Finland: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Finland

In 2021, after two years of decline, there was significant growth in the Finnish synthetic rubber (excluding latex) market, when its value increased by 25% to $X. In general, consumption, however, continues to indicate a deep contraction. Synthetic rubber (excluding latex) consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Synthetic Rubber (Excluding Latex) in Finland

In value terms, synthetic rubber (excluding latex) production reduced to $X in 2021 estimated in export price. Overall, production, however, recorded a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 609% against the previous year. Synthetic rubber (excluding latex) production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Synthetic Rubber (Excluding Latex)

Exports from Finland

In 2021, approx. X tons of synthetic rubber (excluding latex) were exported from Finland; with an increase of 58% compared with the year before. In general, exports posted a buoyant expansion. The growth pace was the most rapid in 2019 with an increase of 179%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, synthetic rubber (excluding latex) exports soared to $X in 2021. Over the period under review, exports saw strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 170% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Russia (X tons) was the main destination for synthetic rubber (excluding latex) exports from Finland, accounting for a 54% share of total exports. Moreover, synthetic rubber (excluding latex) exports to Russia exceeded the volume sent to the second major destination, Sweden (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia totaled +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+70.5% per year) and Germany (+89.1% per year).

In value terms, Russia ($X) remains the key foreign market for synthetic rubber (excluding latex) exports from Finland, comprising 54% of total exports. The second position in the ranking was taken by Sweden ($X), with a 20% share of total exports. It was followed by Germany, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+39.7% per year) and Germany (+55.8% per year).

Export Prices by Country

In 2021, the average synthetic rubber (excluding latex) export price amounted to $X per ton, picking up by 13% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2017 an increase of 18%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (-2.2%), while the prices for the other major destinations experienced a decline.

Imports of Synthetic Rubber (Excluding Latex)

Imports into Finland

Synthetic rubber (excluding latex) imports into Finland skyrocketed to X tons in 2021, jumping by 20% against the previous year. Overall, imports, however, recorded a slight slump. The growth pace was the most rapid in 2017 with an increase of 33% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, synthetic rubber (excluding latex) imports soared to $X in 2021. Over the period under review, imports, however, showed a drastic downturn. The growth pace was the most rapid in 2017 when imports increased by 74% against the previous year. 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, Russia (X tons) constituted the largest synthetic rubber (excluding latex) supplier to Finland, with a 35% share of total imports. Moreover, synthetic rubber (excluding latex) imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by Poland (X tons), with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume from Russia stood at +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.0% per year) and Poland (+4.2% per year).

In value terms, the largest synthetic rubber (excluding latex) suppliers to Finland were Russia ($X), Germany ($X) and Italy ($X), together comprising 52% of total imports. Japan, Spain, Belgium, Poland, South Korea, Sweden, the Czech Republic, France, the United States and the UK lagged somewhat behind, together comprising a further 41%.

Japan, with a CAGR of +10.2%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average synthetic rubber (excluding latex) import price stood at $X per ton in 2021, increasing by 20% against the previous year. Over the period under review, the import price, however, showed a noticeable slump. The pace of growth appeared the most rapid in 2017 an increase of 31% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform