Eastern Europe: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in Eastern Europe

After three years of growth, the East European market for isoprene rubber (IR) in primary forms decreased by -18.6% to $X in 2021. Overall, consumption saw a noticeable decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Isoprene Rubber (IR) in Primary Forms in Eastern Europe

In value terms, production of isoprene rubber (IR) in primary forms stood at $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt descent. The pace of growth was the most pronounced in 2017 when the production volume increased by 4.6% against the previous year. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports in Eastern Europe

In 2021, after three years of decline, there was significant growth in overseas shipments of isoprene rubber (IR) in primary forms, when their volume increased by 24% to X tons. Overall, exports saw a relatively flat trend pattern. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, exports of isoprene rubber (IR) in primary forms surged to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Russia dominates forms structure, resulting at X tons, which was approx. 90% of total exports in 2021. It was distantly followed by Poland (X tons), committing a 6.7% share of total exports. Hungary (X tons) took a relatively small share of total exports.

Russia experienced a relatively flat trend pattern with regard to volume of exports of isoprene rubber (IR) in primary forms. At the same time, Hungary (+1.8%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +1.8% from 2012-2021. By contrast, Poland (-1.9%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest isoprene rubber (IR) in primary form supplier in Eastern Europe, comprising 89% of total exports. The second position in the ranking was taken by Poland ($X), with a 6.7% share of total exports.

In Russia, exports of isoprene rubber (IR) in primary forms plunged by an average annual rate of -6.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Poland (-9.4% per year) and Hungary (-5.6% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, rising by 21% against the previous year. Overall, the export price, however, showed a abrupt setback. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Hungary ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-6.9%), while the other leaders experienced a decline in the export price figures.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports in Eastern Europe

In 2021, overseas purchases of isoprene rubber (IR) in primary forms were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, saw a relatively flat trend pattern. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, imports of isoprene rubber (IR) in primary forms skyrocketed to $X in 2021. In general, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2017 when imports increased by 36% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Poland was the key importing country with an import of about X tons, which accounted for 32% of total imports. Romania (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Belarus (13%), Hungary (11%), Ukraine (10%), Slovakia (8.3%) and the Czech Republic (7.4%).

From 2012 to 2021, average annual rates of growth with regard to isoprene rubber (IR) in primary form imports into Poland stood at -1.1%. At the same time, Romania (+10.0%), Slovakia (+6.1%), Hungary (+2.5%) and Ukraine (+1.5%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +10.0% from 2012-2021. By contrast, the Czech Republic (-4.3%) and Belarus (-6.7%) illustrated a downward trend over the same period. Romania (+8.7 p.p.), Slovakia (+3.4 p.p.) and Hungary (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Poland, the Czech Republic and Belarus saw its share reduced by -3.1%, -3.6% and -11% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X), Romania ($X) and Belarus ($X) constituted the countries with the highest levels of imports in 2021, with a combined 60% share of total imports.

Among the main importing countries, Romania, with a CAGR of +2.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, with an increase of 18% against the previous year. Overall, the import price, however, saw a deep reduction. The pace of growth appeared the most rapid in 2017 when the import price increased by 28% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Romania ($X per ton) and Ukraine ($X per ton), while the Czech Republic ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (-5.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform