Extruded Solid Rubber Rod Market

The global extruded solid rubber rod market is expected to experience an upward trend in consumption over the next eight years, with a forecasted CAGR of +0.9% in volume and +2.9% in value from 2022 to 2030. Consumption reached 948K tons in 2022 after an eight-year decline, with China, the US, and India leading in consumption. Production peaked in 2013 at 1.3M tons, with a drop to 956K tons in 2022. Germany and the Czech Republic were the major exporters of extruded solid rubber rods, while Germany and the US were the top importers. Price trends showed a slight decrease in average import prices but an increase in average export prices in 2022.

Market Forecast

Driven by rising demand for extruded solid rubber rod worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.9% for the period from 2022 to 2030, which is projected to bring the market volume to 1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $8.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Extruded Solid Rubber Rods And Profiles

In 2022, consumption of extruded solid rubber rods and profiles was finally on the rise to reach 948K tons for the first time since 2013, thus ending a eight-year declining trend. Overall, consumption, however, saw a pronounced shrinkage. Global consumption peaked at 1.3M tons in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

The global extruded solid rubber rod market revenue rose modestly to $6.4B in 2022, picking up by 2.1% 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). Over the period under review, consumption, however, continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2019 when the market value increased by 7.2%. Over the period under review, the global market attained the peak level at $9.3B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (258K tons), the United States (175K tons) and India (106K tons), with a combined 57% share of global consumption. Japan, Brazil, Slovakia, Germany, Turkey, Canada and South Korea lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +2.5%), while consumption for the other global leaders experienced a decline in the consumption figures.

In value terms, the largest extruded solid rubber rod markets worldwide were the United States ($1.8B), China ($1.1B) and Japan ($737M), together comprising 58% of the global market. Turkey, India, Brazil, Germany, Canada, Slovakia and South Korea lagged somewhat behind, together accounting for a further 22%.

Among the main consuming countries, Slovakia, with a CAGR of +2.5%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced mixed trends in the market figures.

The countries with the highest levels of extruded solid rubber rod per capita consumption in 2022 were the United States (523 kg per 1000 persons), Canada (383 kg per 1000 persons) and Japan (344 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +2.4%), while consumption for the other global leaders experienced a decline in the per capita consumption figures.

Production

World Production of Extruded Solid Rubber Rods And Profiles

In 2022, production of extruded solid rubber rods and profiles was finally on the rise to reach 956K tons after eight years of decline. Over the period under review, production, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2013 when the production volume increased by 1.3% against the previous year. As a result, production attained the peak volume of 1.3M tons. From 2014 to 2022, global production growth remained at a lower figure.

In value terms, extruded solid rubber rod production dropped modestly to $7.2B in 2022 estimated in export price. Overall, production, however, saw a mild setback. The most prominent rate of growth was recorded in 2019 with an increase of 49% against the previous year. As a result, production reached the peak level of $10.6B. From 2020 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (265K tons), the United States (173K tons) and India (106K tons), together accounting for 57% of global production. Germany, Japan, Slovakia, Brazil, the Czech Republic, Turkey, South Korea and Spain lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +2.1%), while production for the other global leaders experienced mixed trends in the production figures.

Imports

World Imports of Extruded Solid Rubber Rods And Profiles

In 2022, approx. 156K tons of extruded solid rubber rods and profiles were imported worldwide; picking up by 8.8% compared with the previous year's figure. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 17% against the previous year. Over the period under review, global imports hit record highs at 166K tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, extruded solid rubber rod imports reached $895M in 2022. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 21%. Global imports peaked at $957M in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports By Country

The purchases of the twelve major importers of extruded solid rubber rods and profiles, namely Germany, Greece, Poland, Russia, France, the Czech Republic, the United States, Morocco, Bulgaria, Belgium, the UK and Italy, represented more than half of total import. Vietnam (4.1K tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +27.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($88M), Poland ($47M) and France ($44M) were the countries with the highest levels of imports in 2022, together accounting for 20% of global imports. Italy, the Czech Republic, the United States, Russia, Vietnam, the UK, Belgium, Morocco, Bulgaria and Greece lagged somewhat behind, together comprising a further 31%.

Morocco, with a CAGR of +24.5%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average extruded solid rubber rod import price amounted to $5,740 per ton, shrinking by -2.9% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 9.2% against the previous year. Global import price peaked at $5,909 per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Italy ($9,448 per ton), while Greece ($175 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 (+2.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Extruded Solid Rubber Rods And Profiles

In 2022, approx. 163K tons of extruded solid rubber rods and profiles were exported worldwide; declining by -1.7% on 2021. Over the period under review, exports continue to indicate a mild shrinkage. The growth pace was the most rapid in 2021 with an increase of 16%. The global exports peaked at 195K tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, extruded solid rubber rod exports reached $1.2B in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 17% against the previous year. Over the period under review, the global exports reached the peak figure at $1.2B in 2012; afterwards, it flattened through to 2022.

Exports By Country

Germany (37K tons) and the Czech Republic (29K tons) represented the major exporters of extruded solid rubber rods and profiles in 2022, resulting at near 23% and 18% of total exports, respectively. Turkey (11K tons) held the next position in the ranking, followed by Spain (9.2K tons). All these countries together took approx. 12% share of total exports. The following exporters - China (7.2K tons), Slovakia (6.5K tons), Belarus (6.2K tons), Italy (6.1K tons), the United Arab Emirates (4.7K tons), Poland (4.4K tons), Sweden (4.3K tons), India (3.4K tons) and the United States (3.1K tons) - together made up 28% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +8.8%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($306M) remains the largest extruded solid rubber rod supplier worldwide, comprising 26% of global exports. The second position in the ranking was taken by the Czech Republic ($145M), with a 12% share of global exports. It was followed by Slovakia, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value in Germany was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: the Czech Republic (+5.7% per year) and Slovakia (+0.8% per year).

Export Prices By Country

The average extruded solid rubber rod export price stood at $7,198 per ton in 2022, rising by 1.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2013 an increase of 7.2%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($12,793 per ton), while Belarus ($3,050 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+11.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform