Southern Asia: Market for Isoprene Rubber (IR) in Primary Forms 2023

Exports of Isoprene Rubber (IR) in Primary Forms

Exports in Southern Asia

In 2021, shipments abroad of isoprene rubber (IR) in primary forms increased by 56% to X tons, rising for the fourth consecutive year after three years of decline. In general, exports saw a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 83%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, exports of isoprene rubber (IR) in primary forms surged to $X in 2021. Over the period under review, exports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2019 when exports increased by 73% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India prevails in forms structure, recording X tons, which was near 91% of total exports in 2021. It was distantly followed by Sri Lanka (X tons), creating a 5.6% share of total exports. Pakistan (X tons) held a little share of total exports.

India was also the fastest-growing in terms of the isoprene rubber (IR) in primary forms exports, with a CAGR of +13.3% from 2012 to 2021. At the same time, Pakistan (+12.7%) displayed positive paces of growth. By contrast, Sri Lanka (-2.8%) illustrated a downward trend over the same period. While the share of India (+13 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Sri Lanka (-13.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest isoprene rubber (IR) in primary form supplier in Southern Asia, comprising 71% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 23% share of total exports.

In India, exports of isoprene rubber (IR) in primary forms increased at an average annual rate of +10.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Sri Lanka (+0.9% per year) and Pakistan (+21.7% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, with an increase of 5.8% against the previous year. In general, the export price, however, continues to indicate a pronounced setback. The pace of growth appeared the most rapid in 2019 an increase of 28%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Sri Lanka ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+7.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports in Southern Asia

Imports of isoprene rubber (IR) in primary forms skyrocketed to X tons in 2021, picking up by 102% compared with the year before. Over the period under review, imports enjoyed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of isoprene rubber (IR) in primary forms skyrocketed to $X in 2021. Overall, imports enjoyed a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Sri Lanka (X tons) and India (X tons) prevails in forms structure, together committing 93% of total imports. It was distantly followed by Pakistan (X tons), constituting a 6.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +17.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sri Lanka ($X), India ($X) and Pakistan ($X) constituted the countries with the highest levels of imports in 2021, with a combined 99% share of total imports.

Sri Lanka, with a CAGR of +12.2%, saw the highest growth rate of the value of imports, in terms of 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 2021, the import price in Southern Asia amounted to $X per ton, growing by 16% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Pakistan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+3.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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