Estonia: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Estonia

The Estonian synthetic rubber (excluding latex) market shrank dramatically to $X in 2023, falling by X% 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). In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2023, the growth of the market remained at a lower figure.

Exports of Synthetic Rubber (Excluding Latex)

Exports from Estonia

In 2023, the amount of synthetic rubber (excluding latex) exported from Estonia fell rapidly to X tons, which is down by X% compared with the year before. Over the period under review, exports faced a deep setback. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

In value terms, synthetic rubber (excluding latex) exports contracted significantly to $X in 2023. In general, exports showed a abrupt setback. The growth pace was the most rapid in 2022 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

Lithuania (X tons) was the main destination for synthetic rubber (excluding latex) exports from Estonia, accounting for a X% share of total exports. Moreover, synthetic rubber (excluding latex) exports to Lithuania exceeded the volume sent to the second major destination, Latvia (X tons), threefold. Croatia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Lithuania amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Croatia (X% per year).

In value terms, Lithuania ($X) emerged as the key foreign market for synthetic rubber (excluding latex) exports from Estonia, comprising X% of total exports. The second position in the ranking was taken by Finland ($X), with an X% share of total exports. It was followed by Latvia, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Lithuania amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (X% per year) and Latvia (X% per year).

Export Prices by Country

The average synthetic rubber (excluding latex) export price stood at $X per ton in 2023, growing by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Rubber (Excluding Latex)

Imports into Estonia

In 2023, the amount of synthetic rubber (excluding latex) imported into Estonia reduced notably to X tons, waning by X% compared with the year before. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2023, the growth of imports remained at a lower figure.

In value terms, synthetic rubber (excluding latex) imports declined remarkably to $X in 2023. Overall, imports saw a abrupt slump. The growth pace was the most rapid in 2017 when imports increased by X%. Imports peaked at $X in 2015; however, from 2016 to 2023, imports failed to regain momentum.

Imports by Country

Sweden (X tons), Denmark (X tons) and Russia (X tons) were the main suppliers of synthetic rubber (excluding latex) imports to Estonia, together accounting for X% of total imports. The Netherlands, Germany, Austria, Latvia, the UK and Belgium lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Denmark ($X) and the Netherlands ($X) constituted the largest synthetic rubber (excluding latex) suppliers to Estonia, together comprising X% of total imports. Latvia, the UK, Russia, Austria, Germany and Belgium lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Austria, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average synthetic rubber (excluding latex) import price stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the import price recorded a abrupt descent. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Austria (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform