Spain: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in Spain

In 2021, the Spanish market for isoprene rubber (IR) in primary forms was finally on the rise to reach $X after three years of decline. In general, consumption, however, recorded a abrupt setback. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports from Spain

In 2021, approx. X tons of isoprene rubber (IR) in primary forms were exported from Spain; approximately reflecting 2020. Overall, exports saw a precipitous decrease. The growth pace was the most rapid in 2019 with an increase of 38%. Over the period under review, the exports of hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of isoprene rubber (IR) in primary forms skyrocketed to $X in 2021. Over the period under review, exports saw a precipitous decrease. The most prominent rate of growth was recorded in 2017 with an increase of 41% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Portugal (X tons), Tunisia (X tons) and Algeria (X tons) were the main destinations of exports of isoprene rubber (IR) in primary forms from Spain, together comprising 59% of total exports.

From 2012 to 2021, the biggest increases were recorded for Tunisia (with a CAGR of +415.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for isoprene rubber (IR) in primary form exported from Spain were Morocco ($X), Tunisia ($X) and Portugal ($X), with a combined 57% share of total exports. Algeria, the Czech Republic, Turkey, Italy, France, the United Arab Emirates and Germany lagged somewhat behind, together accounting for a further 39%.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +284.3%, 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 export price for isoprene rubber (IR) in primary forms amounted to $X per ton, increasing by 23% against the previous year. Over the period under review, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 an increase of 62%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Turkey ($X per ton), while the average price for exports to Portugal ($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 Germany (+0.2%), while the prices for the other major destinations experienced a decline.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports into Spain

In 2021, purchases abroad of isoprene rubber (IR) in primary forms was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, showed a pronounced reduction. The pace of growth appeared the most rapid in 2013 with an increase of 53%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of isoprene rubber (IR) in primary forms surged to $X in 2021. Overall, imports, however, recorded a deep setback. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Russia (X tons), Germany (X tons) and Hungary (X tons) were the main suppliers of imports of isoprene rubber (IR) in primary forms to Spain, together comprising 92% of total imports. Portugal, Poland and Austria lagged somewhat behind, together comprising a further 5.6%.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +29.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constituted the largest supplier of isoprene rubber (IR) in primary forms to Spain, comprising 55% of total imports. The second position in the ranking was taken by Hungary ($X), with a 15% share of total imports. It was followed by Germany, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia stood at -11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (-11.2% per year) and Germany (+8.6% per year).

Import Prices by Country

In 2021, the average import price for isoprene rubber (IR) in primary forms amounted to $X per ton, increasing by 25% against the previous year. In general, the import price, however, continues to indicate a abrupt decrease. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Portugal ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform