China: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in China

In 2021, the Chinese market for isoprene rubber (IR) in primary forms increased by 11% to $X, rising for the second consecutive year after two years of decline. In general, consumption recorded a perceptible downturn. Consumption of peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports from China

In 2021, shipments abroad of isoprene rubber (IR) in primary forms was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 79% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of isoprene rubber (IR) in primary forms surged to $X in 2021. In general, total exports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +28.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 55%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons), Indonesia (X tons) and Malaysia (X tons) were the main destinations of exports of isoprene rubber (IR) in primary forms from China, together accounting for 71% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +95.1%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Vietnam ($X) and Indonesia ($X) were the largest markets for isoprene rubber (IR) in primary form exported from China worldwide, together accounting for 72% of total exports.

Among the main countries of destination, Indonesia, with a CAGR of +84.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for isoprene rubber (IR) in primary forms amounted to $X per ton, increasing by 14% against the previous year. In general, the export price, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2017 an increase of 17% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+3.6%), while the prices for the other major destinations experienced a decline.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports into China

In 2021, the amount of isoprene rubber (IR) in primary forms imported into China fell to X tons, declining by -12.3% on 2020. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 44%. Over the period under review, imports of reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of isoprene rubber (IR) in primary forms skyrocketed to $X in 2021. In general, imports recorded a noticeable slump. Over the period under review, imports of hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Russia (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of imports of isoprene rubber (IR) in primary forms to China, with a combined 94% share of total imports. These countries were followed by Thailand, the United States and France, which together accounted for a further 3.7%.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +24.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Russia ($X) and Taiwan (Chinese) ($X) constituted the largest isoprene rubber (IR) in primary form suppliers to China, together comprising 93% of total imports. These countries were followed by the United States, Thailand and France, which together accounted for a further 5.3%.

Thailand, with a CAGR of +24.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 import price for isoprene rubber (IR) in primary forms amounted to $X per ton, growing by 47% against the previous year. In general, the import price, however, saw a pronounced reduction. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform