Indonesia: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in Indonesia

The Indonesian unvulcanised rubber market skyrocketed to $X in 2021, growing by 19% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Unvulcanised Rubber Production in Indonesia

In value terms, unvulcanised rubber production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 26% against the previous year. Unvulcanised rubber production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Unvulcanised Rubber Exports

Exports from Indonesia

Unvulcanised rubber exports from Indonesia surged to X tons in 2021, with an increase of 56% compared with the previous year. In general, exports, however, recorded a mild setback. The most prominent rate of growth was recorded in 2015 with an increase of 373% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, unvulcanised rubber exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2015 when exports increased by 266%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for unvulcanised rubber exports from Indonesia, accounting for a 58% share of total exports. Moreover, unvulcanised rubber exports to Vietnam exceeded the volume sent to the second major destination, India (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam totaled +66.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+396.7% per year) and China (-17.9% per year).

In value terms, Vietnam ($X) remains the key foreign market for unvulcanised rubber exports from Indonesia, comprising 66% of total exports. The second position in the ranking was taken by India ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Vietnam totaled +53.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+300.2% per year) and China (-21.3% per year).

Export Prices by Country

In 2021, the average unvulcanised rubber export price amounted to $X per ton, picking up by 1.7% against the previous year. Overall, the export price, however, showed a noticeable downturn. The pace of growth was the most pronounced in 2019 when the average export price increased by 33%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to India ($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 China (-4.1%), while the prices for the other major destinations experienced a decline.

Unvulcanised Rubber Imports

Imports into Indonesia

In 2021, supplies from abroad of unvulcanised rubber was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.9% 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, unvulcanised rubber imports soared to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons), Thailand (X tons) and Malaysia (X tons) were the main suppliers of unvulcanised rubber imports to Indonesia, together comprising 82% of total imports. China, the UK, Hong Kong SAR, the United States and South Korea lagged somewhat behind, together comprising a further 17%.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +117.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Thailand ($X) and Hong Kong SAR ($X) were the largest unvulcanised rubber suppliers to Indonesia, together comprising 80% of total imports.

Hong Kong SAR, with a CAGR of +112.3%, recorded 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 unvulcanised rubber import price amounted to $X per ton, waning by -7.3% against the previous year. In general, the import price saw a abrupt setback. The pace of growth appeared the most rapid in 2020 when the average import price increased by 14%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 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 Hong Kong SAR ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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