China: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in China

The Chinese synthetic latex rubber market surged to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Synthetic Latex Rubber Production in China

In value terms, synthetic latex rubber production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Synthetic Latex Rubber Exports

Exports from China

After seven years of growth, shipments abroad of synthetic latex rubber decreased by X% to X tons in 2022. Over the period under review, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then declined markedly in the following year.

In value terms, synthetic latex rubber exports reduced dramatically to $X in 2022. Overall, exports, however, continue to indicate a resilient increase. 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 markedly in the following year.

Exports by Country

Malaysia (X tons) was the main destination for synthetic latex rubber exports from China, with a X% share of total exports. Moreover, synthetic latex rubber exports to Malaysia exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. South Korea (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and South Korea (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for synthetic latex rubber exports from China, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the average synthetic latex rubber export price amounted to $X per ton, approximately reflecting the previous year. Overall, the export price saw a noticeable decline. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Sri Lanka ($X 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 Arab Emirates (X%), while the prices for the other major destinations experienced mixed trend patterns.

Synthetic Latex Rubber Imports

Imports into China

In 2022, after three years of growth, there was significant decline in purchases abroad of synthetic latex rubber, when their volume decreased by X% to X tons. Overall, total imports indicated measured growth from 2012 to 2022: its volume 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. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked at X tons in 2021, and then reduced sharply in the following year.

In value terms, synthetic latex rubber imports contracted remarkably to $X in 2022. In general, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then plummeted in the following year.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of synthetic latex rubber to China, accounting for a X% share of total imports. Moreover, synthetic latex rubber imports from South Korea exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Germany (X% per year).

In value terms, Japan ($X), South Korea ($X) and Germany ($X) appeared to be the largest synthetic latex rubber suppliers to China, with a combined X% share of total imports. The United States, Malaysia, Taiwan (Chinese), Italy and Indonesia lagged somewhat behind, together comprising a further X%.

Italy, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average synthetic latex rubber import price amounted to $X per ton, declining by X% against the previous year. Overall, import price indicated a modest increase from 2012 to 2022: its price 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, synthetic latex rubber import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced in the following year.

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

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

Source: IndexBox Platform

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