Serbia: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Serbia

The Serbian unvulcanized rubber market skyrocketed to $X in 2022, growing by 89% against the previous year. Over the period under review, consumption showed a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Unvulcanized Rubber Production in Serbia

In value terms, unvulcanized rubber production surged to $X in 2022 estimated in export price. Over the period under review, production showed prominent growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 62%. Over the period under review, production reached the maximum level in 2022 and is expected to retain growth in years to come.

Unvulcanized Rubber Exports

Exports from Serbia

In 2022, approx. X tons of unvulcanized rubber and articles thereof were exported from Serbia; growing by 34% on 2021. Over the period under review, exports posted a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 104% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, unvulcanized rubber exports soared to $X in 2022. In general, exports enjoyed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for unvulcanized rubber exports from Serbia, with a 45% share of total exports. Moreover, unvulcanized rubber exports to Turkey exceeded the volume sent to the second major destination, Russia (X tons), twofold. The United Arab Emirates (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey stood at +32.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+4.8% per year) and the United Arab Emirates (0.0% per year).

In value terms, Russia ($X) remains the key foreign market for unvulcanized rubber and articles thereof exports from Serbia, comprising 39% of total exports. The second position in the ranking was taken by Turkey ($X), with a 15% share of total exports. It was followed by the United Arab Emirates, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+16.6% per year) and the United Arab Emirates (0.0% per year).

Export Prices by Country

The average unvulcanized rubber export price stood at $X per ton in 2022, with an increase of 21% against the previous year. Over the period under review, the export price, however, saw a pronounced downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 46% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Unvulcanized Rubber Imports

Imports into Serbia

Unvulcanized rubber imports into Serbia surged to X tons in 2022, rising by 69% on the previous year's figure. In general, imports recorded a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, unvulcanized rubber imports skyrocketed to $X in 2022. Over the period under review, imports showed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of unvulcanized rubber imports to Serbia, together accounting for 51% of total imports. Spain, Bulgaria, the Czech Republic, France, Slovenia, the UK and the Netherlands lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +56.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest unvulcanized rubber suppliers to Serbia were Italy ($X), Germany ($X) and Bulgaria ($X), with a combined 56% share of total imports.

Bulgaria, with a CAGR of +54.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average unvulcanized rubber import price stood at $X per ton in 2022, rising by 11% against the previous year. Over the period under review, the import price, however, showed a mild descent. The pace of growth appeared the most rapid in 2021 an increase of 14%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform