ASEAN: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in ASEAN

The ASEAN reclaimed rubber market dropped to $X in 2021, reducing by -9.5% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Reclaimed Rubber Production in ASEAN

In value terms, reclaimed rubber production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 11%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Reclaimed Rubber Exports

Exports in ASEAN

For the sixth consecutive year, ASEAN recorded growth in shipments abroad of reclaimed rubber, which increased by 25% to X tons in 2021. Overall, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 45%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, reclaimed rubber exports skyrocketed to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +112.8% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Thailand (X tons) was the key exporter of reclaimed rubber, constituting 58% of total exports. It was distantly followed by Malaysia (X tons), Indonesia (X tons) and Vietnam (X tons), together mixing up a 41% share of total exports.

Thailand was also the fastest-growing in terms of the reclaimed rubber exports, with a CAGR of +46.0% from 2012 to 2021. At the same time, Indonesia (+5.1%), Vietnam (+4.9%) and Malaysia (+4.4%) displayed positive paces of growth. While the share of Thailand (+52 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Vietnam (-7 p.p.), Indonesia (-10.1 p.p.) and Malaysia (-32.8 p.p.) displayed negative dynamics.

In value terms, the largest reclaimed rubber supplying countries in ASEAN were Thailand ($X), Malaysia ($X) and Indonesia ($X), together accounting for 89% of total exports.

Thailand, with a CAGR of +31.4%, recorded the highest rates of growth with regard to 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 ASEAN stood at $X per ton in 2021, almost unchanged from the previous year. Overall, the export price, however, saw a deep setback. The most prominent rate of growth was recorded in 2019 an increase of 8%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.0%), while the other leaders experienced a decline in the export price figures.

Reclaimed Rubber Imports

Imports in ASEAN

In 2021, supplies from abroad of reclaimed rubber was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, reclaimed rubber imports surged to $X in 2021. Overall, imports, however, recorded a perceptible contraction. The growth pace was the most rapid in 2014 with an increase of 21% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of reclaimed rubber, namely Indonesia, Thailand and Vietnam, represented more than two-thirds of total import. It was distantly followed by the Philippines (X tons) and Malaysia (X tons), together mixing up a 17% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +9.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest reclaimed rubber importing markets in ASEAN were Thailand ($X), Indonesia ($X) and Vietnam ($X), with a combined 81% share of total imports.

In terms of the main importing countries, Thailand, with a CAGR of +7.2%, recorded the highest growth rate of the value of imports, 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 ASEAN amounted to $X per ton, declining by -4.7% against the previous year. Overall, the import price showed a noticeable decrease. The most prominent rate of growth was recorded in 2014 when the import price increased by 7.3% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Thailand ($X per ton) and Vietnam ($X per ton), while Indonesia ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+3.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform