$Vietnam - Synthetic Latex Rubber - Market Analysis, Forecast, Size, Trends And Insights$

Report Update: May 3, 2024

Vietnam - Synthetic Latex Rubber - Market Analysis, Forecast, Size, Trends And Insights

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Synthetic Latex Rubber Price in Vietnam - 2021

Synthetic Latex Rubber Price in Vietnam (CIF) - 2021

The average synthetic latex rubber import price stood at $1,455 per ton in December 2021, declining by -12.4% against the previous month. In general, import price indicated mild growth from December 2020 to December 2021: its price increased at an average monthly rate of +1.7% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2021 figures, synthetic latex rubber import price decreased by -29.3% against August 2021 indices. The pace of growth was the most pronounced in January 2021 when the average import price increased by 99% against the previous month. Over the period under review, average import prices hit record highs at $2,500 per ton in February 2021; however, from March 2021 to December 2021, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Taiwan (Chinese) ($2,042 per ton), while the price for Indonesia ($872 per ton) was amongst the lowest.

From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Synthetic Latex Rubber Price in Vietnam (FOB) - 2022

In 2022, the average synthetic latex rubber export price amounted to $1,516 per ton, declining by -6.6% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 34% against the previous year. Over the period under review, the average export prices attained the maximum at $1,680 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($3,483 per ton), while the average price for exports to Malaysia ($218 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 the United States (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Latex Rubber Imports in Vietnam

In 2022, after three years of growth, there was significant decline in supplies from abroad of synthetic latex rubber, when their volume decreased by -14.4% to 80K tons. The total import volume increased at an average annual rate of +5.1% 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 2021 when imports increased by 18%. As a result, imports attained the peak of 94K tons, and then fell in the following year.

In value terms, synthetic latex rubber imports fell significantly to $168M in 2022. In general, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 82%. As a result, imports reached the peak of $200M, and then declined dramatically in the following year.

Import of Synthetic Latex Rubber in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	39.8	52.6	93.9	70.0	20.7%
Taiwan (Chinese)	11.2	16.9	42.2	30.0	38.9%
China	7.1	4.8	6.8	24.8	51.7%
Japan	11.7	15.4	22.5	17.9	15.2%
Thailand	6.4	8.8	15.1	10.7	18.7%
Malaysia	5.9	5.8	7.6	5.4	-2.9%
Indonesia	0.5	1.8	4.9	3.5	91.3%
India	2.9	2.2	3.9	3.1	2.2%
Others	3.2	1.5	3.2	2.9	-3.2%
Total	88.8	110	200	168	23.7%

Top Suppliers of Synthetic Latex Rubber to Vietnam in 2022:

South Korea (30.4K tons)
Taiwan (Chinese) (14.0K tons)
China (10.2K tons)
Japan (8.5K tons)
Thailand (5.5K tons)
Indonesia (4.1K tons)
Malaysia (4.1K tons)
India (1.7K tons)

Synthetic Latex Rubber Exports in Vietnam

In 2022, the amount of synthetic latex rubber exported from Vietnam skyrocketed to 1.5K tons, surging by 19% on 2021 figures. Over the period under review, exports recorded a significant increase. The growth pace was the most rapid in 2021 when exports increased by 485% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, synthetic latex rubber exports expanded sharply to $2.3M in 2022. In general, exports posted significant growth. The growth pace was the most rapid in 2021 when exports increased by 465%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Export of Synthetic Latex Rubber in Vietnam (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Taiwan (Chinese)	968	296	1,608	1,872	24.6%
Hong Kong SAR	103	31.5	171	199	24.5%
Egypt	45.2	13.3	110	108	33.7%
Spain	45.2	5.7	45.4	44.3	-0.7%
Indonesia	22.8	3.5	29.3	36.7	17.2%
China	29.4	1.9	4.7	15.4	-19.4%
South Korea	8.2	2.5	13.5	15.3	23.1%
Belgium	12.1	2.9	12.5	11.4	-2.0%
Others	76.0	15.8	112	32.9	-24.4%
Total	1,310	373	2,106	2,335	21.2%

Top Export Markets for Synthetic Latex Rubber from Vietnam in 2022:

Taiwan (Chinese) (844.1 tons)
Egypt (283.9 tons)
Spain (79.1 tons)
Hong Kong SAR (77.6 tons)
Indonesia (75.5 tons)
South Korea (44.9 tons)
Belgium (30.4 tons)
China (22.5 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the synthetic latex rubber market in Vietnam. 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 20171050 - Synthetic latex rubber

Country coverage:

Vietnam

Data coverage:

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