Romania: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Romania

In 2021, the Romanian synthetic rubber market increased by 33% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +4.4% 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 reached the peak level and is likely to continue growth in the immediate term.

Synthetic Rubber Exports

Exports from Romania

In 2021, the amount of synthetic rubber exported from Romania surged to X tons, rising by 52% compared with the previous year's figure. Overall, exports, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2019 with an increase of 67% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, synthetic rubber exports surged to $X in 2021. Over the period under review, exports, however, faced a abrupt decrease. The pace of growth appeared the most rapid in 2020 with an increase of 47%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons), Italy (X tons) and the Czech Republic (X tons) were the main destinations of synthetic rubber exports from Romania, together accounting for 40% of total exports. These countries were followed by France, Bulgaria, Hungary, Poland, Russia, the UK, Slovakia, Turkey, Portugal and Spain, which together accounted for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +43.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic rubber exported from Romania were Germany ($X), Italy ($X) and Hungary ($X), with a combined 54% share of total exports. The Czech Republic, France, Poland, Slovakia, Russia, Bulgaria, the UK, Turkey, Portugal and Spain lagged somewhat behind, together accounting for a further 43%.

Portugal, with a CAGR of +32.7%, saw the highest rates of growth with regard to the value of exports, among 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

In 2021, the average synthetic rubber export price amounted to $X per ton, with a decrease of -8.5% against the previous year. In general, the export price continues to indicate a perceptible contraction. The pace of growth was the most pronounced in 2020 an increase of 56% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Spain ($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.

Synthetic Rubber Imports

Imports into Romania

In 2021, the amount of synthetic rubber imported into Romania surged to X tons, jumping by 17% compared with 2020. Overall, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.8% 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 +17.9% against 2018 indices. The growth pace was the most rapid in 2013 when imports increased by 19% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, synthetic rubber imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. 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 supplier of synthetic rubber to Romania, accounting for a 46% share of total imports. Moreover, synthetic rubber imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 4.9% share.

From 2012 to 2021, the average annual growth rate of volume from Russia stood at +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.2% per year) and Italy (-2.2% per year).

In value terms, the largest synthetic rubber 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%.

In terms of the main suppliers, Indonesia, with a CAGR of +573.5%, recorded 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

The average synthetic rubber import price stood at $X per ton in 2021, growing by 23% against the previous year. Overall, the import price, however, saw a abrupt slump. The pace of growth was the most pronounced in 2017 when the average import price increased by 25% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

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