Europe: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Europe

In 2021, the Europe synthetic rubber (excluding latex) market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, recorded a perceptible slump. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Synthetic Rubber (Excluding Latex) in Europe

In value terms, synthetic rubber (excluding latex) production surged to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by 24%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Synthetic Rubber (Excluding Latex)

Exports in Europe

Synthetic rubber (excluding latex) exports expanded sharply to X tons in 2021, picking up by 14% on the previous year. The total export volume increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue 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, saw a perceptible contraction. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia represented the key exporting country with an export of around X tons, which finished at 32% of total exports. Belgium (X tons) held the second position in the ranking, followed by Germany (X tons), France (X tons), Poland (X tons), the Netherlands (X tons) and the Czech Republic (X tons). All these countries together took near 57% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to synthetic rubber (excluding latex) exports from Russia stood at +2.6%. At the same time, the Netherlands (+12.6%), Poland (+4.8%), the Czech Republic (+4.4%), Belgium (+2.0%), France (+1.8%) and Germany (+1.0%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in Europe, with a CAGR of +12.6% from 2012-2021. While the share of the Netherlands (+3.5 p.p.) and Poland (+1.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), Belgium ($X) and Germany ($X) constituted the countries with the highest levels of exports in 2021, together comprising 56% of total exports. These countries were followed by France, the Netherlands, Poland and the Czech Republic, which together accounted for a further 32%.

In terms of the main exporting countries, the Netherlands, with a CAGR of +10.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Europe stood at $X per ton in 2021, with an increase of 33% against the previous year. In general, the export price, however, continues to indicate a perceptible reduction. 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.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-2.0%), while the other leaders experienced a decline in the export price figures.

Imports of Synthetic Rubber (Excluding Latex)

Imports in Europe

After two years of decline, overseas purchases of synthetic rubber (excluding latex) increased by 16% to X tons in 2021. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. 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 surged to $X in 2021. In general, imports, however, recorded a pronounced decline. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons), Belgium (X tons), Poland (X tons), Italy (X tons), France (X tons), Spain (X tons), the Netherlands (X tons), Hungary (X tons), the Czech Republic (X tons), Romania (X tons), Slovakia (X tons) and the UK (X tons) represented the key importer of synthetic rubber (excluding latex) in Europe, making up 84% of total import.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +6.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and Poland ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 40% of total imports. Italy, France, Spain, the Netherlands, the Czech Republic, Hungary, Romania, the UK and Slovakia lagged somewhat behind, together comprising a further 45%.

Among the main importing countries, Romania, with a CAGR of +1.4%, saw the highest growth rate of 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

The import price in Europe stood at $X per ton in 2021, jumping by 24% against the previous year. In general, the import price, however, saw a perceptible decline. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the UK ($X per ton) and the Netherlands ($X per ton), while Slovakia ($X per ton) and Poland ($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 Netherlands (-2.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform