Scandinavia: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Scandinavia

After two years of decline, the Scandinavia synthetic rubber market increased by 19% to $X in 2021. Over the period under review, consumption, however, saw a perceptible contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Synthetic Rubber Production in Scandinavia

In value terms, synthetic rubber production surged to $X in 2021 estimated in export price. In general, production, however, saw a mild curtailment. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Synthetic Rubber Exports

Exports in Scandinavia

For the third consecutive year, Scandinavia recorded growth in shipments abroad of synthetic rubber, which increased by 44% to X tons in 2021. Over the period under review, exports showed slight growth. The pace of growth appeared the most rapid in 2020 with an increase of 44% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the near future.

In value terms, synthetic rubber exports soared to $X in 2021. In general, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Finland was the major exporter of synthetic rubber in Scandinavia, with the volume of exports recording X tons, which was approx. 83% of total exports in 2021. It was distantly followed by Sweden (X tons), making up a 12% share of total exports. Norway (X tons) and Denmark (X tons) took a little share of total exports.

Finland experienced a relatively flat trend pattern with regard to volume of exports of synthetic rubber. At the same time, Sweden (+14.0%) and Norway (+11.8%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +14.0% from 2012-2021. By contrast, Denmark (-5.4%) illustrated a downward trend over the same period. Sweden (+7.5 p.p.) and Norway (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Denmark and Finland saw its share reduced by -2% and -7.1% from 2012 to 2021, respectively.

In value terms, Finland ($X) remains the largest synthetic rubber supplier in Scandinavia, comprising 69% of total exports. The second position in the ranking was held by Sweden ($X), with a 15% share of total exports. It was followed by Denmark, with an 11% share.

In Finland, synthetic rubber exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Sweden (+4.3% per year) and Denmark (+1.9% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, with an increase of 19% against the previous year. Over the period under review, the export price, however, recorded a mild slump. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+7.8%), while the other leaders experienced a decline in the export price figures.

Synthetic Rubber Imports

Imports in Scandinavia

In 2021, purchases abroad of synthetic rubber increased by 5.9% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a noticeable slump. The pace of growth appeared the most rapid in 2017 when imports increased by 10% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic rubber imports surged to $X in 2021. Overall, imports, however, showed a pronounced slump. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Sweden (X tons) and Finland (X tons) were the major importers of synthetic rubber in 2021, resulting at approx. 42% and 33% of total imports, respectively. Denmark (X tons) ranks next in terms of the total imports with a 19% share, followed by Norway (5.8%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Norway (with a CAGR of +0.9%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Sweden ($X), Finland ($X) and Denmark ($X) constituted the countries with the highest levels of imports in 2021, together comprising 93% of total imports.

Among the main importing countries, Denmark, with a CAGR of -0.5%, 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 a decline in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, rising by 29% against the previous year. Overall, the import price, however, recorded a mild downturn. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Norway ($X per ton) and Denmark ($X per ton), while Finland ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform