Iran: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Iran

The Iranian synthetic rubber market skyrocketed to $X in 2022, increasing by X% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Synthetic rubber consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Synthetic Rubber Production in Iran

In value terms, synthetic rubber production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. Synthetic rubber production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Synthetic Rubber Exports

Exports from Iran

For the fourth year in a row, Iran recorded growth in shipments abroad of synthetic rubber, which increased by X% to X tons in 2018. The total export volume increased at an average annual rate of X% from 2015 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked in 2018 and are expected to retain growth in the immediate term.

In value terms, synthetic rubber exports declined to $X in 2018. In general, exports, however, continue to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

Turkey (X tons), China (X tons) and India (X tons) were the main destinations of synthetic rubber exports from Iran, together comprising X% of total exports. Pakistan, Italy, Thailand and Malaysia lagged somewhat behind, together accounting for a further X%.

From 2015 to 2018, the biggest increases were recorded for Pakistan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic rubber exported from Iran were Turkey ($X), China ($X) and India ($X), with a combined X% share of total exports. Pakistan, Italy, Thailand and Malaysia lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Pakistan, with a CAGR of X%, recorded 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 rubber export price stood at $X per ton in 2018, which is down by X% against the previous year. Over the period under review, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2017 when the average export price decreased by X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2018, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2018, amid the top suppliers, the highest price was recorded for prices to Pakistan ($X per ton) and Italy ($X per ton), while the average price for exports to Turkey ($X per ton) and India ($X per ton) were amongst the lowest.

From 2015 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced a decline.

Synthetic Rubber Imports

Imports into Iran

In 2022, supplies from abroad of synthetic rubber was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. In general, imports, however, showed a pronounced descent. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, synthetic rubber imports surged to $X in 2022. Over the period under review, imports, however, recorded a abrupt decline. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Turkey (X tons) and the United Arab Emirates (X tons) were the main suppliers of synthetic rubber imports to Iran, with a combined X% share of total imports.

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

In value terms, China ($X), the United Arab Emirates ($X) and Turkey ($X) were the largest synthetic rubber suppliers to Iran, together accounting for X% of total imports.

In terms of the main suppliers, Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to 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 rubber import price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the import price saw a deep downturn. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United Arab Emirates ($X per ton) and South Korea ($X per ton), while the price for Turkey ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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