Ireland: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in Ireland

In 2021, the Irish market for isoprene rubber (IR) in primary forms decreased by -78% to $X, falling for the second consecutive year after two years of growth. In general, consumption saw a dramatic setback. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports from Ireland

In 2021, approx. X tons of isoprene rubber (IR) in primary forms were exported from Ireland; growing by 22,119% compared with 2020 figures. Over the period under review, exports continue to indicate resilient growth. Over the period under review, the exports of reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of isoprene rubber (IR) in primary forms surged to $X in 2021. Overall, exports posted a remarkable increase. Over the period under review, the exports of hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for exports of isoprene rubber (IR) in primary forms from Ireland, accounting for a 81% share of total exports. Moreover, exports of isoprene rubber (IR) in primary forms to the UK exceeded the volume sent to the second major destination, Saudi Arabia (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume to the UK totaled +74.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (0.0% per year) and the United States (+20.0% per year).

In value terms, the largest markets for isoprene rubber (IR) in primary form exported from Ireland were the UK ($X), Saudi Arabia ($X) and the United States ($X).

The UK, with a CAGR of +18.4%, recorded the highest growth rate of the value of exports, among 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 export price for isoprene rubber (IR) in primary forms stood at $X per ton in 2021, falling by -83.3% against the previous year. Over the period under review, the export price, however, recorded temperate growth. The pace of growth was the most pronounced in 2020 when the average export price increased by 945% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced sharply in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK ($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 Germany (-1.6%), while the prices for the other major destinations experienced a decline.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports into Ireland

In 2021, overseas purchases of isoprene rubber (IR) in primary forms decreased by -12.7% to X tons, falling for the second year in a row after two years of growth. Overall, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 148%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, imports of isoprene rubber (IR) in primary forms contracted to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 163% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the UK (X tons) constituted the largest isoprene rubber (IR) in primary form supplier to Ireland, accounting for a 63% share of total imports. Moreover, imports of isoprene rubber (IR) in primary forms from the UK exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK totaled +28.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-27.9% per year) and the United States (-1.4% per year).

In value terms, the UK ($X) constituted the largest supplier of isoprene rubber (IR) in primary forms to Ireland, comprising 65% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports. It was followed by Belgium, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK stood at +26.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.7% per year) and Belgium (-21.7% per year).

Import Prices by Country

The average import price for isoprene rubber (IR) in primary forms stood at $X per ton in 2021, rising by 7.4% against the previous year. In general, the import price continues to indicate significant growth. The most prominent rate of growth was recorded in 2020 an increase of 117% against the previous year. The import price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Thailand ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+106.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform