Asia-Pacific: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Asia-Pacific

After five years of growth, the Asia-Pacific reclaimed rubber market decreased by -5.5% to $X in 2021. The market value increased at an average annual rate of +4.3% over the period 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 hit record highs at $X in 2020, and then contracted in the following year.

Reclaimed Rubber Production in Asia-Pacific

In value terms, reclaimed rubber production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 20% against the previous year. The level of production peaked at $X in 2020, and then reduced in the following year.

Reclaimed Rubber Exports

Exports in Asia-Pacific

After two years of decline, overseas shipments of reclaimed rubber increased by 25% to X tons in 2021. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, reclaimed rubber exports soared to $X in 2021. The total export value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, China (X tons), distantly followed by India (X tons), Thailand (X tons) and Malaysia (X tons) represented the key exporters of reclaimed rubber, together generating 92% of total exports. Indonesia (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +46.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest reclaimed rubber supplying countries in Asia-Pacific were China ($X), India ($X) and Thailand ($X), with a combined 84% share of total exports.

Among the main exporting countries, Thailand, with a CAGR of +31.4%, recorded the highest growth rate of the value of exports, 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 Asia-Pacific stood at $X per ton in 2021, with an increase of 3.9% against the previous year. Overall, the export price, however, continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2013 when the export price increased by 11%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Thailand ($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 Asia-Pacific

Reclaimed rubber imports surged to X tons in 2021, increasing by 20% compared with the previous year. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 35% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, reclaimed rubber imports surged to $X in 2021. The total import value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 24% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

China dominates imports structure, resulting at X tons, which was approx. 50% of total imports in 2021. South Korea (X tons) took a 7.8% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (7.6%), Sri Lanka (7.5%), Thailand (7%) and Vietnam (4.9%). Japan (X tons) took a relatively small share of total imports.

China was also the fastest-growing in terms of the reclaimed rubber imports, with a CAGR of +19.4% from 2012 to 2021. At the same time, Thailand (+9.7%), Sri Lanka (+9.4%), South Korea (+7.9%) and Indonesia (+3.6%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, Vietnam (-2.5%) illustrated a downward trend over the same period. China (+30 p.p.) significantly strengthened its position in terms of the total imports, while Japan, Indonesia and Vietnam saw its share reduced by -3.1%, -3.3% and -7.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported reclaimed rubber in Asia-Pacific, comprising 46% of total imports. The second position in the ranking was taken by South Korea ($X), with a 10% share of total imports. It was followed by Thailand, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +12.8%. In the other countries, the average annual rates were as follows: South Korea (+5.8% per year) and Thailand (+7.2% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, standing approx. at the previous year. Overall, the import price, however, continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2014 when the import price increased by 3.2%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, 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 Japan ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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