China: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in China

The Chinese market for isoprene rubber (IR) in primary forms reduced to $X in 2023, which is down by X% against 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). In general, consumption, however, saw a abrupt descent. Consumption of peaked at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports from China

In 2023, overseas shipments of isoprene rubber (IR) in primary forms increased by X% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports saw significant growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports of reached the peak figure in 2023 and are likely to continue growth in the near future.

In value terms, exports of isoprene rubber (IR) in primary forms expanded remarkably to $X in 2023. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports of reached the maximum in 2023 and are expected to retain growth in the immediate term.

Exports by Country

India (X tons), Vietnam (X tons) and Indonesia (X tons) were the main destinations of exports of isoprene rubber (IR) in primary forms from China, with a combined X% share of total exports. Thailand, Mexico, the United States, Spain, Poland, Malaysia, Brazil, Cambodia and South Korea lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Mexico (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Vietnam ($X) and Indonesia ($X) were the largest markets for isoprene rubber (IR) in primary form exported from China worldwide, with a combined X% share of total exports. The United States, Thailand, Mexico, Malaysia, Spain, Poland, South Korea, Cambodia and Brazil lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Mexico, with a CAGR of X.6%, saw the highest growth rate of 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 2023, the average export price for isoprene rubber (IR) in primary forms amounted to $X per ton, dropping by X% against the previous year. In general, the export price saw a abrupt slump. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports into China

In 2023, imports of isoprene rubber (IR) in primary forms into China soared to X tons, rising by X% compared with the previous year. Over the period under review, total imports indicated a mild increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked in 2023 and are expected to retain growth in the immediate term.

In value terms, imports of isoprene rubber (IR) in primary forms shrank to $X in 2023. In general, imports, however, continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2022 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Russia (X tons) constituted the largest supplier of isoprene rubber (IR) in primary form to China, accounting for a X% share of total imports. Moreover, imports of isoprene rubber (IR) in primary forms from Russia exceeded the figures recorded by the second-largest supplier, Japan (X tons), sevenfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Russia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the largest isoprene rubber (IR) in primary form suppliers to China were Russia ($X), Japan ($X) and Taiwan (Chinese) ($X), together comprising X% of total imports.

Among the main suppliers, Japan, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2023, the average import price for isoprene rubber (IR) in primary forms amounted to $X per ton, declining by X% against the previous year. In general, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform