Report Update: May 1, 2024

Indonesia - Synthetic Rubber - Market Analysis, Forecast, Size, Trends And Insights

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Synthetic Rubber Price in Indonesia - 2022

Synthetic Rubber Price in Indonesia (CIF) - 2022

In March 2022, the average synthetic rubber import price amounted to $2,404 per ton, remaining stable against the previous month. Over the period from March 2021 to March 2022, it increased at an average monthly rate of +1.2%. The growth pace was the most rapid in April 2021 when the average import price increased by 6% m-o-m. The import price peaked at $2,514 per ton in October 2021; however, from November 2021 to March 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($3,598 per ton), while the price for Malaysia ($1,483 per ton) was amongst the lowest.

From March 2021 to March 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Synthetic Rubber Price in Indonesia (FOB) - 2022

The average synthetic rubber export price stood at $1,620 per ton in March 2022, reducing by -4.9% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.5%. The most prominent rate of growth was recorded in December 2021 when the average export price increased by 46% month-to-month. As a result, the export price attained the peak level of $1,971 per ton. From January 2022 to March 2022, the the average export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was the United States ($2,284 per ton), while the average price for exports to Australia ($928 per ton) was amongst the lowest.

From March 2021 to March 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Rubber Imports in Indonesia

In 2022, synthetic rubber imports into Indonesia fell to 354K tons, with a decrease of -8.9% compared with 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 22%. As a result, imports reached the peak of 389K tons, and then dropped in the following year.

In value terms, synthetic rubber imports dropped significantly to $713M in 2022. In general, total imports indicated a notable expansion from 2019 to 2022: its value increased at an average annual rate of +2.5% 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 +31.5% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 63%. As a result, imports attained the peak of $884M, and then contracted notably in the following year.

Import of Synthetic Rubber in Indonesia (Million USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
South Korea	267	201	375	18.5%
Japan	125	94.5	134	3.5%
China	29.3	25.7	68.1	52.5%
Taiwan (Chinese)	38.5	33.5	49.9	13.8%
Singapore	47.2	37.4	47.4	0.2%
United States	29.0	36.6	47.1	27.4%
Thailand	22.2	16.1	33.4	22.7%
Malaysia	31.6	21.7	31.2	-0.6%
Russia	17.1	11.0	20.1	8.4%
Germany	14.6	10.4	15.9	4.4%
Others	40.6	54.0	62.7	24.3%
Total	662	542	884	15.6%

Top Suppliers of Synthetic Rubber to Indonesia in 2022:

South Korea (179.2K tons)
Japan (50.7K tons)
China (29.8K tons)
Taiwan (Chinese) (24.1K tons)
Singapore (20.1K tons)
Malaysia (13.7K tons)
United States (13.5K tons)
Thailand (12.8K tons)
Russia (9.9K tons)
Germany (6.3K tons)

Synthetic Rubber Exports in Indonesia

Synthetic rubber exports from Indonesia surged to 221K tons in 2022, jumping by 36% compared with 2021. Overall, total exports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +8.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -21.1% against 2020 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 60% against the previous year. As a result, the exports reached the peak of 279K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, synthetic rubber exports surged to $292M in 2022. The total export value increased at an average annual rate of +2.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 25%. As a result, the exports reached the peak of $343M. From 2021 to 2022, the growth of the exports remained at a lower figure.

Export of Synthetic Rubber in Indonesia (Million USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
China	29.6	45.3	78.2	62.5%
Thailand	2.3	3.9	29.6	258.7%
Spain	6.1	3.8	24.2	99.2%
Australia	3.2	1.9	14.6	113.6%
Netherlands	2.9	1.8	13.1	112.5%
Italy	2.8	2.1	12.6	112.1%
Canada	1.9	0.9	11.2	142.8%
France	8.3	2.9	10.0	9.8%
United States	11.1	2.3	9.7	-6.5%
Vietnam	1.3	1.6	6.9	130.4%
India	0.5	0.7	5.8	240.6%
Malaysia	0.5	0.5	3.5	164.6%
New Zealand	1.5	0.7	2.5	29.1%
Others	202	275	19.0	-69.3%
Total	274	343	241	-6.2%

Top Export Markets for Synthetic Rubber from Indonesia in 2022:

China (45.9K tons)
Australia (17.2K tons)
Thailand (17.2K tons)
Spain (16.1K tons)
Italy (8.6K tons)
Netherlands (8.6K tons)
Vietnam (7.9K tons)
France (6.8K tons)
Canada (6.2K tons)
United States (5.4K tons)
India (4.1K tons)
Malaysia (2.8K tons)
New Zealand (2.6K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the synthetic rubber market in Indonesia. 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
Prodcom 20171090 - Synthetic rubber (excluding latex)

Country coverage:

Indonesia

Data coverage:

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

Reasons to buy this report:

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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
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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