Africa's Vulcanised Rubber Seal Market Expected to See Slight Growth with +0.3% CAGR - News and Statistics - IndexBox

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

The vulcanised rubber seal market in Africa is expected to experience growth in both volume and value over the next decade. With a projected CAGR of +0.3% in volume and +1.2% in value from 2024 to 2035, the market is anticipated to reach 65K tons and $992M (in nominal wholesale prices) by the end of 2035.

Driven by rising demand for vulcanised rubber seal in Africa, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.3% for the period from 2024 to 2035, which is projected to bring the market volume to 65K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.2% for the period from 2024 to 2035, which is projected to bring the market value to $992M (in nominal wholesale prices) by the end of 2035.

In 2024, consumption of seals of vulcanised rubber increased by 2.8% to 63K tons for the first time since 2017, thus ending a six-year declining trend. In general, consumption, however, showed a mild downturn. As a result, consumption attained the peak volume of 79K tons. From 2018 to 2024, the growth of the consumption failed to regain momentum.

The value of the vulcanised rubber seal market in Africa amounted to $871M in 2024, stabilizing at 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 showed a relatively flat trend pattern. As a result, consumption reached the peak level of $1.1B. From 2018 to 2024, the growth of the market failed to regain momentum.

The countries with the highest volumes of consumption in 2024 were Morocco (16K tons), Tunisia (8.1K tons) and Angola (7.2K tons), with a combined 50% share of total consumption. Sierra Leone, Central African Republic, Ghana, Gabon, Tanzania, Mozambique and Ethiopia lagged somewhat behind, together comprising a further 32%.

From 2013 to 2024, the biggest increases were recorded for Ethiopia (with a CAGR of +19.4%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber seal markets in Africa were Morocco ($174M), Sierra Leone ($158M) and Gabon ($118M), together comprising 52% of the total market. Tunisia, Angola, Central African Republic, Ghana, Mozambique, Ethiopia and Tanzania lagged somewhat behind, together comprising a further 30%.

Among the main consuming countries, Ethiopia, with a CAGR of +18.0%, recorded the highest growth rate of market size over the period under review, while market for the other leaders experienced more modest paces of growth.

The countries with the highest levels of vulcanised rubber seal per capita consumption in 2024 were Gabon (1,065 kg per 1000 persons), Central African Republic (834 kg per 1000 persons) and Tunisia (665 kg per 1000 persons).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Ethiopia (with a CAGR of +16.4%), while consumption for the other leaders experienced more modest paces of growth.

Vulcanised rubber seal production contracted modestly to 42K tons in 2024, declining by -3% compared with the previous year. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 26% against the previous year. As a result, production reached the peak volume of 60K tons. From 2018 to 2024, production growth failed to regain momentum.

In value terms, vulcanised rubber seal production reduced modestly to $649M in 2024 estimated in export price. The total production indicated a temperate increase from 2013 to 2024: its value increased at an average annual rate of +3.9% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by +0.5% against 2022 indices. The most prominent rate of growth was recorded in 2017 with an increase of 42% against the previous year. As a result, production attained the peak level of $838M. From 2018 to 2024, production growth remained at a somewhat lower figure.

Morocco (22K tons) remains the largest vulcanised rubber seal producing country in Africa, accounting for 52% of total volume. Moreover, vulcanised rubber seal production in Morocco exceeded the figures recorded by the second-largest producer, Tunisia (7.7K tons), threefold. Sierra Leone (5.4K tons) ranked third in terms of total production with a 13% share.

In Morocco, vulcanised rubber seal production remained relatively stable over the period from 2013-2024. In the other countries, the average annual rates were as follows: Tunisia (+1.0% per year) and Sierra Leone (+1.6% per year).

In 2024, imports of seals of vulcanised rubber in Africa surged to 33K tons, increasing by 18% compared with the previous year's figure. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 18% against the previous year. The volume of import peaked at 34K tons in 2013; however, from 2014 to 2024, imports remained at a lower figure.

In value terms, vulcanised rubber seal imports rose slightly to $384M in 2024. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 17% against the previous year. The level of import peaked in 2024 and is expected to retain growth in the near future.

In 2024, Angola (7.2K tons), distantly followed by South Africa (4K tons), Ghana (3.2K tons) and Tanzania (2.1K tons) were the major importers of seals of vulcanised rubber, together creating 50% of total imports. Mozambique (1.4K tons), Morocco (1.4K tons), Ethiopia (1.2K tons), Cote d'Ivoire (1.1K tons), Algeria (0.9K tons) and Nigeria (0.9K tons) followed a long way behind the leaders.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cote d'Ivoire (with a CAGR of +24.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($78M) constitutes the largest market for imported seals of vulcanised rubber in Africa, comprising 20% of total imports. The second position in the ranking was taken by Morocco ($27M), with a 7% share of total imports. It was followed by Angola, with a 7% share.

From 2013 to 2024, the average annual rate of growth in terms of value in South Africa amounted to +1.1%. The remaining importing countries recorded the following average annual rates of imports growth: Morocco (+4.2% per year) and Angola (+2.0% per year).

The import price in Africa stood at $11,673 per ton in 2024, shrinking by -12.5% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2023 an increase of 21%. Over the period under review, import prices reached the peak figure at $13,374 per ton in 2016; however, from 2017 to 2024, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($23,618 per ton), while Ghana ($3,535 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Nigeria (+12.4%), while the other leaders experienced more modest paces of growth.

In 2024, shipments abroad of seals of vulcanised rubber increased by 19% to 12K tons, rising for the third year in a row after two years of decline. In general, exports recorded a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by 205%. Over the period under review, the exports reached the maximum in 2024 and are likely to see gradual growth in the immediate term.

In value terms, vulcanised rubber seal exports rose rapidly to $149M in 2024. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 182%. Over the period under review, the exports reached the maximum in 2024 and are likely to continue growth in years to come.

Morocco was the key exporter of seals of vulcanised rubber in Africa, with the volume of exports resulting at 7.3K tons, which was approx. 61% of total exports in 2024. It was distantly followed by South Africa (3.4K tons), committing a 28% share of total exports. Tunisia (492 tons) and Nigeria (374 tons) took a minor share of total exports.

Morocco was also the fastest-growing in terms of the seals of vulcanised rubber exports, with a CAGR of +75.4% from 2013 to 2024. At the same time, Nigeria (+36.3%), South Africa (+7.4%) and Tunisia (+6.8%) displayed positive paces of growth. From 2013 to 2024, the share of Morocco and Nigeria increased by +60 and +2.5 percentage points, respectively.

In value terms, Morocco ($100M) remains the largest vulcanised rubber seal supplier in Africa, comprising 67% of total exports. The second position in the ranking was held by South Africa ($34M), with a 23% share of total exports. It was followed by Tunisia, with a 3.9% share.

In Morocco, vulcanised rubber seal exports expanded at an average annual rate of +58.1% over the period from 2013-2024. The remaining exporting countries recorded the following average annual rates of exports growth: South Africa (+4.7% per year) and Tunisia (+11.6% per year).

The export price in Africa stood at $12,371 per ton in 2024, shrinking by -9.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 17% against the previous year. As a result, the export price reached the peak level of $15,934 per ton. From 2015 to 2024, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Morocco ($13,654 per ton), while Nigeria ($2,734 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Tunisia (+4.5%), while the other leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the vulcanised rubber seal market in Africa. 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.

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