CIS: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in CIS

The CIS synthetic latex rubber market stood at $X in 2021, increasing by 2.7% against the previous year. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the immediate term.

Synthetic Latex Rubber Production in CIS

In value terms, synthetic latex rubber production reduced to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 51% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Synthetic Latex Rubber Exports

Exports in CIS

In 2021, overseas shipments of synthetic latex rubber increased by 157% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, exports, however, recorded a pronounced reduction. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic latex rubber exports surged to $X in 2021. In general, exports, however, saw a noticeable decrease. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia represented the key exporter of synthetic latex rubber in the CIS, with the volume of exports recording X tons, which was approx. 72% of total exports in 2021. It was distantly followed by Uzbekistan (X tons), comprising a 22% share of total exports. The following exporters - Belarus (X tons) and Moldova (X tons) - together made up 5% of total exports.

From 2012 to 2021, average annual rates of growth with regard to synthetic latex rubber exports from Russia stood at -6.2%. At the same time, Uzbekistan (+75.4%), Belarus (+20.8%) and Moldova (+6.7%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +75.4% from 2012-2021. Uzbekistan (+22 p.p.) and Belarus (+2.9 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -24.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest synthetic latex rubber supplier in the CIS, comprising 78% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 14% share of total exports. It was followed by Belarus, with a 4.1% share.

In Russia, synthetic latex rubber exports declined by an average annual rate of -5.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Uzbekistan (+107.9% per year) and Belarus (+13.1% per year).

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per ton, increasing by 22% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by 50%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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 Belarus ($X per ton), while Uzbekistan ($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 (+18.5%), while the other leaders experienced more modest paces of growth.

Synthetic Latex Rubber Imports

Imports in CIS

In 2021, purchases abroad of synthetic latex rubber increased by 31% to X tons, rising for the sixth consecutive year after three years of decline. Total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +74.4% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic latex rubber imports soared to $X in 2021. Total imports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia represented the key importer of synthetic latex rubber in the CIS, with the volume of imports accounting for X tons, which was near 61% of total imports in 2021. Belarus (X tons) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by Uzbekistan (12%) and Moldova (4.9%). Kazakhstan (X tons) and Tajikistan (X tons) followed a long way behind the leaders.

Imports into Russia increased at an average annual rate of +1.2% from 2012 to 2021. At the same time, Tajikistan (+35.9%), Uzbekistan (+23.1%), Moldova (+19.9%), Kazakhstan (+11.9%) and Belarus (+4.4%) displayed positive paces of growth. Moreover, Tajikistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +35.9% from 2012-2021. While the share of Uzbekistan (+12 p.p.), Moldova (+3.5 p.p.) and Tajikistan (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Russia (-18.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported synthetic latex rubber in the CIS, comprising 63% of total imports. The second position in the ranking was held by Belarus ($X), with a 15% share of total imports. It was followed by Uzbekistan, with a 12% share.

In Russia, synthetic latex rubber imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Belarus (-1.1% per year) and Uzbekistan (+29.2% per year).

Import Prices by Country

In 2021, the import price in the CIS amounted to $X per ton, picking up by 34% against the previous year. In general, the import price, however, showed a pronounced descent. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while Tajikistan ($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 (+5.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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