Updated Oct 18, 2022 02:22

Non-Reinforced Rubber Tubing Market in the United Kingdom

Market Overview
After two years of growth, the UK non-reinforced rubber tubing market decreased by -% to $ in . In general, consumption, however, posted mild growth. Over the period under review, the market attained the peak level at $ in , and then fell in the following year.

In value terms, non-reinforced rubber tubing production reached $ in estimated in export price. Overall, production recorded a mild setback. The pace of growth was the most pronounced in 2013 when the production volume increased by %. As a result, production reached the peak level of $. From 2014 to , production growth failed to regain momentum.


Consumption
In , approx. tons of rubber tubing not reinforced were consumed in the UK; surging by % on the previous year's figure. Overall, consumption saw a resilient increase. Over the period under review, consumption reached the maximum volume at tons in ; however, from to , consumption remained at a lower figure.

The size of the non-reinforced rubber tubing market in the UK amounted to $ in , remaining relatively unchanged 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 showed a modest expansion. Non-reinforced rubber tubing consumption peaked at $ in ; however, from to , consumption failed to regain momentum.


Market Forecast
Driven by increasing demand for non-reinforced rubber tubing in the UK, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

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


Market Structure
Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in . The UK domestic supply is expected to continue its growth. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
The UK remains a net importer of non-reinforced rubber tubing; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.