesia, with a 6% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +7.5%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+12.4% per year) and Indonesia (+5.3% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, growing by 31% against the previous year. In general, the import price, however, showed a slight decline. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Vietnam ($X per ton) and Indonesia ($X per ton), while China ($X per ton) and Bangladesh ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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