U.S.: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in the U.S.

The U.S. synthetic rubber market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, recorded a mild slump. Synthetic rubber consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Synthetic Rubber Production in the U.S.

In value terms, synthetic rubber production surged to $X in 2021. Overall, production, however, continues to indicate a noticeable curtailment. Synthetic rubber production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Synthetic Rubber Exports

Exports from the U.S.

After four years of decline, overseas shipments of synthetic rubber increased by 4% to X tons in 2021. Over the period under review, exports, however, saw a noticeable contraction. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, synthetic rubber exports soared to $X in 2021. In general, exports, however, saw a deep contraction. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons), Mexico (X tons) and Belgium (X tons) were the main destinations of synthetic rubber exports from the United States, together comprising 45% of total exports. Brazil, Singapore, China, India, the Netherlands, the UK, Thailand, Japan, Taiwan (Chinese) and Turkey lagged somewhat behind, together comprising a further 36%.

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 +16.9%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Canada ($X) and Belgium ($X) were the largest markets for synthetic rubber exported from the United States worldwide, with a combined 41% share of total exports. Brazil, China, Singapore, the Netherlands, Japan, India, Thailand, the UK, Taiwan (Chinese) and Turkey lagged somewhat behind, together accounting for a further 38%.

Among the main countries of destination, Singapore, with a CAGR of +13.1%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the average synthetic rubber export price amounted to $X per ton, increasing by 28% against the previous year. Overall, the export price, however, recorded a perceptible descent. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Turkey ($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.

Synthetic Rubber Imports

Imports into the U.S.

In 2021, synthetic rubber imports into the United States was estimated at X tons, increasing by 14% compared with the previous year. The total import volume increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2014 when imports increased by 20% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, synthetic rubber imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced contraction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

South Korea (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of synthetic rubber imports to the United States, with a combined 39% share of total imports. Russia, Mexico, France, Taiwan (Chinese), Canada, Spain, the Czech Republic, Belgium, Brazil and Italy lagged somewhat behind, together comprising a further 49%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +49.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber suppliers to the United States were South Korea ($X), Japan ($X) and Germany ($X), with a combined 40% share of total imports. These countries were followed by Mexico, France, Russia, Taiwan (Chinese), Canada, Spain, Belgium, Italy, Brazil and the Czech Republic, which together accounted for a further 49%.

The Czech Republic, with a CAGR of +41.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers 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 import price amounted to $X per ton, picking up by 19% against the previous year. Over the period under review, the import price, however, continues to indicate a deep slump. The import price peaked 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 Italy ($X per ton) and Japan ($X per ton), while the price for the Czech Republic ($X per ton) and Russia ($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

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