Norway: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in Norway

In 2021, the Norwegian market for isoprene rubber (IR) in primary forms decreased by -24.9% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption continues to indicate a abrupt contraction. Consumption of peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports from Norway

In 2021, shipments abroad of isoprene rubber (IR) in primary forms increased by 6,889% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, recorded a abrupt contraction. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of isoprene rubber (IR) in primary forms soared to $X in 2021. Overall, exports, however, faced a dramatic downturn. The pace of growth appeared the most rapid in 2016 with an increase of 2,091% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Poland (X tons) was the main destination for exports of isoprene rubber (IR) in primary forms from Norway, with a 99% share of total exports. It was followed by Sweden (X kg), with a 1.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Poland stood at +182.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-31.3% per year) and Denmark (-57.1% per year).

In value terms, Poland ($X) emerged as the key foreign market for isoprene rubber (IR) in primary forms exports from Norway, comprising 87% of total exports. The second position in the ranking was taken by Sweden ($X), with a 6.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Poland amounted to +135.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-19.7% per year) and Denmark (-49.0% per year).

Export Prices by Country

In 2021, the average export price for isoprene rubber (IR) in primary forms amounted to $X per ton, shrinking by -72.1% against the previous year. Over the period under review, the export price saw a deep slump. The most prominent rate of growth was recorded in 2019 an increase of 1,007%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Denmark ($X per ton), while the average price for exports to Poland ($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 Denmark (+18.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports into Norway

In 2021, purchases abroad of isoprene rubber (IR) in primary forms was finally on the rise to reach X tons after two years of decline. In general, imports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of 187% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, imports of isoprene rubber (IR) in primary forms soared to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 64% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), India (X tons) and Sweden (X kg) were the main suppliers of imports of isoprene rubber (IR) in primary forms to Norway, 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 India (with a CAGR of +46.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) constituted the largest supplier of isoprene rubber (IR) in primary forms to Norway, comprising 52% of total imports. The second position in the ranking was held by India ($X), with a 14% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden totaled +24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+40.2% per year) and China (+32.3% per year).

Import Prices by Country

In 2021, the average import price for isoprene rubber (IR) in primary forms amounted to $X per ton, rising by 15% against the previous year. Over the period under review, the import price posted a strong increase. The growth pace was the most rapid in 2016 an increase of 177% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Denmark ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform