Azerbaijan: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Azerbaijan

In 2022, the Azerbaijani vulcanised rubber seal market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption recorded resilient growth. Vulcanised rubber seal consumption peaked in 2022 and is likely to see steady growth in the near future.

Vulcanised Rubber Seal Exports

Exports from Azerbaijan

In 2022, approx. X tons of seals of vulcanised rubber were exported from Azerbaijan; leveling off at the year before. Overall, exports enjoyed resilient growth. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, vulcanised rubber seal exports dropped to $X in 2022. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X tons), Georgia (X kg) and the UK (X kg) were the main destinations of vulcanised rubber seal exports from Azerbaijan, with a combined X% share of total exports. The United States, Kazakhstan, India and Latvia lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for vulcanised rubber seal exported from Azerbaijan were Russia ($X), the United States ($X) and Kazakhstan ($X), together comprising X% of total exports. The UK, Georgia, India and Latvia lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded 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

In 2022, the average vulcanised rubber seal export price amounted to $X per ton, falling by X% against the previous year. In general, the export price, however, showed a buoyant increase. The pace of growth was the most pronounced in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Georgia ($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 Kazakhstan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Azerbaijan

For the third consecutive year, Azerbaijan recorded growth in overseas purchases of seals of vulcanised rubber, which increased by X% to X tons in 2022. Over the period under review, imports showed a buoyant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, vulcanised rubber seal imports expanded markedly to $X in 2022. In general, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2018; afterwards, it flattened through to 2022.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of vulcanised rubber seal to Azerbaijan, accounting for a X% share of total imports. Moreover, vulcanised rubber seal imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. Russia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Russia (X% per year).

In value terms, the United States ($X), China ($X) and the UK ($X) appeared to be the largest vulcanised rubber seal suppliers to Azerbaijan, together comprising X% of total imports. Turkey, Germany, Russia, South Korea, India, the United Arab Emirates and Ukraine lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vulcanised rubber seal import price amounted to $X per ton, dropping by X% against the previous year. In general, the import price recorded a noticeable downturn. The pace of growth appeared the most rapid in 2015 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average 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 the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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