India: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in India

The Indian synthetic latex rubber market reached $X in 2021, increasing by 3.4% against the previous year. Over the period under review, consumption showed a noticeable reduction. The most prominent rate of growth was recorded in 2017 with an increase of 4.6% against the previous year. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Synthetic Latex Rubber Production in India

In value terms, synthetic latex rubber production totaled $X in 2021 estimated in export price. Overall, production showed a pronounced decline. The pace of growth was the most pronounced in 2017 with an increase of 7.5% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Synthetic Latex Rubber Exports

Exports from India

For the sixth year in a row, India recorded growth in shipments abroad of synthetic latex rubber, which increased by 42% to X tons in 2021. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by 67%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, synthetic latex rubber exports skyrocketed to $X in 2021. In general, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 84%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Vietnam (X tons), the United Arab Emirates (X tons) and Malaysia (X tons) were the main destinations of synthetic latex rubber exports from India, together accounting for 24% of total exports. Pakistan, Nepal, Thailand, Egypt, the United States, China, Latvia, Iran, Sri Lanka and Belgium lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +51.1%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), the United Arab Emirates ($X) and Malaysia ($X) constituted the largest markets for synthetic latex rubber exported from India worldwide, with a combined 23% share of total exports. These countries were followed by Nepal, Thailand, Pakistan, Egypt, the United States, Iran, Latvia, China, Sri Lanka and Belgium, which together accounted for a further 27%.

Egypt, with a CAGR of +42.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average synthetic latex rubber export price stood at $X per ton in 2021, picking up by 29% against the previous year. In general, the export price, however, continues to indicate a perceptible slump. The export price peaked at $X per ton in 2012; however, from 2013 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 Vietnam ($X per ton), while the average price for exports to Pakistan ($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 Sri Lanka (-1.6%), while the prices for the other major destinations experienced a decline.

Synthetic Latex Rubber Imports

Imports into India

Synthetic latex rubber imports into India skyrocketed to X tons in 2021, jumping by 73% compared with the previous year's figure. In general, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic latex rubber imports surged to $X in 2021. Overall, total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons), Germany (X tons) and Indonesia (X tons) were the main suppliers of synthetic latex rubber imports to India, with a combined 38% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +35.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), South Korea ($X) and Indonesia ($X) constituted the largest synthetic latex rubber suppliers to India, with a combined 29% share of total imports.

South Korea, with a CAGR of +29.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average synthetic latex rubber import price amounted to $X per ton, picking up by 24% against the previous year. Over the period under review, the import price, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 32% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 ($X per ton), while the price for Indonesia ($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 Netherlands (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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