Philippines: Market for Isoprene Rubber (IR) in Primary Forms 2025

Market Size for Isoprene Rubber (IR) in Primary Forms in the Philippines

In 2021, after seven years of decline, there was significant growth in the Philippine market for isoprene rubber (IR) in primary forms, when its value increased by 916% to $X. Over the period under review, consumption, however, continues to indicate a abrupt contraction. Consumption of peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Isoprene Rubber (IR) in Primary Forms in the Philippines

In value terms, production of isoprene rubber (IR) in primary forms amounted to $X in 2021 estimated in export price. Over the period under review, production faced a significant contraction. The pace of growth was the most pronounced in 2020 with a decrease of 99.9%. Production of peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports from the Philippines

In 2021, overseas shipments of isoprene rubber (IR) in primary forms decreased by -4.5% to X tons, falling for the second year in a row after eight years of growth. In general, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 1,404%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of isoprene rubber (IR) in primary forms skyrocketed to $X in 2021. Overall, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 2,399%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

From 2019 to 2021, the average annual rate of growth in terms of volume to No country was relatively modest.

From 2019 to 2021, the average annual rate of growth in terms of value to No country was relatively modest.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports into the Philippines

Imports of isoprene rubber (IR) in primary forms into the Philippines skyrocketed to X tons in 2021, rising by 69% against 2020 figures. In general, imports, however, saw a precipitous contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 158% against the previous year. Over the period under review, imports of hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of isoprene rubber (IR) in primary forms skyrocketed to $X in 2021. Over the period under review, imports, however, showed a abrupt downturn. Over the period under review, imports of reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest isoprene rubber (IR) in primary form supplier to the Philippines, with a 34% share of total imports. Moreover, imports of isoprene rubber (IR) in primary forms from the United States exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. China (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-12.5% per year) and China (-2.1% per year).

In value terms, the largest isoprene rubber (IR) in primary form suppliers to the Philippines were India ($X), Taiwan (Chinese) ($X) and the United States ($X), together comprising 44% of total imports.

In terms of the main suppliers, India, with a CAGR of +2.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average import price for isoprene rubber (IR) in primary forms amounted to $X per ton, with an increase of 118% against the previous year. Overall, the import price recorded prominent growth. The most prominent rate of growth was recorded in 2018 an increase of 742% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while the price for Malaysia ($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 (+45.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform