Asia: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in Asia

The Asian market for isoprene rubber (IR) in primary forms soared to $X in 2021, growing by 19% against the previous year. Over the period under review, consumption, however, showed a pronounced reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Isoprene Rubber (IR) in Primary Forms in Asia

In value terms, production of isoprene rubber (IR) in primary forms fell slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 3%. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports in Asia

In 2021, the amount of isoprene rubber (IR) in primary forms exported in Asia expanded markedly to X tons, growing by 12% compared with 2020 figures. The total export volume increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by 21%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, exports of isoprene rubber (IR) in primary forms soared to $X in 2021. The total export value increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan represented the major exporting country with an export of about X tons, which reached 66% of total exports. Taiwan (Chinese) (X tons) ranks second in terms of the total exports with a 12% share, followed by China (5.3%). Malaysia (X tons), Saudi Arabia (X tons), Thailand (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to isoprene rubber (IR) in primary form exports from Japan stood at +5.2%. At the same time, Saudi Arabia (+27.6%), Thailand (+24.6%), China (+7.1%), South Korea (+4.1%) and Taiwan (Chinese) (+3.2%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +27.6% from 2012-2021. By contrast, Malaysia (-3.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan, Saudi Arabia and Thailand increased by +3.3, +3.1 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest isoprene rubber (IR) in primary form supplier in Asia, comprising 76% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 6.1% share of total exports. It was followed by Malaysia, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan totaled +4.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+3.8% per year) and Malaysia (+9.7% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, surging by 18% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Malaysia ($X per ton), while Saudi Arabia ($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 (+13.1%), while the other leaders experienced more modest paces of growth.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports in Asia

Imports of isoprene rubber (IR) in primary forms expanded notably to X tons in 2021, picking up by 14% compared with 2020. Overall, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of isoprene rubber (IR) in primary forms surged to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of imports of isoprene rubber (IR) in primary forms in 2021 were Malaysia (X tons), Turkey (X tons) and China (X tons), together finishing at 52% of total import. It was distantly followed by Thailand (X tons), Sri Lanka (X tons), Vietnam (X tons), India (X tons) and Japan (X tons), together creating a 37% 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, the largest isoprene rubber (IR) in primary form importing markets in Asia were Malaysia ($X), Thailand ($X) and China ($X), with a combined 51% share of total imports. These countries were followed by Turkey, Sri Lanka, Vietnam, Japan and India, which together accounted for a further 37%.

Among the main importing countries, Sri Lanka, with a CAGR of +12.2%, saw 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 Asia amounted to $X per ton, increasing by 23% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform