United Kingdom: Market for Synthetic Rubber (Excluding Latex) 2024

Market Size for Synthetic Rubber (Excluding Latex) in the UK

The UK synthetic rubber (excluding latex) market was finally on the rise to reach $X in 2021, after two years of decline. In general, the total consumption indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Synthetic Rubber (Excluding Latex) in the UK

In value terms, synthetic rubber (excluding latex) production expanded slightly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 when the production volume increased by 124% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Synthetic Rubber (Excluding Latex)

Exports from the UK

In 2021, exports of synthetic rubber (excluding latex) from the UK reached X tons, growing by 13% against the previous year's figure. Overall, exports, however, saw a abrupt decline. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, synthetic rubber (excluding latex) exports soared to $X in 2021. Over the period under review, exports, however, recorded a deep downturn. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Germany (X tons) and France (X tons) were the main destinations of synthetic rubber (excluding latex) exports from the UK, with a combined 47% share of total exports. These countries were followed by China, Poland, Spain, Belgium, India, Brazil, Australia, Russia, Italy and Hungary, which together accounted for a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +6.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and France ($X) constituted the largest markets for synthetic rubber (excluding latex) exported from the UK worldwide, together comprising 43% of total exports. These countries were followed by China, Poland, Spain, Brazil, Belgium, Australia, India, Italy, Russia and Hungary, which together accounted for a further 37%.

In terms of the main countries of destination, Australia, with a CAGR of +6.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average synthetic rubber (excluding latex) export price stood at $X per ton in 2021, increasing by 23% against the previous year. In general, the export price, however, saw a perceptible shrinkage. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to China ($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 Brazil (+2.5%), while the prices for the other major destinations experienced a decline.

Imports of Synthetic Rubber (Excluding Latex)

Imports into the UK

In 2021, purchases abroad of synthetic rubber (excluding latex) increased by 24% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, showed a relatively flat trend pattern. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, synthetic rubber (excluding latex) imports surged to $X in 2021. In general, imports, however, recorded a perceptible setback. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest synthetic rubber (excluding latex) supplier to the UK, accounting for a 29% share of total imports. Moreover, synthetic rubber (excluding latex) imports from the United States exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The third position in this ranking was taken by Italy (X tons), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+6.4% per year) and Italy (+5.2% per year).

In value terms, the largest synthetic rubber (excluding latex) suppliers to the UK were the United States ($X), Belgium ($X) and Germany ($X), with a combined 51% share of total imports. The Netherlands, Italy, South Korea, France, Russia, Spain and Poland lagged somewhat behind, together comprising a further 36%.

South Korea, with a CAGR of +5.9%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average synthetic rubber (excluding latex) import price stood at $X per ton in 2021, jumping by 21% against the previous year. Over the period under review, the import price, however, saw a noticeable reduction. Over the period under review, average import prices attained the maximum 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 France ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform