Asia: Synthetic Latex Rubber Market 2025

Synthetic Latex Rubber Market Size in Asia

In 2021, the Asian synthetic latex rubber market increased by 6.2% to $X, rising for the fifth consecutive year after four years of decline. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in years to come.

Synthetic Latex Rubber Production in Asia

In value terms, synthetic latex rubber production reduced to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 13%. As a result, production attained the peak level of $X, and then reduced in the following year.

Synthetic Latex Rubber Exports

Exports in Asia

In 2021, approx. X tons of synthetic latex rubber were exported in Asia; surging by 14% on 2020 figures. In general, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 22% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, synthetic latex rubber exports surged to $X in 2021. Overall, exports enjoyed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea was the major exporting country with an export of around X tons, which reached 43% of total exports. Taiwan (Chinese) (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by China (15%), Malaysia (7.3%), Thailand (4.9%) and Japan (4.9%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to synthetic latex rubber exports from South Korea stood at +12.0%. At the same time, China (+36.7%), Thailand (+21.4%), Taiwan (Chinese) (+9.5%), Japan (+7.2%), Indonesia (+6.6%) and Malaysia (+6.6%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia, with a CAGR of +36.7% from 2012-2021. China (+13 p.p.) and Thailand (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while Japan, Malaysia and Taiwan (Chinese) saw its share reduced by -2.6%, -4.4% and -5.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and Japan ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 76% of total exports. China, Malaysia, Thailand and Indonesia lagged somewhat behind, together comprising a further 22%.

Among the main exporting countries, China, with a CAGR of +33.1%, saw the highest rates of growth with regard to 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

In 2021, the export price in Asia amounted to $X per ton, picking up by 51% against the previous year. Export price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, synthetic latex rubber export price increased by +41.0% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.5%), while the other leaders experienced more modest paces of growth.

Synthetic Latex Rubber Imports

Imports in Asia

For the tenth consecutive year, Asia recorded growth in overseas purchases of synthetic latex rubber, which increased by 36% to X tons in 2021. Overall, imports showed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, synthetic latex rubber imports skyrocketed to $X in 2021. In general, imports showed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia represented the major importer of synthetic latex rubber in Asia, with the volume of imports resulting at X tons, which was near 54% of total imports in 2021. Thailand (X tons) held the second position in the ranking, followed by China (X tons). All these countries together held near 29% share of total imports. Vietnam (X tons), Turkey (X tons) and Indonesia (X tons) followed a long way behind the leaders.

Imports into Malaysia increased at an average annual rate of +16.3% from 2012 to 2021. At the same time, Vietnam (+23.2%), Thailand (+11.4%), China (+8.6%), Indonesia (+8.1%) and Turkey (+6.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, with a CAGR of +23.2% from 2012-2021. From 2012 to 2021, the share of Malaysia and Vietnam increased by +15 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported synthetic latex rubber in Asia, comprising 52% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Thailand, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Malaysia amounted to +17.4%. In the other countries, the average annual rates were as follows: China (+11.2% per year) and Thailand (+9.9% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, rising by 41% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Indonesia ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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