South Africa: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in South Africa

In 2021, after two years of growth, there was decline in the South African synthetic rubber (excluding latex) market, when its value decreased by -0.6% to $X. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Synthetic Rubber (Excluding Latex) in South Africa

In value terms, synthetic rubber (excluding latex) production fell to $X in 2021 estimated in export price. In general, production, however, recorded a noticeable decline. The growth pace was the most rapid in 2020 with an increase of 18% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Synthetic Rubber (Excluding Latex)

Exports from South Africa

In 2021, shipments abroad of synthetic rubber (excluding latex) increased by 173% to X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, continue to indicate a dramatic downturn. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, synthetic rubber (excluding latex) exports soared to $X in 2021. In general, exports, however, showed a dramatic decrease. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons), Zimbabwe (X tons) and Turkey (X tons) were the main destinations of synthetic rubber (excluding latex) exports from South Africa, with a combined 47% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +76.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic rubber (excluding latex) exported from South Africa were the Netherlands ($X), Zimbabwe ($X) and Turkey ($X), together accounting for 43% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +51.9%, 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 (excluding latex) export price amounted to $X per ton, reducing by -54.9% against the previous year. Over the period under review, the export price continues to indicate a abrupt decline. The growth pace was the most rapid in 2020 when the average export price increased by 64%. As a result, the export price reached the peak level of $X per ton, and then reduced remarkably in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Namibia ($X per ton), while the average price for exports to Australia ($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 Namibia (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Synthetic Rubber (Excluding Latex)

Imports into South Africa

In 2021, imports of synthetic rubber (excluding latex) into South Africa surged to X tons, with an increase of 35% against 2020 figures. Over the period under review, imports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 48% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, synthetic rubber (excluding latex) imports soared to $X in 2021. Overall, total imports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons), Italy (X tons) and the Czech Republic (X tons) were the main suppliers of synthetic rubber (excluding latex) imports to South Africa, together accounting for 43% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +153.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber (excluding latex) suppliers to South Africa were Poland ($X), Italy ($X) and Germany ($X), with a combined 39% share of total imports. These countries were followed by the UK, the Czech Republic, Japan, China, Taiwan (Chinese), Russia, South Korea and the United States, which together accounted for a further 47%.

The Czech Republic, with a CAGR of +134.2%, 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 synthetic rubber (excluding latex) import price stood at $X per ton in 2021, with an increase of 28% against the previous year. Overall, the import price, however, recorded a drastic downturn. 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 Japan ($X per ton), while the price for the Czech Republic ($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 (-3.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform