Uzbekistan: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Uzbekistan

The Uzbek synthetic rubber market fell modestly to $X in 2021, almost unchanged from 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). Overall, consumption, however, saw a buoyant expansion. 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.

Synthetic Rubber Exports

Exports from Uzbekistan

In 2021, approx. X tons of synthetic rubber were exported from Uzbekistan; picking up by 147% on 2020. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 188%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, synthetic rubber exports surged to $X in 2021. Over the period under review, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Tajikistan (X tons) was the main destination for synthetic rubber exports from Uzbekistan, accounting for a 60% share of total exports. Moreover, synthetic rubber exports to Tajikistan exceeded the volume sent to the second major destination, Turkmenistan (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Tajikistan amounted to +34.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkmenistan (+7.8% per year) and Kazakhstan (0.0% per year).

In value terms, Tajikistan ($X) remains the key foreign market for synthetic rubber exports from Uzbekistan, comprising 60% of total exports. The second position in the ranking was held by Turkmenistan ($X), with a 30% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Tajikistan stood at +44.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkmenistan (+9.3% per year) and Kazakhstan (0.0% per year).

Export Prices by Country

In 2021, the average synthetic rubber export price amounted to $X per ton, with an increase of 92% against the previous year. Overall, the export price recorded buoyant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Tajikistan ($X per ton), while the average price for exports to Kazakhstan ($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 Tajikistan (+7.9%).

Synthetic Rubber Imports

Imports into Uzbekistan

In 2021, the amount of synthetic rubber imported into Uzbekistan shrank significantly to X tons, declining by -22% compared with 2020. Overall, total imports indicated a remarkable increase from 2017 to 2021: its volume increased at an average annual rate of +7.6% over the last four years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 53%. Imports peaked at X tons in 2020, and then dropped sharply in the following year.

In value terms, synthetic rubber imports soared to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2017 to 2021: its value increased at an average annual rate of +11.8% over the last four-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +3.7% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 51% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

Russia (X tons), Belgium (X tons) and Turkey (X tons) were the main suppliers of synthetic rubber imports to Uzbekistan, together comprising 80% of total imports. China, Estonia, Sweden and Italy lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +26.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Belgium ($X) and China ($X) were the largest synthetic rubber suppliers to Uzbekistan, together accounting for 78% of total imports. Turkey, Sweden, Estonia and Italy lagged somewhat behind, together comprising a further 17%.

Italy, with a CAGR of +22.3%, 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, increasing by 49% against the previous year. In general, the import price recorded a perceptible increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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