China: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in China

The Chinese synthetic latex rubber market contracted remarkably to $X in 2021, which is down by -16.2% against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then reduced notably in the following year.

Synthetic Latex Rubber Production in China

In value terms, synthetic latex rubber production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 36% against the previous year. As a result, production reached the peak level of $X, and then dropped in the following year.

Synthetic Latex Rubber Exports

Exports from China

In 2021, shipments abroad of synthetic latex rubber increased by 150% to X tons, rising for the seventh consecutive year after two years of decline. Over the period under review, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic latex rubber exports surged to $X in 2021. Overall, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X tons) was the main destination for synthetic latex rubber exports from China, accounting for a 75% share of total exports. Moreover, synthetic latex rubber exports to Malaysia exceeded the volume sent to the second major destination, Vietnam (X tons), ninefold. The third position in this ranking was held by Thailand (X tons), with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled +69.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+94.4% per year) and Thailand (+13.7% per year).

In value terms, Malaysia ($X) remains the key foreign market for synthetic latex rubber exports from China, comprising 66% of total exports. The second position in the ranking was held by Vietnam ($X), with a 9.5% share of total exports. It was followed by Thailand, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia stood at +63.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+88.0% per year) and Thailand (+19.7% per year).

Export Prices by Country

In 2021, the average synthetic latex rubber export price amounted to $X per ton, growing by 5.5% against the previous year. Over the period under review, the export price, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2020 an increase of 7.2%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Malaysia ($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 Taiwan (Chinese) (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Latex Rubber Imports

Imports into China

For the third year in a row, China recorded growth in overseas purchases of synthetic latex rubber, which increased by 33% to X tons in 2021. Over the period under review, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of 46%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, synthetic latex rubber imports surged to $X in 2021. Overall, imports posted a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of synthetic latex rubber to China, accounting for a 50% share of total imports. Moreover, synthetic latex rubber imports from South Korea exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Japan (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea amounted to +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.4% per year) and Japan (+5.1% per year).

In value terms, the largest synthetic latex rubber suppliers to China were South Korea ($X), Japan ($X) and Malaysia ($X), with a combined 81% share of total imports. Germany, the United States, Poland and Indonesia lagged somewhat behind, together comprising a further 14%.

Among the main suppliers, Poland, with a CAGR of +84.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average synthetic latex rubber import price stood at $X per ton in 2021, jumping by 51% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Indonesia ($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 (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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