Japan: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in Japan

In 2021, the Japanese synthetic latex rubber market decreased by -5.2% to $X, falling for the second consecutive year after two years of growth. Overall, consumption continues to indicate a noticeable curtailment. Synthetic latex rubber consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Synthetic Latex Rubber Production in Japan

In value terms, synthetic latex rubber production totaled $X in 2021 estimated in export price. Overall, production continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2018 with an increase of 23%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Synthetic Latex Rubber Exports

Exports from Japan

In 2021, synthetic latex rubber exports from Japan surged to X tons, growing by 37% compared with the previous year's figure. Over the period under review, total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +33.7% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, synthetic latex rubber exports soared to $X in 2021. In general, exports saw a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X tons), China (X tons) and Thailand (X tons) were the main destinations of synthetic latex rubber exports from Japan, together accounting for 70% of total exports. These countries were followed by Indonesia, Vietnam, Sri Lanka, the United States, South Korea and Taiwan (Chinese), which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sri Lanka (with a CAGR of +24.9%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for synthetic latex rubber exports from Japan, comprising 39% of total exports. The second position in the ranking was held by Malaysia ($X), with a 19% share of total exports. It was followed by Thailand, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+8.3% per year) and Thailand (+1.0% per year).

Export Prices by Country

The average synthetic latex rubber export price stood at $X per ton in 2021, with an increase of 8.6% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 24%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in years to come.

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 South Korea ($X per ton), while the average price for exports to Malaysia ($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 China (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Latex Rubber Imports

Imports into Japan

In 2021, supplies from abroad of synthetic latex rubber was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when imports increased by 73%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, synthetic latex rubber imports soared to $X in 2021. In general, imports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2018 with an increase of 71% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Indonesia (X tons), Taiwan (Chinese) (X tons) and Germany (X tons) were the main suppliers of synthetic latex rubber imports to Japan, with a combined 84% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +5.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Taiwan (Chinese) ($X) and Indonesia ($X) were the largest synthetic latex rubber suppliers to Japan, with a combined 74% share of total imports.

In terms of the main suppliers, Germany, with a CAGR of +6.5%, recorded 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

The average synthetic latex rubber import price stood at $X per ton in 2021, increasing by 4.3% against the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, synthetic latex rubber import price decreased by -0.2% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of 23%. The import price peaked at $X per ton in 2019; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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