Eastern Asia: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Eastern Asia

The East Asian unvulcanized rubber market contracted to $X in 2022, dropping by -1.7% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Unvulcanized Rubber Production in Eastern Asia

In value terms, unvulcanized rubber production reached $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 86% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Unvulcanized Rubber Exports

Exports in Eastern Asia

In 2022, shipments abroad of unvulcanized rubber and articles thereof increased by 7.2% to X tons, rising for the sixth year in a row after two years of decline. The total export volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 12% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, unvulcanized rubber exports soared to $X in 2022. Total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.9% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the largest exporter of unvulcanized rubber and articles thereof in Eastern Asia, with the volume of exports reaching X tons, which was near 69% of total exports in 2022. Japan (X tons) ranks second in terms of the total exports with a 13% share, followed by South Korea (12%) and Taiwan (Chinese) (5.5%).

China was also the fastest-growing in terms of the unvulcanized rubber and articles thereof exports, with a CAGR of +3.7% from 2012 to 2022. At the same time, Japan (+1.6%) and South Korea (+1.3%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (-4.7%) illustrated a downward trend over the same period. China (+11 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) saw its share reduced by -5.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest unvulcanized rubber supplier in Eastern Asia, comprising 58% of total exports. The second position in the ranking was taken by Japan ($X), with a 22% share of total exports. It was followed by South Korea, with a 13% share.

In China, unvulcanized rubber exports expanded at an average annual rate of +9.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+0.5% per year) and South Korea (+3.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, picking up by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.7%), while the other leaders experienced more modest paces of growth.

Unvulcanized Rubber Imports

Imports in Eastern Asia

In 2022, imports of unvulcanized rubber and articles thereof in Eastern Asia contracted to X tons, declining by -10.8% on the previous year's figure. In general, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 13%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, unvulcanized rubber imports declined to $X in 2022. Over the period under review, imports faced a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 26%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the largest importer of unvulcanized rubber and articles thereof, making up 69% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 13% share, followed by Japan (7.9%) and Taiwan (Chinese) (7.5%). Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to unvulcanized rubber imports into China stood at -18.3%. At the same time, South Korea (+1.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +1.4% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Japan (-4.3%) and Hong Kong SAR (-12.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea, Taiwan (Chinese) and Japan increased by +11, +6.1 and +5.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported unvulcanized rubber and articles thereof in Eastern Asia, comprising 74% of total imports. The second position in the ranking was taken by South Korea ($X), with a 9.3% share of total imports. It was followed by Japan, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled -15.8%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-0.2% per year) and Japan (-5.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, surging by 3.1% against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, unvulcanized rubber import price increased by +16.7% against 2017 indices. The growth pace was the most rapid in 2016 an increase of 63% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :