Eastern Europe: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Eastern Europe

In 2021, the East European synthetic rubber (excluding latex) market increased by 20% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, recorded a slight shrinkage. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Synthetic Rubber (Excluding Latex) in Eastern Europe

In value terms, synthetic rubber (excluding latex) production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a perceptible descent. The growth pace was the most rapid in 2017 when the production volume increased by 28%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Synthetic Rubber (Excluding Latex)

Exports in Eastern Europe

In 2021, the amount of synthetic rubber (excluding latex) exported in Eastern Europe totaled X tons, picking up by 10% on 2020. The total export volume increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 10%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, synthetic rubber (excluding latex) exports surged to $X in 2021. Over the period under review, exports, however, showed a perceptible descent. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Russia (X tons) represented the main exporter of synthetic rubber (excluding latex), mixing up 65% of total exports. Poland (X tons) took the second position in the ranking, followed by the Czech Republic (X tons). All these countries together took approx. 31% share of total exports. Hungary (X tons) held a relatively small share of total exports.

Exports from Russia increased at an average annual rate of +2.6% from 2012 to 2021. At the same time, Poland (+4.8%) and the Czech Republic (+4.4%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +4.8% from 2012-2021. By contrast, Hungary (-2.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Poland increased by +2.9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest synthetic rubber (excluding latex) supplier in Eastern Europe, comprising 62% of total exports. The second position in the ranking was held by Poland ($X), with a 19% share of total exports. It was followed by the Czech Republic, with a 13% share.

In Russia, synthetic rubber (excluding latex) exports shrank by an average annual rate of -3.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Poland (+0.2% per year) and the Czech Republic (-0.2% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, growing by 39% against the previous year. In general, the export price, however, recorded a drastic downturn. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Hungary ($X per ton) and the Czech Republic ($X per ton), while Russia ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (-4.3%), while the other leaders experienced a decline in the export price figures.

Imports of Synthetic Rubber (Excluding Latex)

Imports in Eastern Europe

In 2021, approx. X tons of synthetic rubber (excluding latex) were imported in Eastern Europe; with an increase of 17% against 2020 figures. The total import volume increased at an average annual rate of +3.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic rubber (excluding latex) imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a mild downturn. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Poland was the largest importing country with an import of around X tons, which recorded 33% of total imports. It was distantly followed by Hungary (X tons), the Czech Republic (X tons), Romania (X tons), Slovakia (X tons) and Russia (X tons), together comprising a 56% share of total imports. Belarus (X tons) followed a long way behind the leaders.

Imports into Poland increased at an average annual rate of +4.6% from 2012 to 2021. At the same time, Romania (+6.6%), Slovakia (+5.6%), the Czech Republic (+3.2%) and Russia (+2.7%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +6.6% from 2012-2021. Hungary experienced a relatively flat trend pattern. By contrast, Belarus (-6.2%) illustrated a downward trend over the same period. Poland (+4.4 p.p.), Romania (+3.4 p.p.) and Slovakia (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Hungary and Belarus saw its share reduced by -4.3% and -5.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported synthetic rubber (excluding latex) in Eastern Europe, comprising 33% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 14% share of total imports. It was followed by Hungary, with a 14% share.

In Poland, synthetic rubber (excluding latex) imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Czech Republic (-0.8% per year) and Hungary (-4.5% per year).

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, growing by 27% against the previous year. Overall, the import price, however, showed a noticeable decline. 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 somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Russia ($X per ton) and the Czech Republic ($X per ton), while Belarus ($X per ton) and Slovakia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-3.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform