Global Synthetic Rubber Market 2024

Synthetic Rubber Market Size

The global synthetic rubber market fell modestly to $X in 2022, stabilizing at the previous year. In general, consumption showed a slight curtailment. Over the period under review, the global market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Synthetic Rubber Production

In value terms, synthetic rubber production fell modestly to $X in 2022 estimated in export price. Overall, production recorded a mild curtailment. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. Over the period under review, global production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Synthetic Rubber Exports

Exports

For the third year in a row, the global market recorded growth in shipments abroad of synthetic rubber, which increased by X% to X tons in 2022. Overall, total exports indicated a pronounced expansion 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 2019 indices. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, synthetic rubber exports amounted to $X in 2022. Over the period under review, total exports indicated modest growth 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the global exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Thailand (X tons), South Korea (X tons), Vietnam (X tons), Russia (X tons), the United States (X tons), Germany (X tons), China (X tons), Japan (X tons), Taiwan (Chinese) (X tons), Belgium (X tons), Malaysia (X tons) and Singapore (X tons), together finishing at X% of total export.

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

In value terms, the largest synthetic rubber supplying countries worldwide were South Korea ($X), Thailand ($X) and the United States ($X), with a combined X% share of global exports. Japan, Vietnam, Germany, Russia, China, Belgium, Taiwan (Chinese), Singapore and Malaysia lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average synthetic rubber export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price, however, recorded a noticeable slump. The pace of growth was the most pronounced 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 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Vietnam ($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 global leaders experienced a decline in the export price figures.

Synthetic Rubber Imports

Imports

In 2022, after two years of growth, there was decline in overseas purchases of synthetic rubber, when their volume decreased by X% to X tons. Over the period under review, total imports indicated a tangible expansion 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, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Global imports peaked at X tons in 2021, and then declined slightly in the following year.

In value terms, synthetic rubber imports totaled $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

China was the largest importing country with an import of about X tons, which resulted at X% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a X% share, followed by the United States (X%). Thailand (X tons), India (X tons), Belgium (X tons), Germany (X tons), Vietnam (X tons), Turkey (X tons), Indonesia (X tons), Italy (X tons), Brazil (X tons) and Poland (X tons) held a minor share of total imports.

China was also the fastest-growing in terms of the synthetic rubber imports, with a CAGR of X% from 2012 to 2022. At the same time, Vietnam (X%), Turkey (X%), Malaysia (X%), Brazil (X%), Thailand (X%), Italy (X%), Poland (X%), Belgium (X%), the United States (X%), Indonesia (X%) and India (X%) displayed positive paces of growth. Germany experienced a relatively flat trend pattern. While the share of China (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Germany (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported synthetic rubber worldwide, comprising X% of global imports. The second position in the ranking was taken by the United States ($X), with a X% share of global imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: the United States (X% per year) and Germany (X% per year).

Import Prices by Country

The average synthetic rubber import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price, however, continues to indicate a perceptible slump. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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