Bangladesh: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Bangladesh

The Bangladeshi unvulcanized rubber market dropped significantly to $X in 2022, with a decrease of -15.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, posted resilient growth. As a result, consumption attained the peak level of $X, and then declined significantly in the following year.

Unvulcanized Rubber Exports

Exports from Bangladesh

In 2022, exports of unvulcanized rubber and articles thereof from Bangladesh expanded notably to X tons, growing by 11% on the year before. Overall, exports, however, saw a abrupt slump. The pace of growth was the most pronounced in 2014 when exports increased by 42%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, unvulcanized rubber exports amounted to $X in 2022. In general, exports, however, recorded a drastic downturn. The growth pace was the most rapid in 2018 when exports increased by 14%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Fiji (X tons), Hong Kong SAR (X tons) and Japan (X tons) were the main destinations of unvulcanized rubber exports from Bangladesh, with a combined 94% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +997.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for unvulcanized rubber exported from Bangladesh were Fiji ($X), Hong Kong SAR ($X) and Bosnia and Herzegovina ($X), with a combined 82% share of total exports.

Bosnia and Herzegovina, with a CAGR of +236.0%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average unvulcanized rubber export price stood at $X per ton in 2022, falling by -8.9% against the previous year. Over the period under review, the export price showed a slight contraction. The pace of growth appeared the most rapid in 2021 when the average export price increased by 20% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+20.4%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanized Rubber Imports

Imports into Bangladesh

In 2022, imports of unvulcanized rubber and articles thereof into Bangladesh fell to X tons, which is down by -9.1% compared with the previous year's figure. In general, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 33% against the previous year. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, unvulcanized rubber imports declined notably to $X in 2022. Over the period under review, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 51%. As a result, imports attained the peak of $X, and then declined sharply in the following year.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of unvulcanized rubber to Bangladesh, with a 51% share of total imports. Moreover, unvulcanized rubber imports from Malaysia exceeded the figures recorded by the second-largest supplier, Thailand (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia totaled +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+15.9% per year) and China (+12.2% per year).

In value terms, Malaysia ($X) constituted the largest supplier of unvulcanized rubber and articles thereof to Bangladesh, comprising 48% of total imports. The second position in the ranking was held by Thailand ($X), with a 21% share of total imports. It was followed by China, with a 19% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+13.5% per year) and China (+16.7% per year).

Import Prices by Country

The average unvulcanized rubber import price stood at $X per ton in 2022, shrinking by -8.5% against the previous year. In general, the import price continues to indicate a slight descent. The pace of growth appeared the most rapid in 2021 an increase of 24%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per ton) and India ($X per ton), while the price for Thailand ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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