Asia: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in Asia

In 2022, the Asian market for isoprene rubber (IR) in primary forms increased by X% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption recorded a noticeable descent. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Isoprene Rubber (IR) in Primary Forms in Asia

In value terms, production of isoprene rubber (IR) in primary forms stood at $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild downturn. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports in Asia

In 2022, exports of isoprene rubber (ir) in primary forms in Asia reduced to X tons, dropping by X% compared with 2021 figures. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of X%. The volume of export peaked at X tons in 2021, and then dropped modestly in the following year.

In value terms, exports of isoprene rubber (IR) in primary forms fell to $X in 2022. Total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then declined slightly in the following year.

Exports by Country

Japan represented the main exporter of isoprene rubber (IR) in primary forms in Asia, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. China (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (X%) and Turkey (X%). Malaysia (X tons), Thailand (X tons) and Saudi Arabia (X tons) took a minor share of total exports.

Exports from Japan increased at an average annual rate of X% from 2012 to 2022. At the same time, Turkey (X%), Thailand (X%), China (X%), Saudi Arabia (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) illustrated a downward trend over the same period. China (X p.p.), Turkey (X p.p.), Thailand (X p.p.) and Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese), Malaysia and Japan saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, Japan ($X) remains the largest isoprene rubber (IR) in primary form supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value in Japan totaled X%. In the other countries, the average annual rates were as follows: China (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, remaining stable against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced more modest paces of growth.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports in Asia

In 2022, supplies from abroad of isoprene rubber (IR) in primary forms decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports recorded a mild curtailment. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of isoprene rubber (IR) in primary forms expanded significantly to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons), distantly followed by Turkey (X tons), Malaysia (X tons), Thailand (X tons), Sri Lanka (X tons), Vietnam (X tons), Japan (X tons) and India (X tons) represented the largest importers of isoprene rubber (IR) in primary forms, together creating X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Thailand ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Turkey, Vietnam, Sri Lanka, Japan and India lagged somewhat behind, together accounting for a further X%.

Sri Lanka, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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