Sri Lanka: Vulcanised Rubber Seal Market 2024

Vulcanised Rubber Seal Market Size in Sri Lanka

The Sri Lankan vulcanised rubber seal market soared to $X in 2022, picking up by X% against the previous year. In general, the total consumption indicated strong 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, consumption increased by X% against 2019 indices. Vulcanised rubber seal consumption peaked in 2022 and is expected to retain growth in years to come.

Vulcanised Rubber Seal Production in Sri Lanka

In value terms, vulcanised rubber seal production totaled $X in 2022 estimated in export price. In general, the total production indicated a prominent expansion 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Vulcanised Rubber Seal Exports

Exports from Sri Lanka

In 2022, the amount of seals of vulcanised rubber exported from Sri Lanka dropped significantly to X tons, falling by X% against 2021. In general, exports, however, enjoyed a measured expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then dropped significantly in the following year.

In value terms, vulcanised rubber seal exports shrank dramatically to $X in 2022. Over the period under review, exports, however, posted a slight increase. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

Sweden (X tons) was the main destination for vulcanised rubber seal exports from Sri Lanka, with a X% share of total exports. Moreover, vulcanised rubber seal exports to Sweden exceeded the volume sent to the second major destination, the United States (X tons), threefold. France (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and France (X% per year).

In value terms, Sweden ($X) remains the key foreign market for seals of vulcanised rubber exports from Sri Lanka, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Japan, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Japan (X% per year).

Export Prices by Country

The average vulcanised rubber seal export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the export price saw a noticeable setback. The pace of growth was the most pronounced in 2018 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

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 China ($X per ton), while the average price for exports to Norway ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Seal Imports

Imports into Sri Lanka

In 2022, vulcanised rubber seal imports into Sri Lanka reduced notably to X tons, declining by X% against the year before. In general, imports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then declined dramatically in the following year.

In value terms, vulcanised rubber seal imports contracted dramatically to $X in 2022. Overall, imports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then shrank dramatically in the following year.

Imports by Country

India (X tons), China (X tons) and Japan (X tons) were the main suppliers of vulcanised rubber seal imports to Sri Lanka, with a combined X% share of total imports. France, the United Arab Emirates, Hong Kong SAR, Taiwan (Chinese), Thailand, Singapore and Germany lagged somewhat behind, together comprising a further X%.

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

In value terms, India ($X), China ($X) and Japan ($X) were the largest vulcanised rubber seal suppliers to Sri Lanka, together comprising X% of total imports.

In terms of the main suppliers, China, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average vulcanised rubber seal import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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