U.S.: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in the U.S.

In 2021, the U.S. synthetic rubber (excluding latex) market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, showed a abrupt descent. Synthetic rubber (excluding latex) consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Synthetic Rubber (Excluding Latex) in the U.S.

In value terms, synthetic rubber (excluding latex) production expanded notably to $X in 2021. Overall, production, however, saw a deep reduction. Synthetic rubber (excluding latex) production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Synthetic Rubber (Excluding Latex)

Exports from the U.S.

In 2021, overseas shipments of synthetic rubber (excluding latex) were finally on the rise to reach X tons after three years of decline. In general, exports, however, showed a noticeable decline. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, synthetic rubber (excluding latex) exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt curtailment. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tons), Canada (X tons) and Belgium (X tons) were the main destinations of synthetic rubber (excluding latex) exports from the United States, together comprising 42% of total exports. These countries were followed by Brazil, Singapore, China, the Netherlands, the UK, India, Thailand, Japan, Taiwan (Chinese) and South Korea, which together accounted for a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of +17.0%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Canada ($X) and Belgium ($X) constituted the largest markets for synthetic rubber (excluding latex) exported from the United States worldwide, together accounting for 40% of total exports. Brazil, China, Singapore, the Netherlands, Japan, India, Thailand, the UK, South Korea and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 41%.

Singapore, with a CAGR of +13.3%, recorded the highest growth rate of the value of exports, among 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

In 2021, the average synthetic rubber (excluding latex) export price amounted to $X per ton, with an increase of 29% against the previous year. In general, the export price, however, recorded a perceptible curtailment. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Singapore ($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 the Netherlands (+5.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Synthetic Rubber (Excluding Latex)

Imports into the U.S.

In 2021, approx. X tons of synthetic rubber (excluding latex) were imported into the United States; increasing by 9.7% compared with the previous year's figure. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 22% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, synthetic rubber (excluding latex) imports skyrocketed to $X in 2021. Overall, imports, however, showed a perceptible downturn. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

South Korea (X tons), Japan (X tons) and Russia (X tons) were the main suppliers of synthetic rubber (excluding latex) imports to the United States, together comprising 35% of total imports. Germany, Mexico, France, Canada, Taiwan (Chinese), Spain, the Czech Republic, Belgium, the Netherlands and Italy lagged somewhat behind, together accounting for a further 52%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +49.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber (excluding latex) suppliers to the United States were South Korea ($X), Japan ($X) and Germany ($X), together accounting for 37% of total imports. These countries were followed by Mexico, France, Russia, Taiwan (Chinese), Canada, Spain, Belgium, the Czech Republic, Italy and the Netherlands, which together accounted for a further 51%.

Among the main suppliers, the Czech Republic, with a CAGR of +41.4%, recorded the highest growth rate of 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 rubber (excluding latex) import price amounted to $X per ton, jumping by 20% against the previous year. Overall, the import price, however, recorded a abrupt descent. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and Italy ($X per ton), while the price for the Netherlands ($X per ton) and the Czech Republic ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform