Report Update Nov 1, 2024

Ghana - Synthetic Rubber - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Ghana

The Ghanian synthetic rubber market declined dramatically to $X in 2021, shrinking by -18.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a significant expansion. As a result, consumption attained the peak level of $X, and then declined remarkably in the following year.

Synthetic Rubber Exports

Exports from Ghana

In 2019, the amount of synthetic rubber exported from Ghana surged to X tons, rising by 59,336% on the year before. Over the period under review, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic rubber exports soared to $X in 2019. Overall, exports, however, saw a abrupt curtailment. The exports peaked at $X in 2012; however, from 2013 to 2019, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons), Burkina Faso (X tons) and Benin (X tons) were the main destinations of synthetic rubber exports from Ghana, together comprising 75% of total exports. Moreover, synthetic rubber exports in Canada exceeded the figures recorded by the second-largest exporter, Burkina Faso, sixfold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +302.6%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for synthetic rubber exported from Ghana were Canada ($X), Burkina Faso ($X) and Benin ($X), with a combined 75% share of total exports. Moreover, synthetic rubber exports in Canada exceeded the figures recorded by the second-largest exporter, Burkina Faso, sixfold.

In terms of the main countries of destination, Canada, with a CAGR of +316.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average synthetic rubber export price stood at less than $X per ton in 2021, approximately mirroring the previous year. Overall, the export price saw a sharp reduction. The most prominent rate of growth was recorded in 2018 an increase of 3,175% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Angola (+76.7%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Rubber Imports

Imports into Ghana

In 2021, purchases abroad of synthetic rubber decreased by -18.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 301%. As a result, imports attained the peak of X tons, and then fell notably in the following year.

In value terms, synthetic rubber imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2020 with an increase of 505%. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

Germany (X tons), China (X tons) and Spain (X tons) were the main suppliers of synthetic rubber imports to Ghana, with a combined 78% share of total imports. Japan, Turkey, the United Arab Emirates, Belgium, the Netherlands and India lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +101.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Germany ($X) and China ($X) appeared to be the largest synthetic rubber suppliers to Ghana, together comprising 42% of total imports.

In terms of the main suppliers, Japan, with a CAGR of +82.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average synthetic rubber import price stood at $X per ton in 2021, surging by 46% against the previous year. In general, the import price, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 when the average import price increased by 192% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for synthetic rubber in the world?

China remains the largest synthetic rubber consuming country worldwide, accounting for 31% of total volume. Moreover, synthetic rubber consumption in China exceeded the figures recorded by the second-largest consumer, the U.S., threefold. The third position in this ranking was occupied by Japan, with a 5.3% share.

What are the largest producers of synthetic rubber in the world?

The countries with the highest volumes of synthetic rubber production in 2020 were the U.S., China and South Korea, together accounting for 35% of global production. These countries were followed by Japan, Russia, Thailand, Vietnam, Germany, Indonesia, Taiwan Chinese), Mexico, France and Italy, which together accounted for a further 43%.

What are the leading suppliers of synthetic rubber to Ghana?

In value terms, the largest synthetic rubber suppliers to Ghana were Germany, the United Arab Emirates and the Netherlands, with a combined 39% share of total imports. These countries were followed by France, China, Spain, Turkey and Malaysia, which together accounted for a further 19%.

What are the leading importers of synthetic rubber from Ghana?

In value terms, Burkina Faso remains the key foreign market for synthetic rubber exports from Ghana, comprising 73% of total exports. The second position in the ranking was occupied by Benin, with a 26% share of total exports.

What is the average export price for synthetic rubber in Ghana?

In 2020, the average synthetic rubber export price amounted to $1,746 per ton, with an increase of 1.8% against the previous year.

What is the average import price for synthetic rubber in Ghana?

The average synthetic rubber import price stood at $1,401 per ton in 2020, reducing by -23.6% against the previous year.

This report provides an in-depth analysis of the synthetic rubber market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20171050 - Synthetic latex rubber
Prodcom 20171090 - Synthetic rubber (excluding latex)

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023