$Ghana - Synthetic Rubber (Excluding Latex) - Market Analysis, Forecast, Size, Trends And Insights$

Report Update: May 1, 2024

Ghana - Synthetic Rubber (Excluding Latex) - Market Analysis, Forecast, Size, Trends And Insights

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Price for Synthetic Rubber (Excluding Latex) in Ghana - 2022

Price for Synthetic Rubber (Excluding Latex) in Ghana (FOB) - 2022

In 2022, the average synthetic rubber (excluding latex) export price amounted to $1,625 per ton, dropping by -2.7% against the previous year. In general, the export price showed a abrupt descent. The growth pace was the most rapid in 2015 an increase of 23%. Over the period under review, the average export prices reached the maximum at $3,081 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Burkina Faso ($2,280 per ton), while the average price for exports to Turkey ($214 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Senegal (+2,929.3%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Synthetic Rubber (Excluding Latex) in Ghana (CIF) - 2022

The average synthetic rubber (excluding latex) import price stood at $2,600 per ton in 2022, picking up by 7.2% against the previous year. Over the period under review, the import price continues to indicate a temperate increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 137%. The import price peaked at $2,649 per ton in 2014; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($5,766 per ton), while the price for Spain ($109 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Synthetic Rubber (Excluding Latex) in Ghana

For the fourth consecutive year, Ghana recorded growth in overseas shipments of synthetic rubber (excluding latex), which increased by 2.3% to 410 tons in 2022. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2021 when exports increased by 85% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, synthetic rubber (excluding latex) exports declined modestly to $667K in 2022. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 96%. As a result, the exports reached the peak of $670K, leveling off in the following year.

Export of Synthetic Rubber (Excluding Latex) in Ghana (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Burkina Faso	8.2	339	11.0	660	331.8%
Cote d'Ivoire	1.1	2.2	0.1	5.0	65.7%
Turkey	N/A	N/A	N/A	1.1	0%
Spain	122	N/A	N/A	N/A	0%
France	115	N/A	N/A	N/A	0%
Canada	54.6	N/A	659	N/A	247.4%
Others	17.7	N/A	0.2	0.5	-69.5%
Total	318	342	670	667	28.0%

Top Export Markets for Synthetic Rubber (Excluding Latex) from Ghana in 2022:

Burkina Faso (289.7 tons)
Cote d'Ivoire (17.3 tons)
Turkey (5.3 tons)

Imports of Synthetic Rubber (Excluding Latex) in Ghana

In 2022, imports of synthetic rubber (excluding latex) into Ghana expanded to 226 tons, increasing by 4.4% compared with the year before. The total import volume increased at an average annual rate of +12.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 39%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, synthetic rubber (excluding latex) imports expanded significantly to $588K in 2022. Over the period under review, imports posted significant growth. The growth pace was the most rapid in 2021 with an increase of 132%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Import of Synthetic Rubber (Excluding Latex) in Ghana (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	0.3	0.2	0.2	199	772.1%
Japan	64.4	95.4	237	155	34.0%
China	29.9	14.0	86.4	53.8	21.6%
United Arab Emirates	8.8	7.2	16.1	29.1	49.0%
United Kingdom	10.3	8.3	20.4	20.8	26.4%
Spain	7.8	4.2	6.4	4.4	-17.4%
Turkey	5.9	13.1	11.3	1.2	-41.2%
Others	98.7	84.7	148	126	8.5%
Total	226	227	526	588	37.5%

Top Suppliers of Synthetic Rubber (Excluding Latex) to Ghana in 2022:

Germany (96.3 tons)
Japan (41.0 tons)
Spain (40.3 tons)
China (26.6 tons)
United Arab Emirates (11.2 tons)
United Kingdom (6.2 tons)
Turkey (3.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for synthetic rubber (excluding latex) in Ghana. 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.

Product coverage:

Prodcom 20171090 - Synthetic rubber (excluding latex)

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023