Eastern Europe: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in Eastern Europe

For the third year in a row, the East European synthetic latex rubber market recorded growth in sales value, which increased by 2.4% to $X in 2021. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in the near future.

Synthetic Latex Rubber Production in Eastern Europe

In value terms, synthetic latex rubber production declined to $X in 2021 estimated in export price. The total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.3% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 61% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Synthetic Latex Rubber Exports

Exports in Eastern Europe

In 2021, shipments abroad of synthetic latex rubber increased by 16% to X tons, rising for the second year in a row after two years of decline. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +31.2% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 50%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, synthetic latex rubber exports surged to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 66% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Poland dominates exports structure, finishing at X tons, which was approx. 87% of total exports in 2021. Russia (X tons), Estonia (X tons) and Hungary (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to synthetic latex rubber exports from Poland stood at +8.3%. At the same time, Estonia (+8.5%) displayed positive paces of growth. Moreover, Estonia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +8.5% from 2012-2021. By contrast, Russia (-6.2%) and Hungary (-10.4%) illustrated a downward trend over the same period. Poland (+19 p.p.) significantly strengthened its position in terms of the total exports, while Russia and Hungary saw its share reduced by -7% and -9.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest synthetic latex rubber supplier in Eastern Europe, comprising 82% of total exports. The second position in the ranking was taken by Russia ($X), with a 5.7% share of total exports. It was followed by Hungary, with a 4% share.

From 2012 to 2021, the average annual growth rate of value in Poland stood at +2.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Russia (-5.6% per year) and Hungary (-8.1% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, surging by 38% against the previous year. In general, the export price, however, saw a perceptible decrease. The level of export peaked at $X per ton in 2012; however, from 2013 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 Russia ($X per ton), while Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+2.6%), while the other leaders experienced mixed trends in the export price figures.

Synthetic Latex Rubber Imports

Imports in Eastern Europe

After two years of decline, overseas purchases of synthetic latex rubber increased by 19% to X tons in 2021. The total import volume increased at an average annual rate of +4.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic latex rubber imports soared to $X in 2021. The total import value increased at an average annual rate of +1.6% from 2012 to 2021; 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.

Imports by Country

The purchases of the three major importers of synthetic latex rubber, namely the Czech Republic, Russia and Poland, represented more than two-thirds of total import. Belarus (X tons) ranks next in terms of the total imports with a 6.5% share, followed by Latvia (5.1%) and Ukraine (4.8%). Hungary (X tons) and Bulgaria (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Latvia (with a CAGR of +13.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), the Czech Republic ($X) and Poland ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 67% share of total imports. These countries were followed by Hungary, Belarus, Ukraine, Latvia and Bulgaria, which together accounted for a further 25%.

Latvia, with a CAGR of +9.5%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, picking up by 29% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced curtailment. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 Hungary ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+2.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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