China: Synthetic Rubber Market 2022

Synthetic Rubber Market Size in China

The Chinese synthetic rubber market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. Synthetic rubber consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Synthetic Rubber Production in China

In value terms, synthetic rubber production soared to $X in 2021 estimated in export price. In general, production, however, saw a noticeable setback. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Synthetic Rubber Exports

Exports from China

In 2021, overseas shipments of synthetic rubber increased by X% to X tons, rising for the sixth consecutive year after three years of decline. In general, exports saw prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic rubber exports surged to $X in 2021. Overall, exports recorded a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X tons), Thailand (X tons) and Vietnam (X tons) were the main destinations of synthetic rubber exports from China, together accounting for X% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic rubber exported from China were Malaysia ($X), Vietnam ($X) and Thailand ($X), together comprising X% of total exports.

Among the main countries of destination, Malaysia, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average synthetic rubber export price stood at $X per ton in 2021, picking up by X% against the previous year. Over the period under review, the export price, however, recorded a pronounced slump. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, the highest price was recorded for prices to Italy ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to Pakistan ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (-X%), while the prices for the other major destinations experienced a decline.

Synthetic Rubber Imports

Imports into China

After two years of growth, overseas purchases of synthetic rubber decreased by -X% to X tons in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by +X% against 2017 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2020, and then dropped markedly in the following year.

In value terms, synthetic rubber imports expanded markedly to $X in 2021. Over the period under review, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Thailand (X tons), Vietnam (X tons) and Malaysia (X tons) were the main suppliers of synthetic rubber imports to China, together accounting for X% of total imports. South Korea, Japan, Russia, Saudi Arabia, Myanmar, Germany, Singapore, Taiwan (Chinese) and the United States lagged somewhat behind, together comprising a further X 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber suppliers to China were Thailand ($X), Vietnam ($X) and South Korea ($X), with a combined X% share of total imports. Malaysia, Japan, Russia, Saudi Arabia, the United States, Taiwan (Chinese), Germany, Singapore and Myanmar lagged somewhat behind, together comprising a further X Arabia, with a CAGR of +X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average synthetic rubber import price stood at $X per ton in 2021, increasing by X% against the previous year. In general, the import price, however, showed a pronounced curtailment. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform