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

Report Update: May 1, 2024

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

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Price for Synthetic Rubber (Excluding Latex) in India - 2023

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

The average synthetic rubber (excluding latex) import price stood at $1,808 per ton in 2021, surging by 4.9% against the previous year. In general, the import price, however, recorded a deep slump. The pace of growth was the most pronounced in 2017 an increase of 25% against the previous year. Over the period under review, average import prices reached the maximum at $3,237 per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($3,168 per ton), while the price for Russia ($1,604 per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.5%), while the prices for the other major suppliers experienced a decline.

Price for Synthetic Rubber (Excluding Latex) in India (FOB) - 2023

The average synthetic rubber (excluding latex) export price stood at $1,890 per ton in September 2023, remaining stable against the previous month. Overall, the export price showed a pronounced decline. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 22% m-o-m. Over the period under review, the average export prices attained the maximum at $2,592 per ton in October 2022; however, from November 2022 to September 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In September 2023, the country with the highest price was Saudi Arabia ($2,656 per ton), while the average price for exports to Sri Lanka ($1,569 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+4.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Synthetic Rubber (Excluding Latex) in India

In 2022, imports of synthetic rubber (excluding latex) into India dropped sharply to 289K tons, with a decrease of -57.4% on 2021 figures. In general, imports faced a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 65% against the previous year. As a result, imports attained the peak of 680K tons, and then shrank dramatically in the following year.

In value terms, synthetic rubber (excluding latex) imports declined rapidly to $758M in 2022. Overall, imports showed a abrupt decrease. The pace of growth appeared the most rapid in 2021 with an increase of 73%. As a result, imports reached the peak of $1.2B, and then declined rapidly in the following year.

Import of Synthetic Rubber (Excluding Latex) in India (Million USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
South Korea	202	148	274	16.5%
Japan	131	121	169	13.6%
Russia	93.7	78.8	151	26.9%
Singapore	139	85.1	97.5	-16.2%
United States	58.7	56.9	84.7	20.1%
Poland	31.8	24.6	64.1	42.0%
China	35.3	24.8	41.4	8.3%
United Arab Emirates	2.3	2.3	37.9	305.9%
Saudi Arabia	16.5	14.1	37.7	51.2%
Taiwan (Chinese)	31.8	19.2	36.5	7.1%
Germany	19.7	19.6	34.7	32.7%
United Kingdom	18.9	17.6	30.5	27.0%
Belgium	24.4	23.4	27.1	5.4%
Others	86.2	74.5	143	28.8%
Total	891	710	1,229	17.4%

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

South Korea (128.8K tons)
Russia (93.9K tons)
Japan (53.3K tons)
Singapore (39.9K tons)
United States (36.9K tons)
Poland (35.5K tons)
United Arab Emirates (20.2K tons)
Saudi Arabia (19.3K tons)
Germany (17.1K tons)
Taiwan (Chinese) (15.8K tons)
China (14.5K tons)
Belgium (11.7K tons)
United Kingdom (10.7K tons)

Exports of Synthetic Rubber (Excluding Latex) in India

In 2022, overseas shipments of synthetic rubber (excluding latex) decreased by -52.4% to 26K tons, falling for the second year in a row after two years of growth. Over the period under review, exports faced a sharp descent. The pace of growth was the most pronounced in 2020 with an increase of 45%. As a result, the exports attained the peak of 77K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, synthetic rubber (excluding latex) exports declined remarkably to $58M in 2022. Overall, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 14% against the previous year. As a result, the exports attained the peak of $99M, and then declined rapidly in the following year.

Export of Synthetic Rubber (Excluding Latex) in India (Million USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
China	8.9	39.5	28.5	78.9%
Sri Lanka	9.0	8.0	12.2	16.4%
Bangladesh	6.3	5.2	10.8	30.9%
Thailand	26.1	16.4	8.6	-42.6%
United States	1.3	1.8	8.1	149.6%
South Korea	0.3	2.0	6.5	365.5%
Vietnam	4.0	3.8	5.9	21.4%
Pakistan	4.2	N/A	N/A	0%
Others	23.1	10.0	18.6	-10.3%
Total	83.2	86.7	99.2	9.2%

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

China (18.6K tons)
Sri Lanka (5.9K tons)
Bangladesh (5.8K tons)
Thailand (5.0K tons)
United States (3.9K tons)
South Korea (3.9K tons)
Vietnam (3.1K tons)

Source: IndexBox Market Intelligence Platform

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

India

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in India
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