Rubber gaskets, washers and seals market in Greece

Earlier Report Observations

The market volume for rubber gaskets, washers and seals in Greece expanded significantly over the 2018-2024 period, rising from 986 tons to 1 976 tons. Growth was particularly strong in 2021 when consumption jumped to 1 769 tons, a 53% increase from the previous year. After a moderate correction in 2022 and 2023, the market reached its highest level in 2024 at 1 976 tons.

This growth was supported by both domestic production and imports. Production increased from 616 tons in 2018 to 1 182 tons in 2024, while imports rose from 520 tons to 897 tons over the same period. Exports remained relatively stable, ranging between 90 and 149 tons annually, thus having a limited impact on net market size.

Production rubber gaskets, washers and seals in Greece

In value, 2017-2020, K $ US

In Greece, the output value of rubber gaskets, washers, and seals reached 2 828 K $ US in 2020, showing a modest increase of 1.8% compared to 2019. Over the period from 2017 to 2020, production declined by 5%, with a compound annual growth rate of 1.7%. The lowest value was recorded in 2019 at 2 777 K $ US, while the peak occurred in 2018 at 3 521 K $ US. The most significant drop was observed in 2019, with a decrease of 21.1%, whereas the largest gain was in 2018, with an 18.3% rise.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

In kind, 2017-2020, t

In Greece, the production of rubber gaskets, washers, and seals has grown for the third year in a row. In 2020, output amounted to 667.0 tonnes, reflecting a slight increase of 1.8% compared to 2019. From 2017 to 2020, production expanded by 21.9%, which translates to an annualized growth rate of 6.8%.

Annual dynamics of production in Greece in kind, 2017-2020, t

Exports rubber gaskets, washers and seals from Greece

Exports in kind, t

Greece's exports of rubber gaskets, washers, and seals have fallen for the third consecutive year. In 2020, exports totaled 90.1 tonnes, indicating a sharp decline of 30.6% year-over-year. Between 2017 and 2020, exports dropped by 75%, corresponding to an annualized decrease of 37.0%.

Annual dynamics of product's exports from Greece in kind, 2017-2020, t

From 2017 to 2020, Germany, Hungary, and Bulgaria remained the top buyers of rubber gaskets, washers, and seals from Greece in terms of volume. Germany accounted for 39.0% of exports, Hungary for 15.0%, and Bulgaria for 13.4%, collectively representing 67.3% of total exports in kind.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, K $ US

Greece's exports of rubber gaskets, washers, and seals have declined for the third year in a row. In 2020, export value reached 1 148 K $ US, marking a sharp fall of 67.0% compared to the previous year. Between 2017 and 2020, exports decreased by 77.5%, equating to an annualized rate of 39.2%.

Annual dynamics of product's exports from Greece in value, 2017-2020, K $ US

During 2017–2020, Germany, Hungary, and Bulgaria continued to be the primary buyers of rubber gaskets, washers, and seals from Greece in value terms. Germany held 42.5% of exports, Hungary 34.5%, and Bulgaria 4.1%, together forming 81.2% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports rubber gaskets, washers and seals to Greece

Imports in kind, t

Imports of rubber gaskets, washers, and seals into Greece have risen for the second consecutive year. In 2020, imports came to 577.9 tonnes, reflecting a 3.3% increase year-over-year. Over the period from 2017 to 2020, imports decreased by 16.7%, with a compound annual growth rate of 5.9%. The lowest volume was recorded in 2018 at 519.6 tonnes. The most substantial decline occurred in 2018, with a drop of 25.1%, while the largest increase was in 2019, with a 7.7% rise.

Annual dynamics of product's imports to Greece in kind, 2017-2020, t

From 2017 to 2020, Germany, Italy, and China led the import structure in kind for rubber gaskets, washers, and seals into Greece. Germany accounted for 48.5% of imports, Italy for 15.5%, and China for 5.5%, together representing 69.5% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, K $ US

In 2020, Greece's import value for rubber gaskets, washers, and seals totaled 7 674 K $ US, showing a 13.5% increase year-over-year. Between 2017 and 2020, imports grew by 12.3%, equating to an annualized rate of 4.0%. The lowest value was recorded in 2019 at 6 763 K $ US. The most significant decline was observed in 2019, with a decrease of 2.5%.

Annual dynamics of product's imports to Greece in value, 2017-2020, K $ US

Throughout 2017–2020, Germany, Italy, and the Netherlands remained the key markets for imports in value terms of rubber gaskets, washers, and seals to Greece. Germany accounted for 43.9% of imports, Italy for 11.5%, and the Netherlands for 7.0%, jointly taking 62.5% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020