Italy: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Italy

The Italian synthetic rubber (excluding latex) market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption, however, continues to indicate a noticeable decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Synthetic Rubber (Excluding Latex) in Italy

In value terms, synthetic rubber (excluding latex) production soared to $X in 2021 estimated in export price. Over the period under review, production, however, saw a mild downturn. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Synthetic Rubber (Excluding Latex)

Exports from Italy

In 2021, exports of synthetic rubber (excluding latex) from Italy dropped slightly to X tons, waning by -3.2% against the year before. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 11%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, synthetic rubber (excluding latex) exports surged to $X in 2021. Over the period under review, exports saw a noticeable descent. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons), Turkey (X tons) and Spain (X tons) were the main destinations of synthetic rubber (excluding latex) exports from Italy, together comprising 34% of total exports. The United States, France, Belgium, India, Poland, South Africa, Portugal, Romania, the UK and Brazil lagged somewhat behind, together comprising a further 38%.

From 2012 to 2021, the biggest increases were recorded for South Africa (with a CAGR of +44.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Turkey ($X) and Spain ($X) appeared to be the largest markets for synthetic rubber (excluding latex) exported from Italy worldwide, with a combined 34% share of total exports. These countries were followed by France, the United States, Belgium, Poland, India, Portugal, Romania, the UK, South Africa and Brazil, which together accounted for a further 35%.

South Africa, with a CAGR of +36.7%, saw the highest growth rate of 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 rubber (excluding latex) export price stood at $X per ton in 2021, surging by 33% against the previous year. Overall, the export price, however, continues to indicate a noticeable shrinkage. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to South Africa ($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 (-1.3%), while the prices for the other major destinations experienced a decline.

Imports of Synthetic Rubber (Excluding Latex)

Imports into Italy

In 2021, overseas purchases of synthetic rubber (excluding latex) increased by 20% to X tons for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, synthetic rubber (excluding latex) imports soared to $X in 2021. In general, imports, however, saw a mild decrease. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Belgium (X tons), South Korea (X tons) and France (X tons) were the main suppliers of synthetic rubber (excluding latex) imports to Italy, with a combined 33% share of total imports. The Netherlands, Germany, Japan, Spain, Romania, Poland, Russia, China, the UK and Indonesia lagged somewhat behind, together accounting for a further 48%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +440.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), the Netherlands ($X) and Germany ($X) constituted the largest synthetic rubber (excluding latex) suppliers to Italy, with a combined 35% share of total imports. These countries were followed by France, South Korea, Japan, Spain, Romania, China, Poland, Russia, the UK and Indonesia, which together accounted for a further 49%.

Indonesia, with a CAGR of +364.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average synthetic rubber (excluding latex) import price stood at $X per ton in 2021, growing by 28% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible reduction. Over the period under review, average import prices hit record highs 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 Germany ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform