Azerbaijan: Synthetic Rubber Market 2025

Synthetic Rubber Market Size in Azerbaijan

In 2021, the Azerbaijani synthetic rubber market increased by 16% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption saw a prominent increase. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Synthetic Rubber Exports

Exports from Azerbaijan

Synthetic rubber exports from Azerbaijan soared to X tons in 2020, growing by 888% compared with the previous year's figure. In general, exports, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2018 when exports increased by 801,980% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2020, the growth of the exports remained at a somewhat lower figure.

In value terms, synthetic rubber exports skyrocketed to $X in 2020. Overall, exports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 when exports increased by 198,667% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2020, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Turkmenistan (X tons), Turkey (X tons) and Russia (X kg) were the main destinations of synthetic rubber exports from Azerbaijan, with a combined 97% share of total exports.

From 2015 to 2020, the biggest increases were recorded for Turkmenistan (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, Turkmenistan ($X), Turkey ($X) and Russia ($X) appeared to be the largest markets for synthetic rubber exported from Azerbaijan worldwide, with a combined 92% share of total exports.

Among the main countries of destination, Turkmenistan, with a CAGR of 0.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average synthetic rubber export price stood at $X per ton in 2020, approximately reflecting the previous year. Overall, the export price faced a abrupt contraction. The most prominent rate of growth was recorded in 2016 an increase of 766%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2020, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2015 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+1.1%), while the prices for the other major destinations experienced a decline.

Synthetic Rubber Imports

Imports into Azerbaijan

In 2021, overseas purchases of synthetic rubber increased by 1.2% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports saw a buoyant increase. The growth pace was the most rapid in 2013 with an increase of 134%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, synthetic rubber imports skyrocketed to $X in 2021. Overall, imports showed buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of 118% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Turkey (X tons), the United Arab Emirates (X tons) and the Netherlands (X tons) were the main suppliers of synthetic rubber imports to Azerbaijan, together comprising 40% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +30.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United Arab Emirates ($X) and Germany ($X) appeared to be the largest synthetic rubber suppliers to Azerbaijan, together comprising 41% of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of +33.0%, recorded the highest rates of growth with regard to 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 average synthetic rubber import price amounted to $X per ton, increasing by 40% against the previous year. Over the period under review, the import price, however, showed a perceptible descent. The pace of growth was the most pronounced in 2016 an increase of 99% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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