Finland: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Finland

The Finnish synthetic rubber market surged to $X in 2021, with an increase of 23% against the previous year. Over the period under review, consumption, however, saw a perceptible slump. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Synthetic Rubber Production in Finland

In value terms, synthetic rubber production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a mild decline. Synthetic rubber production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Synthetic Rubber Exports

Exports from Finland

In 2021, approx. X tons of synthetic rubber were exported from Finland; growing by 37% against the previous year. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 54% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, synthetic rubber exports surged to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden (X tons), Russia (X tons) and Germany (X tons) were the main destinations of synthetic rubber exports from Finland, together accounting for 81% of total exports. Belarus, Estonia and Belgium lagged somewhat behind, together comprising a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +205.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic rubber exported from Finland were Russia ($X), Germany ($X) and Sweden ($X), together comprising 79% of total exports. These countries were followed by Belarus, Belgium and Estonia, which together accounted for a further 13%.

In terms of the main countries of destination, Belgium, with a CAGR of +126.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average synthetic rubber export price amounted to $X per ton, surging by 47% against the previous year. In general, the export price, however, showed a mild shrinkage. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Estonia ($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 Germany (+8.3%), while the prices for the other major destinations experienced a decline.

Synthetic Rubber Imports

Imports into Finland

In 2021, supplies from abroad of synthetic rubber increased by 23% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, showed a slight curtailment. The growth pace was the most rapid in 2017 with an increase of 35% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, synthetic rubber imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 71% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Russia (X tons), Germany (X tons) and Sweden (X tons) were the main suppliers of synthetic rubber imports to Finland, together accounting for 58% of total imports.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +9.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber suppliers to Finland were Russia ($X), Germany ($X) and Sweden ($X), together accounting for 52% of total imports.

Sweden, with a CAGR of +1.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average synthetic rubber import price amounted to $X per ton, rising by 18% against the previous year. In general, the import price, however, saw a pronounced decline. The pace of growth appeared the most rapid in 2017 when the average import price increased by 27% against the previous year. Over the period under review, average import prices hit record highs 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 Italy ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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