Singapore: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Singapore

The Singaporean vulcanised rubber seal market reduced modestly to $X in 2022, falling by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Vulcanised rubber seal consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Vulcanised Rubber Seal Production in Singapore

In value terms, vulcanised rubber seal production expanded significantly to $X in 2022 estimated in export price. Overall, production saw a buoyant expansion. The growth pace was the most rapid in 2014 when the production volume increased by X%. Vulcanised rubber seal production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

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Vulcanised Rubber Seal Exports

Exports from Singapore

In 2022, overseas shipments of seals of vulcanised rubber increased by X% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, vulcanised rubber seal exports rose rapidly to $X in 2022. Over the period under review, total exports indicated a prominent increase 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Indonesia (X tons), Malaysia (X tons) and Thailand (X tons) were the main destinations of vulcanised rubber seal exports from Singapore, with a combined X% share of total exports. China, the United States, India, South Korea, Vietnam, Hong Kong SAR, Australia, Myanmar, Bangladesh and Taiwan (Chinese) lagged somewhat behind, together comprising 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 Myanmar (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Thailand ($X) appeared to be the largest markets for vulcanised rubber seal exported from Singapore worldwide, with a combined X% share of total exports. The United States, China, India, South Korea, Vietnam, Hong Kong SAR, Australia, Bangladesh, Taiwan (Chinese) and Myanmar lagged somewhat behind, together comprising a further X%.

Bangladesh, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The export price peaked at $X per ton in 2021, and then reduced in the following year.

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

Vulcanised Rubber Seal Imports

Imports into Singapore

In 2022, purchases abroad of seals of vulcanised rubber increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, vulcanised rubber seal imports rose significantly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

The United States (X tons), Indonesia (X tons) and China (X tons) were the main suppliers of vulcanised rubber seal imports to Singapore, together comprising X% of total imports. Japan, Malaysia, Thailand, Italy, Taiwan (Chinese), Germany, Sweden, Mexico, South Korea and the UK lagged somewhat behind, together comprising a further X%.

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

In value terms, the United States ($X), China ($X) and Indonesia ($X) constituted the largest vulcanised rubber seal suppliers to Singapore, together comprising X% of total imports. Japan, Malaysia, Thailand, Italy, the UK, Taiwan (Chinese), Germany, Sweden, Mexico and South Korea lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Mexico, with a CAGR of X%, 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

In 2022, the average vulcanised rubber seal import price amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for South Korea ($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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