China's Vulcanised Rubber Seals Market to Grow at CAGR of +3.0% Over Next Decade - News and Statistics - IndexBox

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IndexBox has just published a new report: China - Seals Of Vulcanised Rubber - Market Analysis, Forecast, Size, Trends And Insights.

The market for seals of vulcanised rubber in China is expected to see steady growth in both volume and value over the next decade. With an anticipated CAGR of +3.0% in market volume and +3.4% in market value from 2024 to 2035, the market is on track to reach 2M tons and $26.3B respectively by the end of 2035.

Driven by increasing demand for seals of vulcanised rubber in China, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.0% for the period from 2024 to 2035, which is projected to bring the market volume to 2M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.4% for the period from 2024 to 2035, which is projected to bring the market value to $26.3B (in nominal wholesale prices) by the end of 2035.

In 2024, the amount of seals of vulcanised rubber consumed in China shrank modestly to 1.4M tons, flattening at 2023. Over the period under review, the total consumption indicated buoyant growth from 2013 to 2024: its volume increased at an average annual rate of +6.8% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -2.1% against 2021 indices. Vulcanised rubber seal consumption peaked at 1.5M tons in 2021; however, from 2022 to 2024, consumption remained at a lower figure.

The size of the vulcanised rubber seal market in China amounted to $18.3B in 2024, therefore, remained relatively stable 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). In general, the total consumption indicated strong growth from 2013 to 2024: its value increased at an average annual rate of +7.4% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -2.4% against 2022 indices. Vulcanised rubber seal consumption peaked at $18.8B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

Vulcanised rubber seal production in China dropped slightly to 1.5M tons in 2024, therefore, remained relatively stable against the previous year's figure. Overall, the total production indicated buoyant growth from 2013 to 2024: its volume increased at an average annual rate of +6.8% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -0.2% against 2021 indices. The most prominent rate of growth was recorded in 2015 with an increase of 15% against the previous year. Vulcanised rubber seal production peaked at 1.5M tons in 2021; afterwards, it flattened through to 2024.

In value terms, vulcanised rubber seal production totaled $19.9B in 2024 estimated in export price. Over the period under review, the total production indicated resilient growth from 2013 to 2024: its value increased at an average annual rate of +7.5% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -1.5% against 2022 indices. The growth pace was the most rapid in 2014 when the production volume increased by 17% against the previous year. Vulcanised rubber seal production peaked at $20.2B in 2022; however, from 2023 to 2024, production remained at a lower figure.

In 2024, approx. 18K tons of seals of vulcanised rubber were imported into China; which is down by -6.3% compared with 2023 figures. In general, imports recorded a pronounced contraction. The growth pace was the most rapid in 2014 with an increase of 8.6%. Over the period under review, imports hit record highs at 29K tons in 2018; however, from 2019 to 2024, imports failed to regain momentum.

In value terms, vulcanised rubber seal imports dropped to $1.1B in 2024. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. As a result, imports reached the peak of $1.5B. From 2022 to 2024, the growth of imports remained at a somewhat lower figure.

In 2024, Germany (3.9K tons) constituted the largest vulcanised rubber seal supplier to China, with a 22% share of total imports. Moreover, vulcanised rubber seal imports from Germany exceeded the figures recorded by the second-largest supplier, Japan (1.8K tons), twofold. The Czech Republic (1.6K tons) ranked third in terms of total imports with an 8.7% share.

From 2013 to 2024, the average annual growth rate of volume from Germany amounted to -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.4% per year) and the Czech Republic (+18.4% per year).

In value terms, the largest vulcanised rubber seal suppliers to China were the United States ($184M), Japan ($167M) and Germany ($155M), together accounting for 45% of total imports. France, Italy, Taiwan (Chinese), South Korea, Mexico, Poland, the Czech Republic, Vietnam and Malaysia lagged somewhat behind, together comprising a further 33%.

Vietnam, with a CAGR of +19.8%, 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.

In 2024, the average vulcanised rubber seal import price amounted to $61,571 per ton, remaining stable against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +2.6%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 8.6%. Over the period under review, average import prices hit record highs in 2024 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($360,024 per ton), while the price for the Czech Republic ($11,079 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United States (+15.3%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, vulcanised rubber seal exports from China expanded significantly to 121K tons, picking up by 13% on the previous year's figure. In general, total exports indicated a moderate expansion from 2013 to 2024: its volume increased at an average annual rate of +4.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +48.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 25% against the previous year. Over the period under review, the exports attained the maximum in 2024 and are expected to retain growth in years to come.

In value terms, vulcanised rubber seal exports rose to $1.5B in 2024. Over the period under review, total exports indicated notable growth from 2013 to 2024: its value increased at an average annual rate of +4.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +53.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 34% against the previous year. The exports peaked in 2024 and are likely to see steady growth in the immediate term.

The United States (22K tons) was the main destination for vulcanised rubber seal exports from China, accounting for a 18% share of total exports. Moreover, vulcanised rubber seal exports to the United States exceeded the volume sent to the second major destination, Vietnam (7.6K tons), threefold. Japan (7.5K tons) ranked third in terms of total exports with a 6.2% share.

From 2013 to 2024, the average annual growth rate of volume to the United States stood at +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+20.7% per year) and Japan (-2.0% per year).

In value terms, the United States ($250M) remains the key foreign market for seals of vulcanised rubber exports from China, comprising 17% of total exports. The second position in the ranking was held by Japan ($90M), with a 6% share of total exports. It was followed by Vietnam, with a 5.7% share.

From 2013 to 2024, the average annual growth rate of value to the United States amounted to +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-3.3% per year) and Vietnam (+18.7% per year).

In 2024, the average vulcanised rubber seal export price amounted to $12,259 per ton, which is down by -8.7% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 an increase of 7.8%. As a result, the export price attained the peak level of $13,597 per ton. From 2023 to 2024, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2024, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($18,397 per ton), while the average price for exports to the UK ($10,064 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the vulcanised rubber seal market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

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