Czech Republic: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in the Czech Republic

In 2021, the Czech synthetic rubber (excluding latex) market increased by 41% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption continues to indicate a notable expansion. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Synthetic Rubber (Excluding Latex) in the Czech Republic

In value terms, synthetic rubber (excluding latex) production surged to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 174% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Exports of Synthetic Rubber (Excluding Latex)

Exports from the Czech Republic

In 2021, exports of synthetic rubber (excluding latex) from the Czech Republic rose sharply to X tons, surging by 8.8% on the year before. Overall, total exports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +4.4% 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 +52.2% against 2015 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 13%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, synthetic rubber (excluding latex) exports soared to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X tons), India (X tons) and South Korea (X tons) were the main destinations of synthetic rubber (excluding latex) exports from the Czech Republic, with a combined 32% share 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 South Korea (with a CAGR of +191.6%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), South Korea ($X) and the United States ($X) were the largest markets for synthetic rubber (excluding latex) exported from the Czech Republic worldwide, together comprising 29% of total exports.

South Korea, with a CAGR of +158.8%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average synthetic rubber (excluding latex) export price stood at $X per ton in 2021, surging by 48% against the previous year. Over the period under review, the export price, however, showed a pronounced contraction. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to India ($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 Luxembourg (-0.8%), while the prices for the other major destinations experienced a decline.

Imports of Synthetic Rubber (Excluding Latex)

Imports into the Czech Republic

In 2021, overseas purchases of synthetic rubber (excluding latex) were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, synthetic rubber (excluding latex) imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Russia (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of synthetic rubber (excluding latex) imports to the Czech Republic, together accounting for 57% of total imports. Poland, Belgium, South Korea, Malaysia, France, Italy, Austria, Japan, Singapore and Slovakia lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +235.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber (excluding latex) suppliers to the Czech Republic were Germany ($X), Russia ($X) and the Netherlands ($X), together accounting for 56% of total imports. These countries were followed by Poland, Belgium, South Korea, France, Italy, Malaysia, Japan, Singapore, Austria and Slovakia, which together accounted for a further 38%.

Malaysia, with a CAGR of +194.1%, saw the highest growth rate of the value of imports, among 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 synthetic rubber (excluding latex) import price amounted to $X per ton, rising by 33% against the previous year. Overall, the import price, however, continues to indicate a perceptible downturn. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 France ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform