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Philippines - Synthetic Latex Rubber - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in the Philippines

In 2021, the Philippine synthetic latex rubber market increased by 11% to $X, rising for the third year in a row after two years of decline. In general, consumption, however, saw a resilient expansion. Synthetic latex rubber consumption peaked in 2021 and is expected to retain growth in the near future.

Synthetic Latex Rubber Exports

Exports from the Philippines

In 2021, overseas shipments of synthetic latex rubber decreased by -7.9% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, exports faced a abrupt downturn. The pace of growth appeared the most rapid in 2015 with an increase of 28% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, synthetic latex rubber exports expanded markedly to $X in 2021. Overall, exports recorded a deep reduction. The growth pace was the most rapid in 2015 with an increase of 17%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand (X kg) was the main destination for synthetic latex rubber exports from the Philippines, accounting for a approx. 2.2% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Thailand was relatively modest.

In value terms, Thailand ($X) emerged as the key foreign market for synthetic latex rubber exports from the Philippines.

From 2012 to 2021, the average annual growth rate of value to Thailand was relatively modest.

Export Prices by Country

In 2021, the average synthetic latex rubber export price amounted to $X per ton, with an increase of 15% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 69% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2012 to 2021, the rate of growth in terms of prices for Malaysia amounted to -11.5% per year.

Synthetic Latex Rubber Imports

Imports into the Philippines

In 2021, supplies from abroad of synthetic latex rubber decreased by -4.7% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 222% against the previous year. As a result, imports attained the peak of X tons, and then dropped modestly in the following year.

In value terms, synthetic latex rubber imports soared to $X in 2021. Overall, imports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 115% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

Russia (X tons), South Korea (X tons) and China (X tons) were the main suppliers of synthetic latex rubber imports to the Philippines, together accounting for 64% of total imports. Belgium, Taiwan (Chinese), Indonesia, Thailand, the Netherlands, Germany, Japan and Malaysia lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +38.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic latex rubber suppliers to the Philippines were South Korea ($X), China ($X) and Russia ($X), together comprising 61% of total imports. These countries were followed by Belgium, Taiwan (Chinese), Germany, the Netherlands, Japan, Thailand, Indonesia and Malaysia, which together accounted for a further 35%.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +40.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average synthetic latex rubber import price amounted to $X per ton, growing by 26% against the previous year. Overall, the import price, however, saw a perceptible downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for synthetic latex rubber in the world?

China remains the largest synthetic latex rubber consuming country worldwide, comprising approx. 20% of total volume. Moreover, synthetic latex rubber consumption in China exceeded the figures recorded by the second-largest consumer, Malaysia, twofold. India ranked third in terms of total consumption with a 7.9% share.

What are the largest producers of synthetic latex rubber in the world?

The countries with the highest volumes of synthetic latex rubber production in 2021 were China, South Korea and India, together accounting for 40% of global production.

What are the leading suppliers of synthetic latex rubber to the Philippines?

In value terms, China, Russia and South Korea were the largest synthetic latex rubber suppliers to the Philippines, together accounting for 66% of total imports.

What is the average export price for synthetic latex rubber in the Philippines?

The average synthetic latex rubber export price stood at $2,143 per ton in 2020, surging by 542% against the previous year.

What is the average import price for synthetic latex rubber in the Philippines?

In 2021, the average synthetic latex rubber import price amounted to $2,716 per ton, picking up by 76% against the previous year.

This report provides an in-depth analysis of the synthetic latex rubber market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20171050 - Synthetic latex rubber

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023