Spain: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Spain

The Spanish synthetic rubber market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption, however, showed a abrupt decrease. Synthetic rubber consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Synthetic Rubber Production in Spain

In value terms, synthetic rubber production surged to $X in 2021 estimated in export price. In general, production continues to indicate a pronounced decline. The pace of growth appeared the most rapid in 2017 when the production volume increased by 19%. Synthetic rubber production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Synthetic Rubber Exports

Exports from Spain

In 2021, exports of synthetic rubber from Spain soared to X tons, picking up by 16% against 2020. The total export volume increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic rubber exports soared to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons), France (X tons) and the United States (X tons) were the main destinations of synthetic rubber exports from Spain, together comprising 51% of total exports. These countries were followed by Italy, Portugal, Belgium, Poland, the Netherlands, Morocco, Turkey, Sweden, the UK and Algeria, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for Algeria (with a CAGR of +32.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic rubber exported from Spain were Germany ($X), France ($X) and the United States ($X), with a combined 50% share of total exports. Italy, Portugal, Belgium, Poland, the Netherlands, Sweden, the UK, Turkey, Morocco and Algeria lagged somewhat behind, together accounting for a further 36%.

Among the main countries of destination, Algeria, with a CAGR of +23.1%, recorded the highest growth rate of 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 synthetic rubber export price amounted to $X per ton, growing by 30% against the previous year. Overall, the export price, however, saw a pronounced downturn. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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 Portugal (-0.7%), while the prices for the other major destinations experienced a decline.

Synthetic Rubber Imports

Imports into Spain

In 2021, synthetic rubber imports into Spain amounted to X tons, rising by 13% on the previous year's figure. In general, imports, however, showed a slight contraction. The pace of growth was the most pronounced in 2017 when imports increased by 13%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic rubber imports soared to $X in 2021. Overall, imports, however, continue to indicate a abrupt decline. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

France (X tons), Germany (X tons) and Russia (X tons) were the main suppliers of synthetic rubber imports to Spain, together accounting for 41% of total imports. The Netherlands, Italy, Belgium, Indonesia, South Korea, Mexico, the United States, the Czech Republic, Hungary and Japan lagged somewhat behind, together accounting for a further 51%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +202.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Russia ($X) appeared to be the largest synthetic rubber suppliers to Spain, with a combined 39% share of total imports. Italy, Belgium, the Netherlands, Indonesia, the United States, South Korea, Mexico, Japan, Hungary and the Czech Republic lagged somewhat behind, together comprising a further 51%.

Indonesia, with a CAGR of +173.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average synthetic rubber import price stood at $X per ton in 2021, with an increase of 25% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced decrease. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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