Eastern Europe: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Eastern Europe

In 2021, the East European synthetic rubber market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption showed a perceptible descent. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Synthetic Rubber Production in Eastern Europe

In value terms, synthetic rubber production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production showed a pronounced contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 24%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Synthetic Rubber Exports

Exports in Eastern Europe

Synthetic rubber exports stood at X tons in 2021, surging by 10% compared with the year before. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic rubber exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a perceptible reduction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Russia (X tons) was the key exporter of synthetic rubber, comprising 64% of total exports. Poland (X tons) took the second position in the ranking, distantly followed by the Czech Republic (X tons). All these countries together took near 31% share of total exports. Hungary (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to synthetic rubber exports from Russia stood at +2.6%. At the same time, Poland (+5.0%) 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 +5.0% from 2012-2021. By contrast, Hungary (-2.2%) illustrated a downward trend over the same period. While the share of Poland (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Russia (-1.9 p.p.) and Hungary (-2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest synthetic rubber supplier in Eastern Europe, comprising 62% of total exports. The second position in the ranking was taken by Poland ($X), with a 20% share of total exports. It was followed by the Czech Republic, with a 13% share.

In Russia, synthetic rubber exports plunged by an average annual rate of -3.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Poland (+0.3% 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, rising by 39% against the previous year. In general, the export price, however, saw a deep contraction. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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.

Synthetic Rubber Imports

Imports in Eastern Europe

In 2021, the amount of synthetic rubber imported in Eastern Europe soared to X tons, jumping by 17% against 2020 figures. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor 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 rubber imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a mild contraction. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Poland (X tons) represented the key importer of synthetic rubber, generating 32% of total imports. The Czech Republic (X tons) held the second position in the ranking, followed by Hungary (X tons), Romania (X tons), Russia (X tons) and Slovakia (X tons). All these countries together held approx. 57% share of total imports. Belarus (X tons) held a minor share of total imports.

Imports into Poland increased at an average annual rate of +4.9% from 2012 to 2021. At the same time, Romania (+6.8%), Slovakia (+5.4%), the Czech Republic (+3.2%) and Russia (+2.3%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +6.8% from 2012-2021. Hungary experienced a relatively flat trend pattern. By contrast, Belarus (-5.1%) illustrated a downward trend over the same period. Poland (+4.7 p.p.) and Romania (+3.2 p.p.) significantly strengthened its position in terms of the total imports, while Hungary and Belarus saw its share reduced by -4.1% and -4.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported synthetic rubber in Eastern Europe, comprising 32% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 15% share of total imports. It was followed by Hungary, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Poland was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: the Czech Republic (-0.9% per year) and Hungary (-4.3% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, surging by 26% against the previous year. Over the period under review, the import price, however, saw a perceptible reduction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Russia ($X per ton) and Hungary ($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 (-3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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