Russian Federation: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in the Russian Federation

In 2022, the Russian synthetic rubber market was finally on the rise to reach $X after three years of decline. Overall, consumption, however, continues to indicate a noticeable contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Synthetic Rubber Production in the Russian Federation

In value terms, synthetic rubber production reduced to $X in 2022 estimated in export price. In general, production, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Synthetic rubber production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Synthetic Rubber Exports

Exports from the Russian Federation

Synthetic rubber exports from Russia reduced modestly to X tons in 2022, waning by X% on 2021. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2015 when exports increased by X%. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, synthetic rubber exports reduced modestly to $X in 2022. Over the period under review, exports saw a noticeable decrease. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X tons), China (X tons) and Turkey (X tons) were the main destinations of synthetic rubber exports from Russia, with a combined X% share of total exports. Hungary, the United States, Mexico, India, Romania, Spain, Slovakia, Brazil, the Czech Republic and Germany lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), China ($X) and Turkey ($X) appeared to be the largest markets for synthetic rubber exported from Russia worldwide, together comprising X% of total exports. Hungary, the United States, Mexico, India, Slovakia, Romania, Spain, Brazil, the Czech Republic and Germany lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Mexico, with a CAGR of X%, saw the highest rates of growth with regard to 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 2022, flattening at the previous year. In general, the export price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Hungary ($X per ton) and Poland ($X per ton), while the average price for exports to Spain ($X per ton) and Brazil ($X per ton) were 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 a decline.

Synthetic Rubber Imports

Imports into the Russian Federation

In 2022, approx. X tons of synthetic rubber were imported into Russia; growing by X% compared with the year before. The total import volume 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 throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, synthetic rubber imports shrank to $X in 2022. Over the period under review, imports, however, showed a slight setback. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), South Korea (X tons) and Finland (X tons) were the main suppliers of synthetic rubber imports to Russia, with a combined X% share of total imports. Taiwan (Chinese), Japan, China, the Czech Republic, the United States, Italy, the Netherlands, the UK, France and Saudi Arabia 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 Saudi Arabia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), South Korea ($X) and Taiwan (Chinese) ($X) were the largest synthetic rubber suppliers to Russia, with a combined X% share of total imports. Japan, China, Finland, the United States, the Netherlands, the Czech Republic, Italy, the UK, Saudi Arabia and France lagged somewhat behind, together accounting for a further X%.

Saudi Arabia, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers 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. In general, the import price saw a abrupt contraction. The pace of growth appeared the most rapid in 2021 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 remained at a lower figure.

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 Japan ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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