Luxembourg: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Luxembourg

The Luxembourg synthetic rubber (excluding latex) market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, saw a perceptible downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Synthetic Rubber (Excluding Latex)

Exports from Luxembourg

In 2021, overseas shipments of synthetic rubber (excluding latex) decreased by -48.5% to X tons, falling for the fifth consecutive year after three years of growth. Overall, exports showed a deep setback. The pace of growth appeared the most rapid in 2015 with an increase of 18%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, synthetic rubber (excluding latex) exports shrank sharply to $X in 2021. In general, exports saw a significant curtailment. The growth pace was the most rapid in 2017 with an increase of 20%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for synthetic rubber (excluding latex) exports from Luxembourg, accounting for a 52% share of total exports. Moreover, synthetic rubber (excluding latex) exports to Germany exceeded the volume sent to the second major destination, France (X tons), twofold. The third position in this ranking was held by the Czech Republic (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at -19.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-6.7% per year) and the Czech Republic (+39.2% per year).

In value terms, the largest markets for synthetic rubber (excluding latex) exported from Luxembourg were Germany ($X), France ($X) and the Czech Republic ($X), together comprising 79% of total exports.

The Czech Republic, with a CAGR of +34.9%, recorded 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 mixed trend patterns.

Export Prices by Country

The average synthetic rubber (excluding latex) export price stood at $X per ton in 2021, rising by 26% against the previous year. Overall, the export price, however, showed a abrupt curtailment. 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 Italy ($X per ton), while the average price for exports to Germany ($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 UK (-2.9%), while the prices for the other major destinations experienced a decline.

Imports of Synthetic Rubber (Excluding Latex)

Imports into Luxembourg

In 2021, purchases abroad of synthetic rubber (excluding latex) was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a noticeable decrease. The growth pace was the most rapid in 2016 when imports increased by 11% against the previous year. Imports peaked at X tons in 2018; however, from 2019 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, recorded a abrupt downturn. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Belgium (X tons), Poland (X tons) and the Netherlands (X tons) were the main suppliers of synthetic rubber (excluding latex) imports to Luxembourg, together comprising 85% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +23.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber (excluding latex) suppliers to Luxembourg were Belgium ($X), Poland ($X) and the Netherlands ($X), together accounting for 83% of total imports.

The Netherlands, with a CAGR of +16.3%, recorded 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 mixed trend patterns.

Import Prices by Country

The average synthetic rubber (excluding latex) import price stood at $X per ton in 2021, surging by 25% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2017 when the average import price increased by 28% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and Russia ($X per ton), while the price for Poland ($X per ton) and the Czech Republic ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (-3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform