China: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in China

The Chinese unvulcanised rubber market rose remarkably to $X in 2021, surging by 8.9% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Unvulcanised Rubber Production in China

In value terms, unvulcanised rubber production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 25% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Unvulcanised Rubber Exports

Exports from China

In 2021, shipments abroad of unvulcanised rubber increased by 70% to X tons, rising for the fourth year in a row after two years of decline. Overall, exports saw a buoyant increase. The pace of growth was the most pronounced in 2015 when exports increased by 84% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, unvulcanised rubber exports skyrocketed to $X in 2021. In general, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons) was the main destination for unvulcanised rubber exports from China, with a 43% share of total exports. Moreover, unvulcanised rubber exports to Vietnam exceeded the volume sent to the second major destination, Thailand (X tons), twofold. The third position in this ranking was held by Australia (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam totaled +32.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+59.1% per year) and Australia (+59.7% per year).

In value terms, Vietnam ($X) emerged as the key foreign market for unvulcanised rubber exports from China, comprising 48% of total exports. The second position in the ranking was held by Thailand ($X), with a 15% share of total exports. It was followed by Australia, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam totaled +37.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+54.3% per year) and Australia (+37.9% per year).

Export Prices by Country

The average unvulcanised rubber export price stood at $X per ton in 2021, increasing by 15% against the previous year. Over the period under review, the export price, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2017 an increase of 15% against the previous year. 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 failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to the Czech Republic ($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 Indonesia (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanised Rubber Imports

Imports into China

In 2021, overseas purchases of unvulcanised rubber increased by 17% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, saw a deep downturn. The pace of growth was the most pronounced in 2014 with an increase of 22%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, unvulcanised rubber imports surged to $X in 2021. Overall, imports, however, continue to indicate a deep downturn. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Thailand (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of unvulcanised rubber imports to China, with a combined 45% share of total imports. South Korea, Indonesia, Germany, the Netherlands, Italy, Malaysia and the United States lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +47.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Japan ($X) and South Korea ($X) were the largest unvulcanised rubber suppliers to China, with a combined 48% share of total imports. These countries were followed by Thailand, Germany, Indonesia, the United States, Malaysia, Italy and the Netherlands, which together accounted for a further 37%.

In terms of the main suppliers, Indonesia, with a CAGR of +35.5%, recorded 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

In 2021, the average unvulcanised rubber import price amounted to $X per ton, increasing by 5.5% against the previous year. Overall, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unvulcanised rubber import price increased by +79.7% against 2015 indices. The most prominent rate of growth was recorded in 2016 an increase of 20% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Netherlands ($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 United States (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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