Pakistan: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Pakistan

In 2022, after two years of growth, there was significant decline in the Pakistani synthetic rubber (excluding latex) market, when its value decreased by X% to $X. Over the period under review, the total consumption indicated a tangible expansion 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, consumption increased by X% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2021, and then shrank in the following year.

Exports of Synthetic Rubber (Excluding Latex)

Exports from Pakistan

For the third consecutive year, Pakistan recorded growth in overseas shipments of synthetic rubber (excluding latex), which increased by X% to X tons in 2022. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, synthetic rubber (excluding latex) exports surged to $X in 2022. Over the period under review, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Afghanistan (X tons) was the main destination for synthetic rubber (excluding latex) exports from Pakistan, accounting for a X% share of total exports. Moreover, synthetic rubber (excluding latex) exports to Afghanistan exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was held by Austria (X kg), with a X% share.

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

In value terms, Afghanistan ($X) remains the key foreign market for synthetic rubber (excluding latex) exports from Pakistan, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Austria, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Afghanistan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Austria (X% per year).

Export Prices by Country

The average synthetic rubber (excluding latex) export price stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to the Netherlands ($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 Bangladesh (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Rubber (Excluding Latex)

Imports into Pakistan

In 2022, after two years of growth, there was significant decline in purchases abroad of synthetic rubber (excluding latex), when their volume decreased by X% to X tons. Overall, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2021, and then fell in the following year.

In value terms, synthetic rubber (excluding latex) imports declined to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest synthetic rubber (excluding latex) supplier to Pakistan, accounting for a X% share of total imports. Moreover, synthetic rubber (excluding latex) imports from China exceeded the figures recorded by the second-largest supplier, Russia (X tons), fivefold. The third position in this ranking was held by South Korea (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and South Korea (X% per year).

In value terms, China ($X) constituted the largest supplier of synthetic rubber (excluding latex) to Pakistan, comprising X% of total imports. The second position in the ranking was taken by Russia ($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 from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and South Korea (X% per year).

Import Prices by Country

The average synthetic rubber (excluding latex) import price stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the import price showed a noticeable descent. The pace of growth appeared the most rapid in 2015 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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