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

Report Update: Apr 1, 2024

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

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Price for Synthetic Rubber (Excluding Latex) in Sri Lanka - 2021

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

In 2022, the average synthetic rubber (excluding latex) import price amounted to $2,936 per ton, rising by 31% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 53% against the previous year. Over the period under review, average import prices hit record highs at $3,288 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($8,655 per ton), while the price for the Czech Republic ($1,495 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.9%), while the prices for the other major suppliers experienced mixed trend patterns.

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

The average synthetic rubber (excluding latex) export price stood at $2,808 per ton in 2022, dropping by -48.3% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 40% against the previous year. As a result, the export price reached the peak level of $5,428 per ton, and then contracted dramatically in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($3,430 per ton), while the average price for exports to India amounted to $2,760 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+30.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Rubber (Excluding Latex) in Sri Lanka

In 2022, the amount of synthetic rubber (excluding latex) imported into Sri Lanka declined remarkably to 29K tons, falling by -18% on 2021 figures. The total import volume increased at an average annual rate of +4.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 40%. As a result, imports reached the peak of 35K tons, and then dropped sharply in the following year.

In value terms, synthetic rubber (excluding latex) imports expanded markedly to $85M in 2022. In general, imports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 114%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Import of Synthetic Rubber (Excluding Latex) in Sri Lanka (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	8.4	6.4	24.1	25.4	44.6%
Brazil	10.8	9.2	18.9	15.6	13.0%
Japan	2.8	2.5	2.6	10.4	54.9%
India	8.2	5.8	10.8	10.3	7.9%
Hong Kong SAR	N/A	N/A	N/A	4.8	0%
Taiwan (Chinese)	1.3	1.0	5.1	4.1	46.6%
China	0.7	0.4	1.1	2.9	60.6%
Russia	6.3	5.4	6.8	1.8	-34.1%
Singapore	1.4	0.7	0.3	0.1	-58.5%
Others	4.1	5.9	10.0	9.8	33.7%
Total	43.9	37.2	79.7	85.3	24.8%

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

South Korea (8.9K tons)
India (5.0K tons)
Japan (4.4K tons)
Brazil (1.8K tons)
Taiwan (Chinese) (1.8K tons)
Hong Kong SAR (1.5K tons)
China (1.1K tons)
Russia (1.0K tons)
Singapore (0.1K tons)

Exports of Synthetic Rubber (Excluding Latex) in Sri Lanka

In 2022, approx. 44 tons of synthetic rubber (excluding latex) were exported from Sri Lanka; which is down by -85.5% compared with 2021. In general, exports saw a sharp descent. The smallest decline of -6.5% was in 2020.

In value terms, synthetic rubber (excluding latex) exports dropped rapidly to $123K in 2022. Over the period under review, exports showed a dramatic setback. The most prominent rate of growth was recorded in 2020 when exports increased by 20%.

Export of Synthetic Rubber (Excluding Latex) in Sri Lanka (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	N/A	12.1	N/A	113	205.6%
Malaysia	255	147	N/A	9.2	-67.0%
United Kingdom	298	366	609	0.2	-91.2%
China	51.4	N/A	40.2	N/A	-11.6%
Saudi Arabia	397	688	552	N/A	17.9%
United States	321	350	173	N/A	-26.6%
Others	16.1	44.9	261	0.1	-81.6%
Total	1,339	1,609	1,635	123	-54.9%

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

United Kingdom (undefined tons)
India (40.9 tons)
Malaysia (2.7 tons)

Source: IndexBox Market Intelligence Platform

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

Sri Lanka

Data coverage:

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