Ukraine: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in Ukraine

In 2021, the Ukrainian synthetic rubber (excluding latex) market increased by 46% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, continues to indicate a slight shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Synthetic Rubber (Excluding Latex)

Exports from Ukraine

In 2021, shipments abroad of synthetic rubber (excluding latex) decreased by -11.7% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by 3,386% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, synthetic rubber (excluding latex) exports fell modestly to $X in 2021. Overall, exports, however, continue to indicate mild growth. The most prominent rate of growth was recorded in 2017 when exports increased by 1,855% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belarus (X tons) was the main destination for synthetic rubber (excluding latex) exports from Ukraine, accounting for a 73% share of total exports. Moreover, synthetic rubber (excluding latex) exports to Belarus exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fourfold. The Czech Republic (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belarus totaled -10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (0.0% per year) and the Czech Republic (-28.9% per year).

In value terms, Belarus ($X) emerged as the key foreign market for synthetic rubber (excluding latex) exports from Ukraine, comprising 72% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 21% share of total exports. It was followed by the Czech Republic, with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belarus stood at -14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (0.0% per year) and the Czech Republic (-33.6% per year).

Export Prices by Country

The average synthetic rubber (excluding latex) export price stood at $X per ton in 2021, with an increase of 8.5% against the previous year. Over the period under review, the export price, however, saw a abrupt curtailment. The growth pace was the most rapid in 2018 an increase of 16% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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 Turkey ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+20.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Synthetic Rubber (Excluding Latex)

Imports into Ukraine

In 2021, overseas purchases of synthetic rubber (excluding latex) increased by 21% to X tons, rising for the second consecutive year after two years of decline. Overall, total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +52.5% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 49%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, synthetic rubber (excluding latex) imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a noticeable slump. The pace of growth was the most pronounced in 2016 with an increase of 67%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of synthetic rubber (excluding latex) to Ukraine, with a 69% share of total imports. Moreover, synthetic rubber (excluding latex) imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was held by China (X tons), with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+21.5% per year) and China (+28.3% per year).

In value terms, Russia ($X) constituted the largest supplier of synthetic rubber (excluding latex) to Ukraine, comprising 59% of total imports. The second position in the ranking was taken by Germany ($X), with a 21% share of total imports. It was followed by Spain, with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia stood at -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+16.5% per year) and Spain (+31.7% per year).

Import Prices by Country

In 2021, the average synthetic rubber (excluding latex) import price amounted to $X per ton, jumping by 34% against the previous year. Overall, the import price, however, continues to indicate a abrupt slump. The growth pace was the most rapid in 2017 when the average import price increased by 35%. 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 Spain ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform