Eastern Asia: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Eastern Asia

The East Asian synthetic rubber (excluding latex) market declined modestly to $X in 2022, leveling off at the previous year. Overall, consumption showed a noticeable setback. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Synthetic Rubber (Excluding Latex) in Eastern Asia

In value terms, synthetic rubber (excluding latex) production dropped to $X in 2022 estimated in export price. In general, production showed a abrupt decline. The pace of growth was the most pronounced in 2021 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 failed to regain momentum.

Exports of Synthetic Rubber (Excluding Latex)

Exports in Eastern Asia

In 2022, synthetic rubber (excluding latex) exports in Eastern Asia reduced to X tons, remaining stable against the year before. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, leveling off in the following year.

In value terms, synthetic rubber (excluding latex) exports amounted to $X in 2022. Overall, exports continue to indicate a slight shrinkage. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

South Korea was the largest exporter of synthetic rubber (excluding latex) in Eastern Asia, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons), together mixing up a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber (excluding latex) supplying countries in Eastern Asia were South Korea ($X), Japan ($X) and China ($X), with a combined X% share of total exports.

China, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, growing by X% against the previous year. Overall, the export price, however, recorded a pronounced slump. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum 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 origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea ($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 other leaders experienced a decline in the export price figures.

Imports of Synthetic Rubber (Excluding Latex)

Imports in Eastern Asia

In 2022, imports of synthetic rubber (excluding latex) in Eastern Asia stood at X tons, picking up by X% compared with 2021. Over the period under review, imports showed buoyant growth. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, synthetic rubber (excluding latex) imports amounted to $X in 2022. Total imports indicated a noticeable 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 growth pace was the most rapid in 2017 when imports increased by X%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

China dominates imports structure, amounting to X tons, which was approx. X% of total imports in 2022. Japan (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) took a little share of total imports.

China was also the fastest-growing in terms of the synthetic rubber (excluding latex) imports, with a CAGR of X% from 2012 to 2022. South Korea and Japan experienced a relatively flat trend pattern. Taiwan (Chinese) (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total imports, while South Korea, Taiwan (Chinese) and Japan saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, China ($X) constitutes the largest market for imported synthetic rubber (excluding latex) in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price, however, recorded a abrupt slump. The growth pace was the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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