Benelux: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Benelux

In 2021, the Benelux synthetic rubber (excluding latex) market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, saw a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Synthetic Rubber (Excluding Latex) in Benelux

In value terms, synthetic rubber (excluding latex) production rose sharply to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 15%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Synthetic Rubber (Excluding Latex)

Exports in Benelux

In 2021, the amount of synthetic rubber (excluding latex) exported in Benelux skyrocketed to X tons, picking up by 16% against the year before. Overall, exports showed a moderate expansion. The most prominent rate of growth was recorded in 2020 with an increase of 69% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, synthetic rubber (excluding latex) exports soared to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 60%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium was the major exporting country with an export of about X tons, which recorded 69% of total exports. It was distantly followed by the Netherlands (X tons), generating a 31% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to synthetic rubber (excluding latex) exports from Belgium stood at +2.0%. At the same time, the Netherlands (+12.6%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in Benelux, with a CAGR of +12.6% from 2012-2021. From 2012 to 2021, the share of the Netherlands increased by +16 percentage points.

In value terms, Belgium ($X) remains the largest synthetic rubber (excluding latex) supplier in Benelux, comprising 67% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 33% share of total exports.

In Belgium, synthetic rubber (excluding latex) exports plunged by an average annual rate of -2.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Benelux amounted to $X per ton, increasing by 20% against the previous year. In general, the export price, however, recorded a pronounced decrease. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Belgium amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-2.0%).

Imports of Synthetic Rubber (Excluding Latex)

Imports in Benelux

In 2021, imports of synthetic rubber (excluding latex) in Benelux skyrocketed to X tons, growing by 15% compared with the previous year. Total imports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +73.4% against 2015 indices. The growth pace was the most rapid in 2020 when imports increased by 23%. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic rubber (excluding latex) imports surged to $X in 2021. In general, imports, however, recorded a perceptible decline. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Belgium represented the main importing country with an import of about X tons, which resulted at 69% of total imports. It was distantly followed by the Netherlands (X tons) and Luxembourg (X tons), together comprising a 31% share of total imports.

Imports into Belgium increased at an average annual rate of +1.8% from 2012 to 2021. At the same time, the Netherlands (+1.8%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in Benelux, with a CAGR of +1.8% from 2012-2021. By contrast, Luxembourg (-4.2%) illustrated a downward trend over the same period. While the share of Belgium (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Luxembourg (-4.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) constitutes the largest market for imported synthetic rubber (excluding latex) in Benelux, comprising 68% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 27% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Belgium stood at -1.6%. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (-1.1% per year) and Luxembourg (-10.8% per year).

Import Prices by Country

In 2021, the import price in Benelux amounted to $X per ton, picking up by 19% against the previous year. Overall, the import price, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2017 an increase of 20% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform