Southern Asia: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Southern Asia

The South Asian unvulcanized rubber market expanded markedly to $X in 2022, increasing by 8.2% against the previous year. The total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +25.7% against 2020 indices. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Unvulcanized Rubber Production in Southern Asia

In value terms, unvulcanized rubber production contracted modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a modest increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 16%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Unvulcanized Rubber Exports

Exports in Southern Asia

Unvulcanized rubber exports contracted slightly to X tons in 2022, shrinking by -1.7% compared with the previous year's figure. Total exports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +28.8% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 86%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, unvulcanized rubber exports dropped slightly to $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +33.2% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 34%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

India dominates exports structure, amounting to X tons, which was approx. 90% of total exports in 2022. It was distantly followed by Sri Lanka (X tons), achieving a 9.4% share of total exports.

India was also the fastest-growing in terms of the unvulcanized rubber and articles thereof exports, with a CAGR of +6.6% from 2012 to 2022. Sri Lanka (-10.1%) illustrated a downward trend over the same period. While the share of India (+27 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sri Lanka (-26.8 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest unvulcanized rubber supplier in Southern Asia, comprising 90% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 10% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +4.8%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, picking up by 1.5% against the previous year. In general, the export price, however, showed a mild contraction. The pace of growth appeared the most rapid in 2015 when the export price increased by 25%. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while India amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+0.2%).

Unvulcanized Rubber Imports

Imports in Southern Asia

Unvulcanized rubber imports stood at X tons in 2022, increasing by 13% on the previous year's figure. Overall, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 26%. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, unvulcanized rubber imports totaled $X in 2022. Over the period under review, imports enjoyed strong growth. The pace of growth was the most pronounced in 2021 when imports increased by 38%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

India prevails in imports structure, resulting at X tons, which was approx. 78% of total imports in 2022. Bangladesh (X tons) held the second position in the ranking, followed by Sri Lanka (X tons) and Pakistan (X tons). All these countries together held approx. 21% share of total imports.

India was also the fastest-growing in terms of the unvulcanized rubber and articles thereof imports, with a CAGR of +13.6% from 2012 to 2022. At the same time, Pakistan (+11.2%), Bangladesh (+8.8%) and Sri Lanka (+8.3%) displayed positive paces of growth. While the share of India (+8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Bangladesh (-3.1 p.p.) and Sri Lanka (-3.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported unvulcanized rubber and articles thereof in Southern Asia, comprising 75% of total imports. The second position in the ranking was taken by Bangladesh ($X), with an 11% share of total imports. It was followed by Sri Lanka, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +11.1%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+6.7% per year) and Sri Lanka (+4.7% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, standing approx. at the previous year. Overall, the import price showed a noticeable contraction. The most prominent rate of growth was recorded in 2021 when the import price increased by 9.4%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (-1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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