Greece: Market for Natural Rubber And Gums 2024

Market Size for Natural Rubber And Gums in Greece

The Greek natural rubber and gum market dropped to $X in 2022, declining by -8.3% 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). Over the period under review, consumption, however, enjoyed a prominent increase. Natural rubber and gum consumption peaked at $X in 2021, and then contracted in the following year.

Exports of Natural Rubber And Gums

Exports from Greece

For the fifth consecutive year, Greece recorded growth in shipments abroad of natural rubber and gums, which increased by 26% to X tons in 2022. Overall, exports saw noticeable growth. The pace of growth appeared the most rapid in 2019 with an increase of 3,654% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, natural rubber and gum exports surged to $X in 2022. Over the period under review, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2019 when exports increased by 9,641% against the previous year. The exports peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports by Country

Poland (X tons) was the main destination for natural rubber and gum exports from Greece, accounting for a 91% share of total exports. Moreover, natural rubber and gum exports to Poland exceeded the volume sent to the second major destination, Israel (X tons), tenfold. Bulgaria (X kg) ranked third in terms of total exports with a 0.2% share.

From 2012 to 2022, the average annual growth rate of volume to Poland totaled +152.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+104.1% per year) and Bulgaria (-31.2% per year).

In value terms, Poland ($X) remains the key foreign market for natural rubber and gums exports from Greece, comprising 90% of total exports. The second position in the ranking was held by Israel ($X), with a 9.6% share of total exports. It was followed by Bulgaria, with less than 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland amounted to +119.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+44.9% per year) and Bulgaria (-42.0% per year).

Export Prices by Country

In 2022, the average natural rubber and gum export price amounted to $X per ton, waning by -5.1% against the previous year. In general, the export price, however, recorded a slight increase. The pace of growth was the most pronounced in 2019 an increase of 159%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (-10.9%), while the prices for the other major destinations experienced a decline.

Imports of Natural Rubber And Gums

Imports into Greece

After two years of growth, supplies from abroad of natural rubber and gums decreased by -13.1% to X tons in 2022. Over the period under review, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 69% against the previous year. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, natural rubber and gum imports stood at $X in 2022. In general, imports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2018 when imports increased by 192% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Bulgaria (X tons) constituted the largest supplier of natural rubber and gum to Greece, accounting for a 51% share of total imports. Moreover, natural rubber and gum imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was held by Thailand (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Bulgaria amounted to +27.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-6.9% per year) and Thailand (+0.7% per year).

In value terms, Bulgaria ($X) constituted the largest supplier of natural rubber and gums to Greece, comprising 57% of total imports. The second position in the ranking was taken by Poland ($X), with a 9.9% share of total imports. It was followed by Malaysia, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Bulgaria totaled +24.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+9.4% per year) and Malaysia (-9.5% per year).

Import Prices by Country

The average natural rubber and gum import price stood at $X per ton in 2022, jumping by 23% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 72%. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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