Central Asia: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Central Asia

The Central Asian synthetic rubber (excluding latex) market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption saw a pronounced decrease. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Production of Synthetic Rubber (Excluding Latex) in Central Asia

In value terms, synthetic rubber (excluding latex) production rose remarkably to $X in 2021 estimated in export price. In general, production, however, recorded a deep slump. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Synthetic Rubber (Excluding Latex)

Exports in Central Asia

In 2021, approx. X tons of synthetic rubber (excluding latex) were exported in Central Asia; approximately reflecting the previous year. In general, exports showed a tangible increase. The growth pace was the most rapid in 2014 with an increase of 290%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, synthetic rubber (excluding latex) exports skyrocketed to $X in 2021. Over the period under review, exports recorded notable growth. The growth pace was the most rapid in 2019 when exports increased by 180% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Kazakhstan dominates exports structure, resulting at X tons, which was near 87% of total exports in 2021. It was distantly followed by Uzbekistan (X tons), making up a 9.6% share of total exports. Kyrgyzstan (X tons) took a minor share of total exports.

Exports from Kazakhstan increased at an average annual rate of +8.3% from 2012 to 2021. At the same time, Uzbekistan (+51.1%) and Kyrgyzstan (+14.2%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +51.1% from 2012-2021. From 2012 to 2021, the share of Kazakhstan, Uzbekistan and Kyrgyzstan increased by +28, +9.6 and +2.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) remains the largest synthetic rubber (excluding latex) supplier in Central Asia, comprising 79% of total exports. The second position in the ranking was held by Uzbekistan ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan stood at +4.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Uzbekistan (+62.7% per year) and Kyrgyzstan (+3.4% per year).

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, jumping by 32% against the previous year. In general, the export price, however, saw a mild descent. The pace of growth was the most pronounced in 2016 when the export price increased by 86%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+7.7%), while the other leaders experienced a decline in the export price figures.

Imports of Synthetic Rubber (Excluding Latex)

Imports in Central Asia

In 2021, imports of synthetic rubber (excluding latex) in Central Asia reduced dramatically to X tons, shrinking by -15.6% on 2020 figures. Overall, imports, however, posted a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 509%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic rubber (excluding latex) imports soared to $X in 2021. Over the period under review, imports, however, saw a noticeable expansion. The most prominent rate of growth was recorded in 2017 with an increase of 504% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Uzbekistan (X tons) represented the key importer of synthetic rubber (excluding latex), mixing up 69% of total imports. Kazakhstan (X tons) ranks second in terms of the total imports with a 21% share, followed by Tajikistan (5.3%). Turkmenistan (X tons) and Mongolia (X tons) held a little share of total imports.

Uzbekistan experienced a relatively flat trend pattern with regard to volume of imports of synthetic rubber (excluding latex). At the same time, Tajikistan (+20.7%) and Mongolia (+15.5%) displayed positive paces of growth. Moreover, Tajikistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +20.7% from 2012-2021. By contrast, Kazakhstan (-8.5%) and Turkmenistan (-9.2%) illustrated a downward trend over the same period. While the share of Uzbekistan (+69 p.p.) and Tajikistan (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Turkmenistan (-10.2 p.p.) and Kazakhstan (-63 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Uzbekistan ($X) constitutes the largest market for imported synthetic rubber (excluding latex) in Central Asia, comprising 69% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 23% share of total imports. It was followed by Turkmenistan, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Uzbekistan amounted to +5.5%. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (-10.4% per year) and Turkmenistan (+2.7% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2021, growing by 49% against the previous year. In general, the import price, however, recorded a mild reduction. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Turkmenistan ($X per ton), while Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkmenistan (+13.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform