Kenya: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Kenya

In 2021, the Kenyan synthetic rubber market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, recorded a abrupt decline. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Synthetic Rubber Exports

Exports from Kenya

In 2021, overseas shipments of synthetic rubber were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports recorded a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 443% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, synthetic rubber exports soared to $X in 2021. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 536%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Uganda (X tons), Rwanda (X tons) and Tanzania (X tons) were the main destinations of synthetic rubber exports from Kenya, together accounting for 58% of total exports. These countries were followed by Somalia and South Sudan, which together accounted for a further 5.1%.

From 2012 to 2021, the biggest increases were recorded for Somalia (with a CAGR of +213.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic rubber exported from Kenya were Uganda ($X), Rwanda ($X) and Tanzania ($X), together comprising 91% of total exports. These countries were followed by South Sudan and Somalia, which together accounted for a further 9.3%.

Somalia, with a CAGR of +284.6%, recorded 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 synthetic rubber export price amounted to $X per ton, reducing by -57.1% against the previous year. Overall, the export price, however, showed a buoyant increase. The growth pace was the most rapid in 2020 when the average export price increased by 405% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Sudan ($X per ton), while the average price for exports to Tanzania ($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 the United Arab Emirates (+70.5%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Rubber Imports

Imports into Kenya

In 2021, the amount of synthetic rubber imported into Kenya was estimated at X tons, with an increase of 14% compared with 2020 figures. Over the period under review, imports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 36%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, synthetic rubber imports surged to $X in 2021. Overall, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 41% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest synthetic rubber supplier to Kenya, with a 46% share of total imports. Moreover, synthetic rubber imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was held by South Korea (X tons), with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.1% per year) and South Korea (-16.2% per year).

In value terms, China ($X) constituted the largest supplier of synthetic rubber to Kenya, comprising 39% of total imports. The second position in the ranking was held by Germany ($X), with a 13% share of total imports. It was followed by South Korea, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.4% per year) and South Korea (-17.4% per year).

Import Prices by Country

In 2021, the average synthetic rubber import price amounted to $X per ton, rising by 13% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable decline. The growth pace was the most rapid in 2017 an increase of 39%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 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 the United States ($X per ton), while the price for Brazil ($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 Africa (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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