United Kingdom: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in the UK

The UK market for isoprene rubber (IR) in primary forms surged to $X in 2021, picking up by 45% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a noticeable setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports from the UK

In 2021, overseas shipments of isoprene rubber (IR) in primary forms decreased by -50.1% to X tons for the first time since 2015, thus ending a five-year rising trend. Over the period under review, exports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 162% against the previous year. The exports peaked at X tons in 2020, and then contracted dramatically in the following year.

In value terms, exports of isoprene rubber (IR) in primary forms rose notably to $X in 2021. In general, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 95%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

France (X tons) was the main destination for exports of isoprene rubber (IR) in primary forms from the UK, with a 53% share of total exports. Moreover, exports of isoprene rubber (IR) in primary forms to France exceeded the volume sent to the second major destination, Germany (X tons), fourfold. Ireland (X tons) ranked third in terms of total exports with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume to France stood at +18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+38.5% per year) and Ireland (+46.5% per year).

In value terms, the largest markets for isoprene rubber (IR) in primary form exported from the UK were Germany ($X), Sweden ($X) and Canada ($X), together comprising 53% of total exports.

Canada, with a CAGR of +118.3%, saw 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

The average export price for isoprene rubber (IR) in primary forms stood at $X per ton in 2021, rising by 111% against the previous year. In general, the export price showed a slight expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Sweden ($X per ton), while the average price for exports to France ($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 (+55.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports into the UK

In 2021, approx. X tons of isoprene rubber (IR) in primary forms were imported into the UK; surging by 30% compared with the year before. Over the period under review, imports, however, recorded a pronounced contraction. The pace of growth was the most pronounced in 2020 with an increase of 61%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of isoprene rubber (IR) in primary forms surged to $X in 2021. In general, imports, however, continue to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2014 when imports increased by 36%. Over the period under review, imports of attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest isoprene rubber (IR) in primary form supplier to the UK, with a 42% share of total imports. Moreover, imports of isoprene rubber (IR) in primary forms from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Russia amounted to -5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.5% per year) and Japan (+0.9% per year).

In value terms, the largest isoprene rubber (IR) in primary form suppliers to the UK were Russia ($X), Japan ($X) and Germany ($X), together comprising 57% of total imports. These countries were followed by the United States, the Netherlands, France and Italy, which together accounted for a further 33%.

In terms of the main suppliers, the Netherlands, with a CAGR of +28.2%, saw 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

The average import price for isoprene rubber (IR) in primary forms stood at $X per ton in 2021, waning by -10.9% against the previous year. Overall, the import price showed a slight downturn. The pace of growth was the most pronounced in 2019 when the average import price increased by 21%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Italy ($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 (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform