South-Eastern Asia: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in South-Eastern Asia

The Southeast Asian synthetic rubber market contracted remarkably to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption saw a deep downturn. As a result, consumption attained the peak level of $X, and then fell markedly in the following year.

Synthetic Rubber Production in South-Eastern Asia

In value terms, synthetic rubber production declined to $X in 2022 estimated in export price. In general, production, however, recorded a prominent increase. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. The level of production peaked at $X in 2021, and then fell in the following year.

Synthetic Rubber Exports

Exports in South-Eastern Asia

In 2022, the amount of synthetic rubber exported in South-Eastern Asia soared to X tons, with an increase of X% compared with the previous year. Overall, exports showed significant growth. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, synthetic rubber exports soared to $X in 2022. Over the period under review, exports posted a significant increase. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Thailand (X tons) and Vietnam (X tons) represented roughly X% of total exports in 2022. Malaysia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (X%). The following exporters - Indonesia (X tons) and Myanmar (X tons) - each accounted for a X% share of total exports.

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

In value terms, Thailand ($X), Vietnam ($X) and Singapore ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Malaysia, Indonesia and Myanmar lagged somewhat behind, together accounting for a further X%.

Myanmar, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, stabilizing at the previous year. Over the period under review, the export price, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the export price figures.

Synthetic Rubber Imports

Imports in South-Eastern Asia

In 2022, after ten years of growth, there was significant decline in overseas purchases of synthetic rubber, when their volume decreased by X% to X tons. Total imports indicated temperate 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. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then fell rapidly in the following year.

In value terms, synthetic rubber imports declined remarkably to $X in 2022. Total imports indicated a mild 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then fell sharply in the following year.

Imports by Country

In 2022, Malaysia (X tons), Thailand (X tons), Vietnam (X tons) and Indonesia (X tons) was the largest importer of synthetic rubber in South-Eastern Asia, generating X% of total import. The following importers - Singapore (X tons), Cambodia (X tons) and the Philippines (X tons) - together made up X% of total imports.

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

In value terms, Thailand ($X), Vietnam ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Indonesia, Singapore, Cambodia and the Philippines lagged somewhat behind, together accounting for a further X%.

Cambodia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, saw a pronounced slump. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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