Indonesia: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in Indonesia

The Indonesian synthetic latex rubber market declined markedly to $X in 2022, falling by X% against the previous year. Overall, consumption recorded a noticeable shrinkage. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Synthetic Latex Rubber Production in Indonesia

In value terms, synthetic latex rubber production shrank to $X in 2022 estimated in export price. In general, production showed a noticeable curtailment. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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Synthetic Latex Rubber Exports

Exports from Indonesia

In 2022, the amount of synthetic latex rubber exported from Indonesia amounted to X tons, rising by X% on the previous year's figure. Overall, total exports indicated a buoyant expansion 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. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, synthetic latex rubber exports expanded remarkably to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

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

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

In value terms, Australia ($X), Malaysia ($X) and Vietnam ($X) were the largest markets for synthetic latex rubber exported from Indonesia worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Australia, with a CAGR of X%, saw the highest growth rate of 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 latex rubber export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price, however, showed a pronounced setback. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Australia ($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 China (X%), while the prices for the other major destinations experienced mixed trend patterns.

Synthetic Latex Rubber Imports

Imports into Indonesia

In 2022, purchases abroad of synthetic latex rubber decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, imports, however, continue to indicate a mild expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then dropped dramatically in the following year.

In value terms, synthetic latex rubber imports declined dramatically to $X in 2022. Overall, imports, however, continue to indicate a tangible 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 dropped dramatically in the following year.

Imports by Country

Japan (X tons), South Korea (X tons) and Malaysia (X tons) were the main suppliers of synthetic latex rubber imports to Indonesia, together accounting for X% of total imports. The United States, China, Taiwan (Chinese) and India lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

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

Import Prices by Country

The average synthetic latex rubber import price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, import price indicated a slight 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 2015 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

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

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

Source: IndexBox Platform

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