Malaysia: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in Malaysia

The Malaysian unvulcanised rubber market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, recorded a pronounced 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.

Unvulcanised Rubber Production in Malaysia

In value terms, unvulcanised rubber production stood at $X in 2021 estimated in export price. Overall, production, however, showed a noticeable contraction. The growth pace was the most rapid in 2017 with an increase of 18% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Unvulcanised Rubber Exports

Exports from Malaysia

In 2021, overseas shipments of unvulcanised rubber increased by 14% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 152% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, unvulcanised rubber exports skyrocketed to $X in 2021. In general, exports saw a mild increase. The most prominent rate of growth was recorded in 2019 when exports increased by 97%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for unvulcanised rubber exports from Malaysia, with a 72% share of total exports. Moreover, unvulcanised rubber exports to India exceeded the volume sent to the second major destination, Australia (X tons), sixfold. The third position in this ranking was held by China (X tons), with a 4.9% share.

From 2012 to 2021, the average annual growth rate of volume to India amounted to +202.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+0.3% per year) and China (-10.9% per year).

In value terms, India ($X) remains the key foreign market for unvulcanised rubber exports from Malaysia, comprising 60% of total exports. The second position in the ranking was taken by Australia ($X), with a 13% share of total exports. It was followed by China, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value to India stood at +151.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-5.0% per year) and China (-9.3% per year).

Export Prices by Country

In 2021, the average unvulcanised rubber export price amounted to $X per ton, growing by 6.9% against the previous year. In general, the export price, however, showed a abrupt setback. The pace of growth was the most pronounced in 2017 an increase of 39%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Sri Lanka ($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 (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Unvulcanised Rubber Imports

Imports into Malaysia

In 2021, supplies from abroad of unvulcanised rubber decreased by -12.5% to X tons, falling for the second consecutive year after four years of growth. In general, imports saw a pronounced descent. The growth pace was the most rapid in 2013 when imports increased by 51% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, unvulcanised rubber imports totaled $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 60% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of unvulcanised rubber to Malaysia, accounting for a 59% share of total imports. Moreover, unvulcanised rubber imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. The third position in this ranking was held by Singapore (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +38.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-10.4% per year) and Singapore (+13.9% per year).

In value terms, Thailand ($X), China ($X) and Singapore ($X) constituted the largest unvulcanised rubber suppliers to Malaysia, with a combined 80% share of total imports. These countries were followed by Vietnam, South Korea, the Netherlands and Japan, which together accounted for a further 15%.

Vietnam, with a CAGR of +145.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average unvulcanised rubber import price stood at $X per ton in 2021, with an increase of 15% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unvulcanised rubber import price increased by +75.0% against 2019 indices. The growth pace was the most rapid in 2020 when the average import price increased by 53%. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see steady growth in years to come.

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 Vietnam ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+30.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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