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

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

The Asia-Pacific market for isoprene rubber (IR) in primary forms expanded notably to $X in 2021, with an increase of 11% against the previous year. Over the period under review, consumption recorded a perceptible contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, production of isoprene rubber (IR) in primary forms dropped slightly to $X in 2021 estimated in export price. In general, production, however, recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 2.9%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports in Asia-Pacific

After three years of decline, shipments abroad of isoprene rubber (IR) in primary forms increased by 10% to X tons in 2021. The total export volume increased at an average annual rate of +4.3% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by 21%. Over the period under review, the exports of reached the maximum in 2021 and are expected to retain growth in the immediate term.

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 +4.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained 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 69% of total exports. Taiwan (Chinese) (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by China (5.5%). Malaysia (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, Thailand (+24.6%), China (+7.1%), South Korea (+4.1%) and Taiwan (Chinese) (+3.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +24.6% from 2012-2021. By contrast, Malaysia (-3.0%) illustrated a downward trend over the same period. While the share of Japan (+5.1 p.p.) and Thailand (+2.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-3.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest isoprene rubber (IR) in primary form supplier in Asia-Pacific, comprising 77% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 6.2% share of total exports. It was followed by Malaysia, with a 5.6% share.

In Japan, exports of isoprene rubber (IR) in primary forms increased at an average annual rate of +4.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+3.8% per year) and Malaysia (+9.7% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, with an increase of 19% against the previous year. In general, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Malaysia ($X per ton), while Taiwan (Chinese) ($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-Pacific

In 2021, the amount of isoprene rubber (IR) in primary forms imported in Asia-Pacific was estimated at X tons, growing by 4.4% against the previous year. Over the period under review, imports, however, showed a mild downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 14% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of isoprene rubber (IR) in primary forms soared to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. Over the period under review, imports of attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X tons) and China (X tons) were the largest importers of isoprene rubber (IR) in primary forms in Asia-Pacific, together constituting 43% of total imports. It was distantly followed by Thailand (X tons), Sri Lanka (X tons), Vietnam (X tons), India (X tons), Japan (X tons) and Indonesia (X tons), together achieving a 50% share 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 India (with a CAGR of +17.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Thailand ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 59% share of total imports. These countries were followed by Sri Lanka, Vietnam, Japan, India and Indonesia, which together accounted for a further 34%.

Sri Lanka, with a CAGR of +12.2%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, growing by 26% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while India ($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