U.S.: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in the U.S.

In 2021, the U.S. synthetic latex rubber market decreased by -0.2% to $X for the first time since 2014, thus ending a six-year rising trend. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +95.5% against 2012 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then dropped in the following year.

Synthetic Latex Rubber Production in the U.S.

In value terms, synthetic latex rubber production dropped to $X in 2021. In general, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +71.0% against 2012 indices. The pace of growth appeared the most rapid in 2018 with an increase of 14%. Over the period under review, production reached the peak level at $X in 2020, and then contracted slightly in the following year.

Synthetic Latex Rubber Exports

Exports from the U.S.

In 2021, overseas shipments of synthetic latex rubber decreased by -2.5% to X tons, falling for the fourth consecutive year after two years of growth. Overall, exports recorded a noticeable reduction. The pace of growth was the most pronounced in 2017 when exports increased by 8.5%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, synthetic latex rubber exports rose notably to $X in 2021. In general, exports continue to indicate a pronounced curtailment. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for synthetic latex rubber exports from the United States, accounting for a 55% share of total exports. Moreover, synthetic latex rubber exports to Canada exceeded the volume sent to the second major destination, China (X tons), sixfold. Mexico (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume to Canada totaled -5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+2.2% per year) and Mexico (-3.6% per year).

In value terms, Canada ($X) remains the key foreign market for synthetic latex rubber exports from the United States, comprising 33% of total exports. The second position in the ranking was taken by Mexico ($X), with a 13% share of total exports. It was followed by China, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value to Canada stood at -5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-4.2% per year) and China (-0.9% per year).

Export Prices by Country

The average synthetic latex rubber export price stood at $X per ton in 2021, with an increase of 12% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

Synthetic Latex Rubber Imports

Imports into the U.S.

After two years of decline, overseas purchases of synthetic latex rubber increased by 84% to X tons in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic latex rubber imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Japan (X tons) and South Korea (X tons) were the main suppliers of synthetic latex rubber imports to the United States, with a combined 74% share of total imports. France, Brazil, Italy, Taiwan (Chinese), Malaysia and China lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +41.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic latex rubber suppliers to the United States were Germany ($X), Japan ($X) and South Korea ($X), together accounting for 74% of total imports. These countries were followed by France, Brazil, Italy, Taiwan (Chinese), Malaysia and China, which together accounted for a further 22%.

Among the main suppliers, France, with a CAGR of +30.9%, recorded the highest rates of growth with regard to the value of imports, 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 latex rubber import price amounted to $X per ton, rising by 7.3% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible descent. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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