Greece: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Greece

In 2021, after two years of growth, there was significant decline in the Greek synthetic rubber market, when its value decreased by -8.7% to $X. Over the period under review, consumption recorded a abrupt decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Synthetic Rubber Exports

Exports from Greece

Synthetic rubber exports from Greece skyrocketed to X tons in 2021, jumping by 46% against the year before. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 85%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, synthetic rubber exports soared to $X in 2021. Overall, exports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of 118%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Albania (X tons) was the main destination for synthetic rubber exports from Greece, with a 37% share of total exports. Moreover, synthetic rubber exports to Albania exceeded the volume sent to the second major destination, Romania (X tons), threefold. India (X tons) ranked third in terms of total exports with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Albania amounted to +55.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+48.3% per year) and India (+57.3% per year).

In value terms, Romania ($X) emerged as the key foreign market for synthetic rubber exports from Greece, comprising 28% of total exports. The second position in the ranking was held by Cyprus ($X), with an 11% share of total exports. It was followed by the United Arab Emirates, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to Romania stood at +54.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+5.1% per year) and the United Arab Emirates (+50.7% per year).

Export Prices by Country

The average synthetic rubber export price stood at $X per ton in 2021, reducing by -20.6% against the previous year. Overall, the export price showed a pronounced curtailment. The pace of growth appeared the most rapid in 2019 an increase of 106% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to India ($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 Qatar (+194.3%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Rubber Imports

Imports into Greece

After two years of growth, overseas purchases of synthetic rubber decreased by -14.6% to X tons in 2021. Overall, imports saw a slight reduction. The pace of growth was the most pronounced in 2020 with an increase of 27% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, synthetic rubber imports reached $X in 2021. In general, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2017 when imports increased by 15%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest synthetic rubber supplier to Greece, with a 32% share of total imports. Moreover, synthetic rubber imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+28.0% per year) and Italy (+4.7% per year).

In value terms, Germany ($X) constituted the largest supplier of synthetic rubber to Greece, comprising 28% of total imports. The second position in the ranking was taken by Belgium ($X), with a 12% share of total imports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled -8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+5.0% per year) and the Netherlands (+12.5% per year).

Import Prices by Country

In 2021, the average synthetic rubber import price amounted to $X per ton, growing by 33% against the previous year. In general, the import price, however, recorded a abrupt curtailment. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Austria ($X per ton), while the price for Poland ($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 UK (+1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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