South Africa: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in South Africa

After two years of growth, the South African synthetic latex rubber market decreased by X% to $X in 2022. Over the period under review, consumption recorded a drastic downturn. Over the period under review, the market reached the peak level at $X in 2021, and then shrank markedly in the following year.

Synthetic Latex Rubber Exports

Exports from South Africa

In 2022, approx. X tons of synthetic latex rubber were exported from South Africa; with an increase of X% on 2021 figures. In general, total exports indicated resilient growth from 2012 to 2022: its volume 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 2014 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, synthetic latex rubber exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed temperate growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The UK (X tons), Zambia (X tons) and Namibia (X tons) were the main destinations of synthetic latex rubber exports from South Africa, together comprising X% of total exports.

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

In value terms, the UK ($X), Zambia ($X) and Namibia ($X) constituted the largest markets for synthetic latex rubber exported from South Africa worldwide, together comprising X% of total exports.

In terms of the main countries of destination, the UK, with a CAGR of X%, saw 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

In 2022, the average synthetic latex rubber export price amounted to $X per ton, declining by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the 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 Mozambique ($X per ton), while the average price for exports to Mauritius ($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 Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Synthetic Latex Rubber Imports

Imports into South Africa

After two years of growth, purchases abroad of synthetic latex rubber decreased by X% to X tons in 2022. Over the period under review, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, synthetic latex rubber imports dropped significantly to $X in 2022. Overall, imports continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2020 when imports increased by X%. Imports peaked at $X in 2021, and then dropped notably in the following year.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of synthetic latex rubber to South Africa, with a X% share of total imports. Moreover, synthetic latex rubber imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by South Korea (X tons), with a X% share.

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

In value terms, the largest synthetic latex rubber suppliers to South Africa were South Korea ($X), China ($X) and Germany ($X), together accounting for X% of total imports.

South Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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 latex rubber import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price, however, continues to indicate a moderate expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then contracted rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for the Netherlands ($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 more modest paces of growth.

Source: IndexBox Platform

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