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

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

In 2022, the Estonian market for isoprene rubber (IR) in primary forms decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption continues to indicate a noticeable decline. Consumption of peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports from Estonia

In 2022, after six years of decline, there was significant growth in shipments abroad of isoprene rubber (IR) in primary forms, when their volume increased by X% to X tons. In general, exports, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, exports of isoprene rubber (IR) in primary forms skyrocketed to $X in 2022. Over the period under review, exports, however, showed a perceptible descent. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for exports of isoprene rubber (IR) in primary forms from Estonia, with a X% share of total exports. Moreover, exports of isoprene rubber (IR) in primary forms to Germany exceeded the volume sent to the second major destination, Lithuania (X tons), twofold. The third position in this ranking was taken by Croatia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Croatia (X% per year).

In value terms, Germany ($X) emerged as the key foreign market for isoprene rubber (IR) in primary forms exports from Estonia, comprising X% of total exports. The second position in the ranking was held by Lithuania ($X), with a X% share of total exports. It was followed by Croatia, with a X% share.

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

Export Prices by Country

In 2022, the average export price for isoprene rubber (IR) in primary forms amounted to $X per ton, rising by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Croatia ($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 Tunisia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports into Estonia

Imports of isoprene rubber (IR) in primary forms into Estonia shrank to X tons in 2022, dropping by X% compared with the year before. Over the period under review, imports saw a slight reduction. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, imports of isoprene rubber (IR) in primary forms dropped to $X in 2022. In general, imports recorded a deep downturn. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest isoprene rubber (IR) in primary form supplier to Estonia, accounting for a X% share of total imports. Moreover, imports of isoprene rubber (IR) in primary forms from India exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold.

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

In value terms, India ($X), Russia ($X) and Belgium ($X) were the largest isoprene rubber (IR) in primary form suppliers to Estonia, with a combined X% share of total imports.

India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for isoprene rubber (IR) in primary forms stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price, however, recorded a perceptible decrease. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for India ($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 mixed trend patterns.

Source: IndexBox Platform

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