Singapore: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in Singapore

The Singaporean synthetic latex rubber market rose markedly to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Synthetic Latex Rubber Production in Singapore

In value terms, synthetic latex rubber production dropped modestly to $X in 2022 estimated in export price. In general, the total production indicated a measured 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Synthetic Latex Rubber Exports

Exports from Singapore

In 2022, approx. X tons of synthetic latex rubber were exported from Singapore; waning by X% compared with 2021. Overall, exports saw a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, synthetic latex rubber exports reduced rapidly to $X in 2022. In general, exports saw a deep reduction. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

South Korea (X tons), Malaysia (X tons) and Sri Lanka (X tons) were the main destinations of synthetic latex rubber exports from Singapore, with a combined X% share of total exports. Germany, Hong Kong SAR, Taiwan (Chinese), Bangladesh, Papua New Guinea, China, Brunei Darussalam, India, Japan and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, South Korea ($X), India ($X) and Malaysia ($X) appeared to be the largest markets for synthetic latex rubber exported from Singapore worldwide, with a combined X% share of total exports. Sri Lanka, Papua New Guinea, Germany, Taiwan (Chinese), Hong Kong SAR, Brunei Darussalam, Japan, Thailand, China and Bangladesh lagged somewhat behind, together comprising a further X%.

Germany, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average synthetic latex rubber export price amounted to $X per ton, increasing by X% against the previous year. Overall, export price indicated a noticeable 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 export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

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 India ($X per ton), while the average price for exports to Bangladesh ($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 India (X%), while the prices for the other major destinations experienced mixed trend patterns.

Synthetic Latex Rubber Imports

Imports into Singapore

In 2022, purchases abroad of synthetic latex rubber increased by X% to X tons, rising for the second year in a row after four years of decline. Overall, imports, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, synthetic latex rubber imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest synthetic latex rubber supplier to Singapore, accounting for a X% share of total imports. Moreover, synthetic latex rubber imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), twofold. Malaysia (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X) constituted the largest supplier of synthetic latex rubber to Singapore, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Indonesia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the average synthetic latex rubber import price amounted to $X per ton, standing approx. at the previous year. Overall, import price indicated a mild 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 2018 indices. The growth pace was the most rapid in 2021 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton, leveling off 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 ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :