Russian Federation: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in the Russian Federation

In 2021, the Russian synthetic rubber market decreased by -8.8% to $X, falling for the third year in a row after three years of growth. In general, consumption saw a abrupt setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Synthetic Rubber Production in the Russian Federation

In value terms, synthetic rubber production soared to $X in 2021 estimated in export price. Over the period under review, production showed a perceptible reduction. The growth pace was the most rapid in 2017 when the production volume increased by 23% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Synthetic Rubber Exports

Exports from the Russian Federation

In 2021, overseas shipments of synthetic rubber were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when exports increased by 13% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, synthetic rubber exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a perceptible downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), Poland (X tons) and India (X tons) were the main destinations of synthetic rubber exports from Russia, together accounting for 35% of total exports. These countries were followed by Turkey, the United States, Mexico, Hungary, Romania, Slovakia, Germany, Belarus, Brazil and the Czech Republic, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +53.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic rubber exported from Russia were China ($X), Poland ($X) and India ($X), with a combined 34% share of total exports. Turkey, the United States, Hungary, Mexico, Belarus, Romania, Slovakia, Germany, the Czech Republic and Brazil lagged somewhat behind, together comprising a further 43%.

In terms of the main countries of destination, Mexico, with a CAGR of +41.5%, recorded the highest rates of growth with regard to the value of exports, 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 an increase of 35% against the previous year. Overall, the export price, however, continues to indicate a abrupt setback. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Hungary ($X per ton) and Belarus ($X per ton), while the average price for exports to Brazil ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (-5.2%), while the prices for the other major destinations experienced a decline.

Synthetic Rubber Imports

Imports into the Russian Federation

Synthetic rubber imports into Russia surged to X tons in 2021, increasing by 16% against the previous year. The total import volume increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic rubber imports soared to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X tons), South Korea (X tons) and Finland (X tons) were the main suppliers of synthetic rubber imports to Russia, together comprising 49% of total imports. These countries were followed by Taiwan (Chinese), Belgium, Japan, the United States, the Czech Republic, China, France, Italy, Poland and Saudi Arabia, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +96.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber suppliers to Russia were Germany ($X), South Korea ($X) and Taiwan (Chinese) ($X), together accounting for 46% of total imports. These countries were followed by Japan, Belgium, Finland, China, the United States, Italy, France, the Czech Republic, Poland and Saudi Arabia, which together accounted for a further 43%.

In terms of the main suppliers, Saudi Arabia, with a CAGR of +79.9%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the average synthetic rubber import price amounted to $X per ton, with an increase of 25% against the previous year. Over the period under review, the import price, however, recorded a perceptible curtailment. The import price peaked 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 ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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