South-Eastern Asia: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in South-Eastern Asia

In 2021, the Southeast Asian synthetic latex rubber market increased by 65% to $X, rising for the fifth year in a row after four years of decline. Over the period under review, consumption posted a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Synthetic Latex Rubber Production in South-Eastern Asia

In value terms, synthetic latex rubber production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep contraction. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Synthetic Latex Rubber Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of synthetic latex rubber increased by 53% to X tons, rising for the second year in a row after two years of decline. Overall, exports enjoyed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, synthetic latex rubber exports soared to $X in 2021. In general, exports enjoyed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X tons) and Thailand (X tons) were the main exporters of synthetic latex rubber in 2021, amounting to near 51% and 34% of total exports, respectively. It was distantly followed by Indonesia (X tons), generating a 14% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +21.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) remains the largest synthetic latex rubber supplier in South-Eastern Asia, comprising 64% of total exports. The second position in the ranking was taken by Thailand ($X), with a 27% share of total exports.

In Malaysia, synthetic latex rubber exports expanded at an average annual rate of +9.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+16.2% per year) and Indonesia (+2.7% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, surging by 36% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Indonesia ($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 (+2.5%), while the other leaders experienced a decline in the export price figures.

Synthetic Latex Rubber Imports

Imports in South-Eastern Asia

In 2021, approx. X tons of synthetic latex rubber were imported in South-Eastern Asia; jumping by 39% compared with the previous year's figure. Over the period under review, imports continue to indicate a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, synthetic latex rubber imports surged to $X in 2021. Overall, imports enjoyed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia was the major importing country with an import of around X tons, which resulted at 69% of total imports. Thailand (X tons) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (5.4%). Indonesia (X tons) took a minor share of total imports.

Imports into Malaysia increased at an average annual rate of +16.3% from 2012 to 2021. At the same time, Vietnam (+23.2%), Thailand (+11.4%) and Indonesia (+8.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +23.2% from 2012-2021. While the share of Malaysia (+8 p.p.) and Vietnam (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-3 p.p.) and Thailand (-6.3 p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) constitutes the largest market for imported synthetic latex rubber in South-Eastern Asia, comprising 69% of total imports. The second position in the ranking was held by Thailand ($X), with a 17% share of total imports. It was followed by Vietnam, with a 7% share.

In Malaysia, synthetic latex rubber imports increased at an average annual rate of +17.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+9.9% per year) and Vietnam (+22.8% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, rising by 43% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :