Romania: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Romania

In 2021, the Romanian synthetic rubber (excluding latex) market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Synthetic Rubber (Excluding Latex) in Romania

In value terms, synthetic rubber (excluding latex) production surged to $X in 2021 estimated in export price. Overall, production continues to indicate a significant increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Synthetic Rubber (Excluding Latex)

Exports from Romania

In 2021, approx. X tons of synthetic rubber (excluding latex) were exported from Romania; rising by 52% compared with the year before. In general, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2019 when exports increased by 67%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, synthetic rubber (excluding latex) exports skyrocketed to $X in 2021. Overall, exports, however, saw a abrupt decrease. The growth pace was the most rapid in 2020 when exports increased by 48%. 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

Germany (X tons), Italy (X tons) and Hungary (X tons) were the main destinations of synthetic rubber (excluding latex) exports from Romania, with a combined 43% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +24.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Hungary ($X) constituted the largest markets for synthetic rubber (excluding latex) exported from Romania worldwide, with a combined 54% share of total exports.

Hungary, with a CAGR of +23.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average synthetic rubber (excluding latex) export price stood at $X per ton in 2021, declining by -9.1% against the previous year. In general, the export price recorded a noticeable contraction. The growth pace was the most rapid in 2020 an increase of 57%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Bulgaria ($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 Poland (+1.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Rubber (Excluding Latex)

Imports into Romania

In 2021, approx. X tons of synthetic rubber (excluding latex) were imported into Romania; jumping by 17% against the previous year's figure. Overall, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +17.6% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 18% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, synthetic rubber (excluding latex) imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Russia (X tons) constituted the largest synthetic rubber (excluding latex) supplier to Romania, accounting for a 47% share of total imports. Moreover, synthetic rubber (excluding latex) imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia amounted to +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.3% per year) and Italy (-2.6% per year).

In value terms, the largest synthetic rubber (excluding latex) suppliers to Romania were Russia ($X), Germany ($X) and Italy ($X), together accounting for 65% of total imports. These countries were followed by Japan, France, Belgium, Poland, Hungary, Thailand, the Czech Republic, South Korea and Indonesia, which together accounted for a further 31%.

Indonesia, with a CAGR of +573.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 rubber (excluding latex) import price amounted to $X per ton, rising by 23% against the previous year. In general, the import price, however, continues to indicate a noticeable contraction. The growth pace was the most rapid in 2017 an increase of 25%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Japan ($X per ton), while the price for Indonesia ($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 (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform