Benelux: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Benelux

The Benelux synthetic rubber market fell markedly to $X in 2021, reducing by -20.4% against the previous year. In general, consumption recorded a deep contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Synthetic Rubber Production in Benelux

In value terms, synthetic rubber production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production saw a mild descent. The most prominent rate of growth was recorded in 2019 when the production volume increased by 36% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Synthetic Rubber Exports

Exports in Benelux

For the fourth year in a row, Benelux recorded growth in shipments abroad of synthetic rubber, which increased by 14% to X tons in 2021. In general, exports enjoyed noticeable growth. The growth pace was the most rapid in 2020 with an increase of 45%. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, synthetic rubber exports skyrocketed to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 49% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Belgium represented the main exporting country with an export of around X tons, which recorded 61% of total exports. It was distantly followed by the Netherlands (X tons), comprising a 38% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Netherlands (with a CAGR of +8.5%).

In value terms, the largest synthetic rubber supplying countries in Benelux were Belgium ($X) and the Netherlands ($X).

The Netherlands, with a CAGR of +7.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2021, growing by 23% against the previous year. In general, the export price, however, showed a perceptible decline. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-1.0%).

Synthetic Rubber Imports

Imports in Benelux

In 2021, imports of synthetic rubber in Benelux expanded sharply to X tons, picking up by 7.9% on 2020 figures. Total imports indicated a slight expansion from 2012 to 2021: its volume 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, imports increased by +58.1% against 2015 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 29% against the previous year. 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 imports soared to $X in 2021. Overall, imports, however, saw a noticeable slump. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Belgium represented the largest importing country with an import of around X tons, which amounted to 66% of total imports. It was distantly followed by the Netherlands (X tons) and Luxembourg (X tons), together mixing up a 34% share of total imports.

Belgium was also the fastest-growing in terms of the synthetic rubber imports, with a CAGR of +2.1% from 2012 to 2021. The Netherlands experienced a relatively flat trend pattern. Luxembourg (-4.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Belgium increased by +4.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) constitutes the largest market for imported synthetic rubber in Benelux, comprising 67% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 29% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Belgium amounted to -1.4%. In the other countries, the average annual rates were as follows: the Netherlands (-1.5% per year) and Luxembourg (-10.6% per year).

Import Prices by Country

In 2021, the import price in Benelux amounted to $X per ton, with an increase of 31% against the previous year. In general, the import price, however, recorded a noticeable decline. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while Luxembourg ($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 (-2.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform