Which Country Imports the Most Synthetic Rubber in the World?

Plastics And Synthetic Rubber In Primary Forms May 28, 2018
Author: Sergey Avramenko
Head of Global Markets Research Team

Which Country Imports the Most Synthetic Rubber in the World?

IndexBox has just published a new report "World: Synthetic Rubber - Market Report. Analysis and Forecast to 2025". Here is a summary of the report's key findings.

In 2016, the amount of synthetic rubber imported worldwide amounted to 15M tonnes, approximately mirroring the previous year level. The total import volume increased at an average annual rate of +1.9% from 2007 to 2016- the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2010, when imports increased by 10% year-to-year. Over the period under review, global synthetic rubber imports attained its maximum volume in 2016, and are expected to retain its growth in the immediate term.

In value terms, synthetic rubber imports totaled $21B in 2016. Overall, it indicated a temperate expansion from 2007 to 2016: the total imports value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2016, synthetic rubber imports decreased by -32.8% against its level of 2011. Over the period under review, global synthetic rubber imports reached its maximum level of $31B in 2011- however, from 2012 to 2016, it stood at a somewhat lower level.

Top Synthetic Rubber Importing Countries in the World

1. China (5.4 billion USD)

2. USA (1.4 billion USD)

3. Germany (1.1 billion USD)

4. Belgium (0.9 billion USD)

5. Thailand (0.9 billion USD)

6. India (0.8 billion USD)

7. Malaysia (0.8 billion USD)

8. Indonesia (0.6 billion USD)

9. Turkey (0.5 billion USD)

10. South Korea (0.5 billion USD)

11. Japan (0.4 billion USD)

12. Russia (0.2 billion USD)

Synthetic Rubber Imports By Country

The imports of the three major importers of synthetic rubber, namely China, South Korea, and the U.S., represented more than third of total import. Russia (984K tonnes) held a 7% share (based on tonnes) of global synthetic rubber imports, which put it in second place, following Japan (6%). Malaysia (650K tonnes), Belgium (648K tonnes), Germany (544K tonnes), Thailand (522K tonnes), India (455K tonnes), Indonesia (336K tonnes), and Turkey (298K tonnes) held the mild share of total imports.

From 2007 to 2016, the most notable growth rate of synthetic rubber imports, among the main importing countries, was attained by Malaysia (+11.7% per year), while the other global leaders experienced more modest paces of growth.

In value terms, China ($5.4B) constitutes the largest market for imported synthetic rubber worldwide, making up 26% of global imports. The second position in the ranking was occupied by the U.S. ($1.4B), with the share of 7% of global imports. It was followed by Germany, with the share of 5%.

In China, synthetic rubber imports stood at an average annual rate of +7.3% over the period from 2007-2016. In the other countries, the average annual rates were as follows: the U.S. (+2.2% per year) and Germany (-1.4% per year).

Synthetic Rubber Import Prices By Country

In 2016, the average import price for synthetic rubber amounted to $1,395 per tonne, growing by 2% against the previous year. In general, synthetic rubber import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2011, when it surged by 36% against the previous year level. In that year, average synthetic rubber import price reached its maximum level of $2,328 per tonne. From 2012 to 2016, growth of average synthetic rubber import price stood at a somewhat lower level.

Import prices varied noticeably by country of destination. the country with the highest import prices was China ($2,589 per tonne), while Russia ($161 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of synthetic rubber import prices was attained by Russia (+5.6% per year), while the other global leaders experienced more modest paces of growth.

Do you want to know more about global synthetic rubber market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • synthetic rubber market share
  • synthetic rubber prices
  • synthetic rubber industry
  • synthetic rubber sales
  • synthetic rubber import
  • synthetic rubber export
  • synthetic rubber market forecast
  • synthetic rubber price forecast
  • key synthetic rubber producers

All data provided in this article covers the following product: HS Code 4002 - Synthetic rubber and factice derived from oils, in primary forms or in plates, sheets or strip- mixtures of heading no. 4001 and 4002, in primary forms or in plates, sheets or strip.

Source: World: Synthetic Rubber - Market Report. Analysis and Forecast to 2025