Southern Asia: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Southern Asia

In 2022, the South Asian synthetic rubber market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, recorded a slight reduction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Synthetic Rubber Production in Southern Asia

In value terms, synthetic rubber production soared to $X in 2022 estimated in export price. Over the period under review, production, however, showed a perceptible setback. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Synthetic Rubber Exports

Exports in Southern Asia

In 2022, overseas shipments of synthetic rubber decreased by X% to X tons, falling for the second consecutive year after four years of growth. In general, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, synthetic rubber exports totaled $X in 2022. Overall, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

The shipments of the one major exporters of synthetic rubber, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the synthetic rubber exports, with a CAGR of X% from 2012 to 2022. India (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest synthetic rubber supplier in Southern Asia.

In India, synthetic rubber exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price, however, saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Synthetic Rubber Imports

Imports in Southern Asia

In 2022, approx. X tons of synthetic rubber were imported in Southern Asia; waning by X% on 2021 figures. 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 appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, synthetic rubber imports rose notably to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

India was the largest importer of synthetic rubber in Southern Asia, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. Pakistan (X tons) held the second position in the ranking, followed by Sri Lanka (X tons). All these countries together held near X% share of total imports. Bangladesh (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, Bangladesh (X%), Pakistan (X%) and Sri Lanka (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Pakistan and Sri Lanka increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported synthetic rubber in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with an X% share of total imports. It was followed by Pakistan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in India was relatively modest. In the other countries, the average annual rates were as follows: Sri Lanka (X% per year) and Pakistan (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price, however, showed a pronounced downturn. The most prominent rate of growth was recorded 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 remained at a lower figure.

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 India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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