Norway: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Norway

In 2022, the Norwegian synthetic rubber market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption recorded a noticeable setback. Synthetic rubber consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Synthetic Rubber Exports

Exports from Norway

After two years of growth, shipments abroad of synthetic rubber decreased by X% to X tons in 2022. Over the period under review, exports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then fell markedly in the following year.

In value terms, synthetic rubber exports shrank slightly to $X in 2022. Overall, total exports indicated a slight 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Finland (X tons), Sweden (X tons) and Denmark (X tons) were the main destinations of synthetic rubber exports from Norway, with a combined X% share of total exports. Latvia, Lithuania and Estonia lagged somewhat behind, together accounting for a further X%.

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

In value terms, Finland ($X), Sweden ($X) and Denmark ($X) appeared to be the largest markets for synthetic rubber exported from Norway worldwide, with a combined X% share of total exports. Lithuania, Latvia and Estonia lagged somewhat behind, together comprising a further X%.

Lithuania, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination 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 2022, rising by X% against the previous year. Overall, the export price, however, continues to indicate a abrupt contraction. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Finland ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced a decline.

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Synthetic Rubber Imports

Imports into Norway

In 2022, approx. X tons of synthetic rubber were imported into Norway; dropping by X% on the previous year. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, synthetic rubber imports expanded slightly to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Sweden (X tons), South Korea (X tons) and Spain (X tons) were the main suppliers of synthetic rubber imports to Norway, with a combined X% share of total imports. Germany, the Netherlands, the Czech Republic, Poland, France, the United States, Finland, Denmark and Italy 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 the Czech Republic (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 Norway were South Korea ($X), Sweden ($X) and Germany ($X), together accounting for X% of total imports. The United States, the Netherlands, Spain, France, Poland, the Czech Republic, Denmark, Finland and Italy lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, the Czech Republic, with a CAGR of X%, saw 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

In 2022, the average synthetic rubber import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 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 the United States ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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