Asia: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Asia

In 2021, after four years of growth, there was decline in the Asian reclaimed rubber market, when its value decreased by -3.8% to $X. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then dropped modestly in the following year.

Reclaimed Rubber Production in Asia

In value terms, reclaimed rubber production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period 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 2013 with an increase of 19%. The level of production peaked at $X in 2020, and then declined modestly in the following year.

Reclaimed Rubber Exports

Exports in Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of reclaimed rubber, when their volume increased by 25% to X tons. Total exports indicated a prominent expansion 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 +2.3% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed 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 main exporters of reclaimed rubber, together committing 90% of total exports. The following exporters - Indonesia (X tons) and Vietnam (X tons) - together made up 4.8% of total exports.

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 were China ($X), India ($X) and Thailand ($X), with a combined 82% share of total exports.

Thailand, with a CAGR of +31.4%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2021, the export price in Asia amounted to $X per ton, increasing by 4% against the previous year. In general, the export price, however, recorded a pronounced downturn. The pace of growth was the most pronounced in 2013 an increase of 11% against the previous year. 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.

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 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

In 2021, reclaimed rubber imports in Asia soared to X tons, with an increase of 22% on the year before. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 35%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, reclaimed rubber imports soared to $X in 2021. The total import value increased at an average annual rate of +3.3% over the period 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 2017 when imports increased by 22% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

Imports by Country

China represented the key importer of reclaimed rubber in Asia, with the volume of imports accounting for X tons, which was approx. 48% of total imports in 2021. South Korea (X tons) took a 7.4% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (7.2%), Sri Lanka (7.2%), Thailand (6.6%) and Vietnam (4.7%). Turkey (X tons) held 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. Turkey experienced a relatively flat trend pattern. By contrast, Vietnam (-2.5%) illustrated a downward trend over the same period. China (+29 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia, Turkey and Vietnam saw its share reduced by -2.8%, -4.1% and -6.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported reclaimed rubber in Asia, comprising 44% of total imports. The second position in the ranking was held by South Korea ($X), with a 9.8% share of total imports. It was followed by Thailand, with a 7.5% share.

In China, reclaimed rubber imports increased at an average annual rate of +12.8% over the period from 2012-2021. 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

In 2021, the import price in Asia amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price, however, saw a perceptible decline. The growth pace was the most rapid in 2019 when the import price increased by 3.5%. Over the period under review, import prices hit record highs 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, amid the top importers, the country with the highest price was South Korea ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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