South-Eastern Asia: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in South-Eastern Asia

In 2021, the Southeast Asian market for isoprene rubber (IR) in primary forms increased by 15% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Isoprene Rubber (IR) in Primary Forms in South-Eastern Asia

In value terms, production of isoprene rubber (IR) in primary forms stood at $X in 2021 estimated in export price. The total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.2% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 47% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production of growth remained at a somewhat lower figure.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports in South-Eastern Asia

In 2021, shipments abroad of isoprene rubber (IR) in primary forms decreased by -6.3% to X tons, falling for the second year in a row after three years of growth. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 28% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of isoprene rubber (IR) in primary forms soared to $X in 2021. Over the period under review, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 93% against the previous year. Over the period under review, the exports of hit record highs in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Malaysia (X tons) and Thailand (X tons) prevails in forms structure, together committing 89% of total exports. It was distantly followed by Singapore (X tons), achieving an 8.2% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +24.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest isoprene rubber (IR) in primary form supplying countries in South-Eastern Asia were Malaysia ($X), Thailand ($X) and Singapore ($X), with a combined 99% share of total exports.

Thailand, with a CAGR of +35.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, picking up by 27% against the previous year. Overall, the export price enjoyed buoyant growth. The growth pace was the most rapid in 2019 an increase of 56% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+13.1%), while the other leaders experienced more modest paces of growth.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports in South-Eastern Asia

In 2021, imports of isoprene rubber (ir) in primary forms in South-Eastern Asia dropped to X tons, which is down by -8.4% on 2020 figures. Over the period under review, imports saw a pronounced slump. The pace of growth appeared the most rapid in 2015 when imports increased by 21%. Over the period under review, imports of hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, imports of isoprene rubber (IR) in primary forms skyrocketed to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia was the largest importing country with an import of around X tons, which resulted at 47% of total imports. Thailand (X tons) took a 24% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (18%) and Indonesia (10%).

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +11.9%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest isoprene rubber (IR) in primary form importing markets in South-Eastern Asia were Malaysia ($X), Thailand ($X) and Vietnam ($X), with a combined 90% share of total imports.

Among the main importing countries, Vietnam, with a CAGR of +6.7%, recorded the highest growth rate of 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 import price in South-Eastern Asia amounted to $X per ton, increasing by 35% against the previous year. Import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for isoprene rubber (IR) in primary forms increased by +80.5% against 2015 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform