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

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

The Bangladeshi market for isoprene rubber (IR) in primary forms expanded significantly to $X in 2022, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated mild growth 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, consumption increased by X% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports from Bangladesh

In 2022, overseas shipments of isoprene rubber (IR) in primary forms decreased by X% to X kg, falling for the third year in a row after three years of growth. Overall, exports continue to indicate a precipitous shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of isoprene rubber (IR) in primary forms fell to $X in 2022. In general, exports showed a sharp decline. The growth pace was the most rapid in 2015 with an increase of X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X kg) was the main destination for exports of isoprene rubber (IR) in primary forms from Bangladesh, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%.

In value terms, the United States ($X) also remains the key foreign market for isoprene rubber (IR) in primary forms exports from Bangladesh.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%.

Export Prices by Country

In 2022, the average export price for isoprene rubber (IR) in primary forms amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price, however, posted a moderate expansion. The growth pace was the most rapid in 2015 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports into Bangladesh

In 2022, the amount of isoprene rubber (IR) in primary forms imported into Bangladesh rose slightly to X tons, growing by X% on 2021 figures. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports of attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, imports of isoprene rubber (IR) in primary forms surged to $X in 2022. In general, total imports indicated a slight 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, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of isoprene rubber (IR) in primary form to Bangladesh, with a X% share of total imports. Moreover, imports of isoprene rubber (IR) in primary forms from Italy exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Japan (X% per year).

In value terms, Hong Kong SAR ($X) constituted the largest supplier of isoprene rubber (IR) in primary forms to Bangladesh, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Hong Kong SAR amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average import price for isoprene rubber (IR) in primary forms amounted to $X per ton, increasing by X% against the previous year. In general, the import price saw a temperate increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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