Spain: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Spain

After two years of decline, the Spanish synthetic rubber (excluding latex) market increased by 24% to $X in 2021. Over the period under review, consumption, however, continues to indicate a abrupt slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Synthetic Rubber (Excluding Latex) in Spain

In value terms, synthetic rubber (excluding latex) production surged to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. Over the period under review, production reached 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 Spain

In 2021, approx. X tons of synthetic rubber (excluding latex) were exported from Spain; surging by 14% on 2020. The total export volume increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic rubber (excluding latex) exports soared to $X in 2021. Over the period under review, exports, however, showed a mild curtailment. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

France (X tons), Germany (X tons) and the United States (X tons) were the main destinations of synthetic rubber (excluding latex) exports from Spain, together accounting for 50% of total exports. Italy, Portugal, Belgium, the Netherlands, Poland, the UK, Sweden, Morocco, Turkey and Algeria lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Algeria (with a CAGR of +33.4%), 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 Spain were France ($X), Germany ($X) and the United States ($X), together comprising 49% of total exports. These countries were followed by Italy, Portugal, Belgium, the Netherlands, Poland, the UK, Sweden, Turkey, Morocco and Algeria, which together accounted for a further 37%.

Algeria, with a CAGR of +21.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average synthetic rubber (excluding latex) export price stood at $X per ton in 2021, surging by 32% against the previous year. In general, the export price, however, recorded a perceptible shrinkage. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Algeria ($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 Belgium (-1.6%), while the prices for the other major destinations experienced a decline.

Imports of Synthetic Rubber (Excluding Latex)

Imports into Spain

In 2021, imports of synthetic rubber (excluding latex) into Spain rose notably to X tons, increasing by 13% on the year before. Over the period under review, imports, however, recorded a mild slump. The most prominent rate of growth was recorded in 2019 with an increase of 17% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, synthetic rubber (excluding latex) imports surged to $X in 2021. Overall, imports, however, recorded a deep downturn. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

France (X tons), Russia (X tons) and Italy (X tons) were the main suppliers of synthetic rubber (excluding latex) imports to Spain, together accounting for 45% of total imports. Indonesia, Belgium, South Korea, Germany, Mexico, the United States, the Netherlands, the Czech Republic, Hungary and Japan lagged somewhat behind, together comprising a further 47%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +266.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber (excluding latex) suppliers to Spain were France ($X), Russia ($X) and Italy ($X), together comprising 42% of total imports. These countries were followed by Belgium, Indonesia, Germany, the United States, South Korea, Mexico, the Netherlands, Japan, Hungary and the Czech Republic, which together accounted for a further 49%.

Indonesia, with a CAGR of +174.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average synthetic rubber (excluding latex) import price amounted to $X per ton, growing by 23% against the previous year. Overall, the import price, however, continues to indicate a noticeable setback. 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 Germany ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform