South Africa: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in South Africa

In 2021, the South African synthetic latex rubber market increased by 64% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption showed buoyant growth. Synthetic latex rubber consumption peaked in 2021 and is expected to retain growth in the immediate term.

Synthetic Latex Rubber Exports

Exports from South Africa

In 2021, the amount of synthetic latex rubber exported from South Africa skyrocketed to X tons, with an increase of 59% against 2020 figures. Overall, total exports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -15.8% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of 127% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, synthetic latex rubber exports skyrocketed to $X in 2021. In general, exports continue to indicate mild growth. The growth pace was the most rapid in 2014 when exports increased by 114% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Zimbabwe (X tons), Mauritius (X tons) and Zambia (X tons) were the main destinations of synthetic latex rubber exports from South Africa, together comprising 55% of total exports. These countries were followed by Namibia, the UK, Australia and Mozambique, which together accounted for a further 40%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +431.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic latex rubber exported from South Africa were Zimbabwe ($X), Mauritius ($X) and the UK ($X), with a combined 52% share of total exports.

The UK, with a CAGR of +460.7%, saw 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 latex rubber export price stood at $X per ton in 2021, surging by 30% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mozambique ($X per ton), while the average price for exports to Namibia ($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 Australia (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Latex Rubber Imports

Imports into South Africa

In 2021, supplies from abroad of synthetic latex rubber increased by 30% to X tons, rising for the second year in a row after two years of decline. In general, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 117% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, synthetic latex rubber imports soared to $X in 2021. Overall, imports posted a prominent increase. The growth pace was the most rapid in 2020 with an increase of 148% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons) constituted the largest synthetic latex rubber supplier to South Africa, accounting for a 64% share of total imports. Moreover, synthetic latex rubber imports from South Korea exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. The third position in this ranking was held by Germany (X tons), with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea stood at +82.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+12.9% per year) and Germany (-9.9% per year).

In value terms, South Korea ($X) constituted the largest supplier of synthetic latex rubber to South Africa, comprising 73% of total imports. The second position in the ranking was taken by China ($X), with an 8.7% share of total imports. It was followed by the Netherlands, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea amounted to +84.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.4% per year) and the Netherlands (+6.9% per year).

Import Prices by Country

In 2021, the average synthetic latex rubber import price amounted to $X per ton, picking up by 37% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Netherlands ($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 (+9.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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