ASEAN: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in ASEAN

The ASEAN unvulcanised rubber market expanded significantly to $X in 2021, growing by 12% against the previous year. The market value increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Unvulcanised Rubber Production in ASEAN

In value terms, unvulcanised rubber production surged to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Unvulcanised Rubber Exports

Exports in ASEAN

In 2021, overseas shipments of unvulcanised rubber increased by 25% to X tons, rising for the second consecutive year after five years of decline. Over the period under review, exports, however, showed a perceptible downturn. The growth pace was the most rapid in 2014 when exports increased by 26% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, unvulcanised rubber exports soared to $X in 2021. Overall, exports, however, continue to indicate a abrupt contraction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand was the major exporting country with an export of about X tons, which resulted at 61% of total exports. Malaysia (X tons) took the second position in the ranking, followed by Indonesia (X tons). All these countries together took approx. 36% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

Exports from Thailand decreased at an average annual rate of -5.6% from 2012 to 2021. At the same time, Vietnam (+20.5%) and Malaysia (+11.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +20.5% from 2012-2021. By contrast, Indonesia (-1.8%) illustrated a downward trend over the same period. Malaysia (+15 p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by -18.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest unvulcanised rubber supplier in ASEAN, comprising 65% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 16% share of total exports. It was followed by Indonesia, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Thailand totaled -7.1%. In the other countries, the average annual rates were as follows: Malaysia (+1.9% per year) and Indonesia (-4.1% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, picking up by 13% against the previous year. Overall, the export price, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2017 an increase of 30% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-1.6%), while the other leaders experienced a decline in the export price figures.

Unvulcanised Rubber Imports

Imports in ASEAN

In 2021, supplies from abroad of unvulcanised rubber decreased by -0.1% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, posted a resilient increase. The growth pace was the most rapid in 2019 with an increase of 43% against the previous year. The volume of import peaked at X tons in 2020, and then shrank in the following year.

In value terms, unvulcanised rubber imports stood at $X in 2021. Over the period under review, imports, however, posted a strong expansion. The growth pace was the most rapid in 2019 when imports increased by 40% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Vietnam (X tons) and Thailand (X tons) represented the key importers of unvulcanised rubber in ASEAN, together creating 76% of total imports. Indonesia (X tons) took the next position in the ranking, distantly followed by the Philippines (X tons). All these countries together took approx. 19% share of total imports. The following importers - Malaysia (X tons) and Singapore (X tons) - together made up 4.9% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of +25.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest unvulcanised rubber importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Indonesia ($X), with a combined 84% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +21.3%, 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, leveling off at the previous year. Overall, the import price, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2018 when the import price increased by 6.1% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+3.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform