ASEAN: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in ASEAN

In 2023, the ASEAN vulcanised rubber thread market increased by X% to $X, rising for the third consecutive year after three years of decline. In general, consumption saw prominent growth. Over the period under review, the market reached the maximum level in 2023 and is likely to continue growth in the near future.

Vulcanised Rubber Thread Production in ASEAN

In value terms, vulcanised rubber thread production shrank to $X in 2023 estimated in export price. Over the period under review, production, however, saw a mild contraction. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Vulcanised Rubber Thread Exports

Exports in ASEAN

In 2023, shipments abroad of vulcanised rubber thread and cord decreased by X% to X tons, falling for the second consecutive year after seven years of growth. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, vulcanised rubber thread exports dropped dramatically to $X in 2023. Over the period under review, exports recorded a perceptible slump. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, Thailand (X tons) was the key exporter of vulcanised rubber thread and cord, achieving X% of total exports. It was distantly followed by Malaysia (X tons), mixing up a X% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

Exports from Thailand increased at an average annual rate of X% from 2012 to 2023. At the same time, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Malaysia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Thailand and Vietnam increased by X and X percentage points, respectively.

In value terms, Thailand ($X) remains the largest vulcanised rubber thread supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Thailand stood at X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, reducing by X% against the previous year. In general, the export price recorded a pronounced shrinkage. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the export price figures.

Vulcanised Rubber Thread Imports

Imports in ASEAN

In 2023, approx. X tons of vulcanised rubber thread and cord were imported in ASEAN; with a decrease of X% against 2022 figures. Total imports indicated a strong expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2016 when imports increased by X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, vulcanised rubber thread imports dropped to $X in 2023. Total imports indicated a perceptible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then shrank in the following year.

Imports by Country

Indonesia (X tons) and Vietnam (X tons) prevails in imports structure, together creating X% of total imports. The following importers - the Philippines (X tons), Malaysia (X tons) and Cambodia (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Cambodia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber thread importing markets in ASEAN were Indonesia ($X), Vietnam ($X) and Malaysia ($X), together comprising X% of total imports. The Philippines and Cambodia lagged somewhat behind, together accounting for a further X%.

Cambodia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in ASEAN amounted to $X per ton, shrinking by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Vietnam ($X per ton) and Cambodia ($X per ton), while the Philippines ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cambodia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform