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

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

The Italian market for isoprene rubber (IR) in primary forms skyrocketed to $X in 2021, rising by 142% against the previous year. Overall, the total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Isoprene Rubber (IR) in Primary Forms in Italy

In value terms, production of isoprene rubber (IR) in primary forms shrank to $X in 2021 estimated in export price. In general, the total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +73.5% against 2016 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 27% against the previous year. Production of peaked at $X in 2020, and then dropped in the following year.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports from Italy

In 2021, after three years of growth, there was significant decline in overseas shipments of isoprene rubber (IR) in primary forms, when their volume decreased by -15.1% to X tons. Over the period under review, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 63%. As a result, the exports reached the peak of X tons, and then reduced notably in the following year.

In value terms, exports of isoprene rubber (IR) in primary forms soared to $X in 2021. Overall, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 40% against the previous year. Over the period under review, the exports of hit record highs in 2021 and are likely to continue growth in years to come.

Exports by Country

Malaysia (X tons), Turkey (X tons) and Sri Lanka (X tons) were the main destinations of exports of isoprene rubber (IR) in primary forms from Italy, together comprising 59% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +20.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for isoprene rubber (IR) in primary form exported from Italy were Sri Lanka ($X), Turkey ($X) and Germany ($X), together comprising 57% of total exports.

Turkey, with a CAGR of +20.6%, saw 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

In 2021, the average export price for isoprene rubber (IR) in primary forms amounted to $X per ton, rising by 64% against the previous year. Over the period under review, the export price, however, recorded a slight shrinkage. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Malaysia ($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 Pakistan (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports into Italy

In 2021, overseas purchases of isoprene rubber (IR) in primary forms increased by 209% to X tons, rising for the second year in a row after two years of decline. In general, imports saw a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of isoprene rubber (IR) in primary forms skyrocketed to $X in 2021. Over the period under review, imports, however, showed a slight decline. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest isoprene rubber (IR) in primary form supplier to Italy, accounting for a 55% share of total imports. Moreover, imports of isoprene rubber (IR) in primary forms from Germany exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. Slovenia (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+1.4% per year) and Slovenia (+72.9% per year).

In value terms, Germany ($X), Hungary ($X) and Slovenia ($X) appeared to be the largest isoprene rubber (IR) in primary form suppliers to Italy, with a combined 66% share of total imports.

Among the main suppliers, Slovenia, with a CAGR of +66.4%, recorded the highest rates of growth with regard to the value of imports, 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 import price for isoprene rubber (IR) in primary forms amounted to $X per ton, reducing by -46.4% against the previous year. Overall, the import price saw a abrupt curtailment. The growth pace was the most rapid in 2019 an increase of 49% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then declined significantly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform