Global Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size

In 2021, the global synthetic latex rubber market increased by 5% to $X, rising for the sixth consecutive year after three years of decline. The market value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the market value increased by 8.4% against the previous year. Over the period under review, the global market hit record highs in 2021 and is likely to see steady growth in the near future.

Synthetic Latex Rubber Production

In value terms, synthetic latex rubber production reduced slightly to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 9.9%. Global production peaked at $X in 2020, and then declined slightly in the following year.

Synthetic Latex Rubber Exports

Exports

In 2021, global synthetic latex rubber exports amounted to X tons, increasing by 13% against 2020. In general, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +83.2% against 2012 indices. The most prominent rate of growth was recorded in 2020 with an increase of 13% against the previous year. Over the period under review, the global exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, synthetic latex rubber exports skyrocketed to $X in 2021. Over the period under review, exports saw strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, South Korea (X tons), distantly followed by Germany (X tons), Taiwan (Chinese) (X tons), China (X tons), the Netherlands (X tons) and Malaysia (X tons) represented the largest exporters of synthetic latex rubber, together constituting 76% of total exports. The following exporters - the United States (X tons), Thailand (X tons), Japan (X tons), Belgium (X tons) and Italy (X tons) - each accounted for a 16% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to synthetic latex rubber exports from South Korea stood at +12.0%. At the same time, China (+36.7%), Thailand (+21.4%), Italy (+10.4%), Taiwan (Chinese) (+9.5%), Japan (+7.2%), Malaysia (+6.6%) and the Netherlands (+4.3%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in the world, with a CAGR of +36.7% from 2012-2021. Germany experienced a relatively flat trend pattern. By contrast, Belgium (-1.7%) and the United States (-3.6%) illustrated a downward trend over the same period. While the share of South Korea (+9.8 p.p.), China (+9 p.p.), Taiwan (Chinese) (+2.5 p.p.) and Thailand (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Belgium (-3.4 p.p.), the United States (-5.3 p.p.) and Germany (-11.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and Germany ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 59% of global exports. Japan, China, Malaysia, the United States, Italy, the Netherlands, Thailand and Belgium lagged somewhat behind, together accounting for a further 35%.

In terms of the main exporting countries, China, with a CAGR of +33.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average synthetic latex rubber export price amounted to $X per ton, picking up by 46% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the Netherlands ($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) (+4.5%), while the other global leaders experienced more modest paces of growth.

Synthetic Latex Rubber Imports

Imports

Global synthetic latex rubber imports skyrocketed to X tons in 2021, increasing by 32% against the year before. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.2% 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 +102.6% against 2012 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, synthetic latex rubber imports skyrocketed to $X in 2021. In general, imports recorded a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia represented the major importer of synthetic latex rubber in the world, with the volume of imports resulting at X tons, which was near 38% of total imports in 2021. It was distantly followed by Thailand (X tons) and China (X tons), together constituting a 21% share of total imports. Italy (X tons), Vietnam (X tons), Belgium (X tons), Turkey (X tons), Indonesia (X tons), Germany (X tons), the Netherlands (X tons), the United States (X tons), Austria (X tons) and Spain (X tons) held a little share of total imports.

Imports into Malaysia increased at an average annual rate of +16.3% from 2012 to 2021. At the same time, Vietnam (+23.2%), Thailand (+11.4%), Austria (+10.2%), Italy (+8.9%), China (+8.6%), Indonesia (+8.1%), the United States (+7.7%), Turkey (+6.0%), Germany (+4.1%) and Belgium (+2.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of +23.2% from 2012-2021. Spain experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.5%) illustrated a downward trend over the same period. While the share of Malaysia (+18 p.p.), Thailand (+2.7 p.p.) and Vietnam (+2.1 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Belgium (-1.8 p.p.), Spain (-1.8 p.p.) and the Netherlands (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported synthetic latex rubber worldwide, comprising 40% of global imports. The second position in the ranking was held by China ($X), with a 12% share of global imports. It was followed by Thailand, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value in Malaysia stood at +17.4%. The remaining importing countries recorded the following average annual rates of imports growth: China (+11.2% per year) and Thailand (+9.9% per year).

Import Prices by Country

The average synthetic latex rubber import price stood at $X per ton in 2021, jumping by 38% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Global import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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