Pakistan: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in Pakistan

After two years of decline, the Pakistani unvulcanised rubber market increased by 158% to $X in 2021. In general, consumption enjoyed a resilient expansion. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in years to come.

Unvulcanised Rubber Exports

Exports from Pakistan

Unvulcanised rubber exports from Pakistan fell sharply to X kg in 2021, with a decrease of -89.1% against the previous year's figure. Over the period under review, exports faced a sharp slump. The most prominent rate of growth was recorded in 2020 with an increase of 71%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, unvulcanised rubber exports contracted significantly to $X in 2021. Overall, exports saw a precipitous shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 106%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X kg) was the main destination for unvulcanised rubber exports from Pakistan, with a 80% share of total exports. Moreover, unvulcanised rubber exports to Saudi Arabia exceeded the volume sent to the second major destination, Germany (X kg), more than tenfold. Kuwait (X kg) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia amounted to -16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-17.5% per year) and Kuwait (-26.0% per year).

In value terms, Saudi Arabia ($X) emerged as the key foreign market for unvulcanised rubber exports from Pakistan, comprising 50% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 22% share of total exports. It was followed by Germany, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia stood at -22.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-16.5% per year) and Germany (-16.1% per year).

Export Prices by Country

In 2021, the average unvulcanised rubber export price amounted to $X per ton, waning by -13.5% against the previous year. Overall, the export price showed a mild descent. The most prominent rate of growth was recorded in 2013 when the average export price increased by 81% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to the Netherlands ($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 Kuwait (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanised Rubber Imports

Imports into Pakistan

In 2021, supplies from abroad of unvulcanised rubber increased by 231% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, unvulcanised rubber imports soared to $X in 2021. Overall, imports recorded a resilient increase. The growth pace was the most rapid in 2016 when imports increased by 171% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of unvulcanised rubber to Pakistan, accounting for a 71% share of total imports. Moreover, unvulcanised rubber imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), eightfold. The third position in this ranking was taken by Thailand (X tons), with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +38.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+29.5% per year) and Thailand (+43.0% per year).

In value terms, China ($X) constituted the largest supplier of unvulcanised rubber to Pakistan, comprising 43% of total imports. The second position in the ranking was held by Italy ($X), with a 20% share of total imports. It was followed by Thailand, with a 17% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+26.8% per year) and Thailand (+41.0% per year).

Import Prices by Country

The average unvulcanised rubber import price stood at $X per ton in 2021, shrinking by -37.2% against the previous year. Overall, the import price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2018 an increase of 9.3%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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