Eastern Asia: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Eastern Asia

In 2021, the East Asian reclaimed rubber market decreased by -6.4% to $X for the first time since 2015, thus ending a five-year rising trend. The total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +39.8% against 2015 indices. The level of consumption peaked at $X in 2020, and then reduced in the following year.

Reclaimed Rubber Production in Eastern Asia

In value terms, reclaimed rubber production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 14% against the previous year. As a result, production reached the peak level of $X, and then reduced in the following year.

Reclaimed Rubber Exports

Exports in Eastern Asia

In 2021, shipments abroad of reclaimed rubber was finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 31% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, reclaimed rubber exports surged to $X in 2021. The total export value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, finishing at X tons, which was approx. 93% of total exports in 2021. South Korea (X tons) and Taiwan (Chinese) (X tons) held a relatively small share of total exports.

China was also the fastest-growing in terms of the reclaimed rubber exports, with a CAGR of +4.8% from 2012 to 2021. At the same time, Taiwan (Chinese) (+1.2%) displayed positive paces of growth. By contrast, South Korea (-2.0%) illustrated a downward trend over the same period. China (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by -2.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest reclaimed rubber supplier in Eastern Asia, comprising 94% of total exports. The second position in the ranking was taken by South Korea ($X), with a 3.8% share of total exports.

In China, reclaimed rubber exports increased at an average annual rate of +3.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-3.4% per year) and Taiwan (Chinese) (-9.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, surging by 7% against the previous year. Over the period under review, the export price, however, saw a noticeable decrease. 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 South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-1.4%), while the other leaders experienced a decline in the export price figures.

Reclaimed Rubber Imports

Imports in Eastern Asia

In 2021, imports of reclaimed rubber in Eastern Asia surged to X tons, rising by 17% on the previous year. Over the period under review, imports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2017 when imports increased by 54% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, reclaimed rubber imports surged to $X in 2021. Overall, imports recorded prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 36% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China was the key importer of reclaimed rubber in Eastern Asia, with the volume of imports resulting at X tons, which was approx. 80% of total imports in 2021. It was distantly followed by South Korea (X tons) and Japan (X tons), together constituting a 17% share of total imports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the reclaimed rubber imports, with a CAGR of +19.4% from 2012 to 2021. At the same time, South Korea (+7.9%) and Taiwan (Chinese) (+7.1%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. China (+26 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese), South Korea and Japan saw its share reduced by -2.1%, -8.5% and -11.9% from 2012 to 2021, respectively.

In value terms, China ($X) constitutes the largest market for imported reclaimed rubber in Eastern Asia, comprising 74% of total imports. The second position in the ranking was held by South Korea ($X), with a 17% share of total imports. It was followed by Japan, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +12.8%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+5.8% per year) and Japan (-0.4% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, with an increase of 1.8% against the previous year. Overall, the import price, however, saw a perceptible shrinkage. The pace of growth was the most pronounced in 2019 when the import price increased by 4.7%. The level of import 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 importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($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 (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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