Italy: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Italy

The Italian synthetic rubber market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, saw a pronounced curtailment. Synthetic rubber consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Synthetic Rubber Production in Italy

In value terms, synthetic rubber production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a drastic downturn. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Synthetic Rubber Exports

Exports from Italy

In 2021, overseas shipments of synthetic rubber increased by 3.2% to X tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 12%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, synthetic rubber exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Turkey (X tons) and Egypt (X tons) were the main destinations of synthetic rubber exports from Italy, with a combined 28% share 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 Egypt (with a CAGR of +37.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic rubber exported from Italy were Germany ($X), Turkey ($X) and the United States ($X), together comprising 30% of total exports. Spain, Belgium, France, Sri Lanka, Egypt, Poland, China, Malaysia, India and Portugal lagged somewhat behind, together accounting for a further 36%.

In terms of the main countries of destination, Egypt, with a CAGR of +22.0%, recorded the highest rates of growth with regard to the value of exports, 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 synthetic rubber export price amounted to $X per ton, surging by 34% against the previous year. Over the period under review, the export price, however, showed a perceptible descent. 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 foreign markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Malaysia ($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 Sri Lanka (+1.3%), while the prices for the other major destinations experienced a decline.

Synthetic Rubber Imports

Imports into Italy

In 2021, after two years of decline, there was significant growth in overseas purchases of synthetic rubber, when their volume increased by 21% to X tons. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed 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 rubber imports soared to $X in 2021. In general, imports, however, recorded a slight slump. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X tons), Belgium (X tons) and South Korea (X tons) were the main suppliers of synthetic rubber imports to Italy, together comprising 40% of total imports. These countries were followed by the Netherlands, France, Japan, Spain, Romania, Poland, Russia, Slovenia, China and the UK, which together accounted for a further 40%.

From 2012 to 2021, the biggest increases were recorded for Slovenia (with a CAGR of +33.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Germany ($X) and the Netherlands ($X) constituted the largest synthetic rubber suppliers to Italy, with a combined 41% share of total imports. These countries were followed by France, South Korea, Japan, Spain, Romania, China, Poland, Russia, the UK and Slovenia, which together accounted for a further 45%.

In terms of the main suppliers, Slovenia, with a CAGR of +12.9%, saw the highest growth rate of 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 synthetic rubber import price amounted to $X per ton, with an increase of 25% against the previous year. In general, the import price, however, saw a pronounced contraction. 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.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Slovenia ($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 (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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