Japan: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Japan

The Japanese 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, saw a noticeable reduction. 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 Japan

In value terms, synthetic rubber (excluding latex) production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a perceptible contraction. The pace of growth appeared the most rapid in 2017 when the production volume increased by 19% against the previous year. Synthetic rubber (excluding latex) production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Synthetic Rubber (Excluding Latex)

Exports from Japan

In 2021, after three years of decline, there was significant growth in shipments abroad of synthetic rubber (excluding latex), when their volume increased by 7.5% to X tons. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 13%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, synthetic rubber (excluding latex) exports skyrocketed to $X in 2021. In general, exports, however, saw a noticeable setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for synthetic rubber (excluding latex) exports from Japan, accounting for a 25% share of total exports. Moreover, synthetic rubber (excluding latex) exports to China exceeded the volume sent to the second major destination, Thailand (X tons), twofold. The United States (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2021, the average annual growth rate of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-1.8% per year) and the United States (-0.5% per year).

In value terms, the largest markets for synthetic rubber (excluding latex) exported from Japan were China ($X), Thailand ($X) and the United States ($X), with a combined 45% share of total exports. India, Taiwan (Chinese), Indonesia, Vietnam, Belgium, South Korea, Germany, the Netherlands, Malaysia and Italy lagged somewhat behind, together accounting for a further 41%.

Among the main countries of destination, Vietnam, with a CAGR of +6.9%, saw the highest growth rate of 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 (excluding latex) export price amounted to $X per ton, growing by 15% against the previous year. Over the period under review, the export price, however, recorded a noticeable downturn. 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 Belgium ($X per ton), while the average price for exports to Vietnam ($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 Belgium (-0.2%), while the prices for the other major destinations experienced a decline.

Imports of Synthetic Rubber (Excluding Latex)

Imports into Japan

In 2021, synthetic rubber (excluding latex) imports into Japan skyrocketed to X tons, rising by 23% compared with the previous year. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic rubber (excluding latex) imports soared to $X in 2021. In general, imports, however, showed a abrupt shrinkage. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

South Korea (X tons), Singapore (X tons) and the United States (X tons) were the main suppliers of synthetic rubber (excluding latex) imports to Japan, together accounting for 56% of total imports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +125.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber (excluding latex) suppliers to Japan were South Korea ($X), the United States ($X) and Singapore ($X), together accounting for 58% of total imports.

Singapore, with a CAGR of +123.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 (excluding latex) import price amounted to $X per ton, rising by 9% against the previous year. Over the period under review, the import price, however, recorded a deep slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by 16%. 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.

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 the United States ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform