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Report World - Synthetic Rubber - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

World - Synthetic Rubber - Market Analysis, Forecast, Size, Trends and Insights

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Global Synthetic Rubber Market 2024

Synthetic Rubber Market Size

After two years of decline, the global synthetic rubber market increased by 24% to $X in 2021. Overall, consumption, however, recorded a slight setback. Over the period under review, the global market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Synthetic Rubber Production

In value terms, synthetic rubber production soared to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a slight slump. Global production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Synthetic Rubber Exports

Exports

After two years of growth, overseas shipments of synthetic rubber decreased by -0.1% to X tons in 2021. Over the period under review, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.4% 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 +8.2% against 2017 indices. The pace of growth was the most pronounced in 2016 when exports increased by 17% against the previous year. Over the period under review, the global exports hit record highs at X tons in 2020, and then fell slightly in the following year.

In value terms, synthetic rubber exports skyrocketed to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 38%. The global exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

The shipments of the twelve major exporters of synthetic rubber, namely South Korea, Thailand, Vietnam, Russia, the United States, Germany, Taiwan (Chinese), Japan, Malaysia, China, Belgium and France, represented more than two-thirds of total export.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +51.3%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber supplying countries worldwide were the United States ($X), South Korea ($X) and Japan ($X), with a combined 27% share of global exports. Thailand, Vietnam, Russia, Taiwan (Chinese), Germany, Belgium, China, Malaysia and France lagged somewhat behind, together comprising a further 53%.

In terms of the main exporting countries, Vietnam, with a CAGR of +69.6%, saw the highest growth rate of 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 rubber export price amounted to $X per ton, surging by 29% against the previous year. In general, the export price, however, recorded a noticeable contraction. The global export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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 ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+12.1%), while the other global leaders experienced mixed trends in the export price figures.

Synthetic Rubber Imports

Imports

In 2021, the amount of synthetic rubber imported worldwide stood at X tons, increasing by 3.6% against the previous year. In general, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +9.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 15%. Over the period under review, global imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, synthetic rubber imports surged to $X in 2021. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 34% against the previous year. Global imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

China was the main importing country with an import of around X tons, which reached 31% of total imports. Malaysia (X tons) took an 8% share (based on physical terms) of total imports, which put it in second place, followed by India (4.9%), Thailand (4.9%) and the United States (4.5%). The following importers - Germany (X tons), Belgium (X tons), Turkey (X tons), Indonesia (X tons), Italy (X tons), Poland (X tons), Brazil (X tons) and Vietnam (X tons) - together made up 22% of total imports.

China was also the fastest-growing in terms of the synthetic rubber imports, with a CAGR of +13.3% from 2012 to 2021. At the same time, Malaysia (+11.6%), Brazil (+5.5%), Turkey (+5.2%), Vietnam (+5.1%), Thailand (+5.0%), Poland (+4.9%), India (+4.5%), Italy (+3.5%), Indonesia (+3.1%), Belgium (+2.1%) and the United States (+1.6%) displayed positive paces of growth. Germany experienced a relatively flat trend pattern. From 2012 to 2021, the share of China and Malaysia increased by +15 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported synthetic rubber worldwide, comprising 28% of global imports. The second position in the ranking was held by Malaysia ($X), with an 8.3% share of global imports. It was followed by Thailand, with a 5.3% share.

In China, synthetic rubber imports increased at an average annual rate of +5.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+12.3% per year) and Thailand (+1.8% per year).

Import Prices by Country

In 2021, the average synthetic rubber import price amounted to $X per ton, increasing by 29% against the previous year. Overall, the import price, however, saw a noticeable shrinkage. Global import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Germany ($X per ton) and Indonesia ($X per ton), while India ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.6%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

China constituted the country with the largest volume of synthetic rubber consumption, comprising approx. 30% of total volume. Moreover, synthetic rubber consumption in China exceeded the figures recorded by the second-largest consumer, the United States, threefold. South Korea ranked third in terms of total consumption with a 5.9% share.
The countries with the highest volumes of synthetic rubber production in 2021 were China, the United States and South Korea, together accounting for 37% of global production. Japan, Russia, Thailand, Indonesia, Germany, Vietnam, Mexico, Taiwan Chinese), France and Italy lagged somewhat behind, together accounting for a further 41%.
In value terms, the United States, Thailand and South Korea constituted the countries with the highest levels of exports in 2021, together accounting for 29% of global exports. Japan, Russia, Germany, Vietnam, Belgium, Malaysia, France, Taiwan Chinese) and China lagged somewhat behind, together accounting for a further 51%.
In value terms, China constitutes the largest market for imported synthetic rubber worldwide, comprising 29% of global imports. The second position in the ranking was occupied by Thailand, with a 5.8% share of global imports. It was followed by the United States, with a 5.5% share.
The average synthetic rubber export price stood at $2,015 per ton in 2021, jumping by 28% against the previous year.
The average synthetic rubber import price stood at $1,857 per ton in 2021, with an increase of 16% against the previous year.

This report provides an in-depth analysis of the global synthetic rubber market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 20171050 - Synthetic latex rubber
  • Prodcom 20171090 - Synthetic rubber (excluding latex)

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Arlanxeo, Sinopec, KKPC, Petrochina, TSRC, ExxonMobil, Goodyear, NKNH, JSR, Sibur, LG, Versails, Grupo Dynasol, LCY, Kraton, Zeon, Synthos, Trinseo, Asahi, Michelin, Firestone, Lion, Reliace

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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