Philippines - Synthetic Rubber (Excluding Latex) - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Synthetic Rubber (Excluding Latex) in the Philippines - 2023
Contents:
- Price for Synthetic Rubber (Excluding Latex) in the Philippines (CIF) - 2022
- Price for Synthetic Rubber (Excluding Latex) in the Philippines (FOB) - 2022
- Imports of Synthetic Rubber (Excluding Latex) in the Philippines
- Exports of Synthetic Rubber (Excluding Latex) in the Philippines
Price for Synthetic Rubber (Excluding Latex) in the Philippines (CIF) - 2022
In 2022, the average synthetic rubber (excluding latex) import price amounted to $2,306 per ton, surging by 9.2% against the previous year. In general, the import price, however, saw a mild reduction. The pace of growth was the most pronounced in 2017 an increase of 26% against the previous year. The import price peaked at $2,628 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($2,964 per ton), while the price for Malaysia ($1,304 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Synthetic Rubber (Excluding Latex) in the Philippines (FOB) - 2022
The average synthetic rubber (excluding latex) export price stood at $852 per ton in 2022, shrinking by -5% against the previous year. In general, the export price saw a abrupt setback. The growth pace was the most rapid in 2015 an increase of 449% against the previous year. As a result, the export price attained the peak level of $57,202 per ton. From 2016 to 2022, the average export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for China.
From 2012 to 2022, the rate of growth in terms of prices for China amounted to -10.1% per year.
Imports of Synthetic Rubber (Excluding Latex) in the Philippines
In 2022, approx. 42K tons of synthetic rubber (excluding latex) were imported into the Philippines; growing by 8.1% against the previous year's figure. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +10.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +99.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 85% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.
In value terms, synthetic rubber (excluding latex) imports skyrocketed to $96M in 2022. Overall, imports saw a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 120%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.
| Import of Synthetic Rubber (Excluding Latex) in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 21.0 | 10.1 | 23.6 | 25.7 | 7.0% |
| Taiwan (Chinese) | 8.4 | 6.6 | 15.2 | 17.7 | 28.2% |
| China | 4.3 | 1.9 | 7.8 | 16.1 | 55.3% |
| South Korea | 7.6 | 5.8 | 11.3 | 14.9 | 25.2% |
| Singapore | 6.8 | 6.1 | 10.3 | 13.6 | 26.0% |
| Malaysia | 1.6 | 1.8 | 5.6 | 2.1 | 9.5% |
| Thailand | 1.4 | 0.3 | 1.1 | 1.8 | 8.7% |
| Russia | 4.9 | 2.2 | 0.9 | N/A | -57.1% |
| Others | 5.0 | 2.2 | 5.5 | 3.9 | -7.9% |
| Total | 61.1 | 37.0 | 81.2 | 95.8 | 16.2% |
Top Suppliers of Synthetic Rubber (Excluding Latex) to the Philippines in 2022:
- Taiwan (Chinese) (9.6K tons)
- Japan (8.7K tons)
- China (7.4K tons)
- South Korea (7.3K tons)
- Singapore (4.8K tons)
- Malaysia (1.6K tons)
- Thailand (0.9K tons)
Exports of Synthetic Rubber (Excluding Latex) in the Philippines
In 2022, the amount of synthetic rubber (excluding latex) exported from the Philippines dropped to 4K tons, which is down by -12.4% compared with 2021. Overall, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 200% against the previous year. As a result, the exports reached the peak of 4.6K tons, and then contracted in the following year.
In value terms, synthetic rubber (excluding latex) exports shrank notably to $3.4M in 2022. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 175%. As a result, the exports reached the peak of $4.1M, and then fell markedly in the following year.
| Export of Synthetic Rubber (Excluding Latex) in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.5 | 1.3 | 3.7 | 3.1 | 27.4% |
| Others | 0.1 | 0.2 | 0.3 | 0.3 | 44.2% |
| Total | 1.6 | 1.5 | 4.1 | 3.4 | 28.6% |
Top Export Markets for Synthetic Rubber (Excluding Latex) from the Philippines in 2022:
- China (4.0K tons)
This report provides an in-depth analysis of the market for synthetic rubber (excluding latex) in the Philippines. 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:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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