Czech Republic: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in the Czech Republic

In 2021, the Czech synthetic rubber market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Synthetic Rubber Production in the Czech Republic

In value terms, synthetic rubber production skyrocketed to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Synthetic Rubber Exports

Exports from the Czech Republic

Synthetic rubber exports from the Czech Republic expanded rapidly to X tons in 2021, increasing by 8.8% compared with the year before. Over the period under review, total exports indicated a temperate expansion 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 +51.9% against 2015 indices. The most prominent rate of growth was recorded in 2019 with an increase of 13% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, synthetic rubber exports skyrocketed to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Poland (X tons), India (X tons) and South Korea (X tons) were the main destinations of synthetic rubber exports from the Czech Republic, together accounting for 32% 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) constituted the largest markets for synthetic rubber exported from the Czech Republic worldwide, together accounting for 29% of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of +158.8%, saw the highest rates of growth with regard to 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 synthetic rubber export price amounted to $X per ton, jumping by 48% against the previous year. Overall, the export price, however, showed a perceptible contraction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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.

Synthetic Rubber Imports

Imports into the Czech Republic

In 2021, overseas purchases of synthetic rubber were finally on the rise to reach X tons after two years of decline. 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 imports surged to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Russia (X tons) and the Netherlands (X tons) were the main suppliers of synthetic rubber imports to the Czech Republic, with a combined 60% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +15.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber suppliers to the Czech Republic were Germany ($X), Russia ($X) and the Netherlands ($X), with a combined 57% share of total imports.

The Netherlands, with a CAGR of +10.0%, recorded 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 synthetic rubber import price amounted to $X per ton, with an increase of 34% against the previous year. In general, the import price, however, recorded a perceptible downturn. The import price peaked 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 Belgium ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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