Southern Asia: Unvulcanized Rubber Market 2024

Unvulcanized Rubber Market Size in Southern Asia

After two years of growth, the South Asian unvulcanized rubber market decreased by X% to $X in 2023. The total consumption indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2022, and then reduced in the following year.

Unvulcanized Rubber Production in Southern Asia

In value terms, unvulcanized rubber production reduced slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Unvulcanized Rubber Exports

Exports in Southern Asia

In 2023, overseas shipments of unvulcanized rubber and articles thereof increased by X% to X tons, rising for the third consecutive year after two years of decline. Total exports indicated a tangible expansion 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2023 and are likely to see gradual growth in the near future.

In value terms, unvulcanized rubber exports reached $X in 2023. Total exports indicated a modest expansion from 2012 to 2023: its value 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

India prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2023. It was distantly followed by Sri Lanka (X tons), making up a X% share of total exports.

India was also the fastest-growing in terms of the unvulcanized rubber and articles thereof exports, with a CAGR of X% from 2012 to 2023. Sri Lanka (X%) illustrated a downward trend over the same period. India (X p.p.) significantly strengthened its position in terms of the total exports, while Sri Lanka saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, India ($X) remains the largest unvulcanized rubber supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a X% share of total exports.

In India, unvulcanized rubber exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2023, waning by X% against the previous year. Overall, the export price continues to indicate a mild decrease. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2023, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while India stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sri Lanka (X%).

Unvulcanized Rubber Imports

Imports in Southern Asia

For the third consecutive year, Southern Asia recorded growth in overseas purchases of unvulcanized rubber and articles thereof, which increased by X% to X tons in 2023. In general, imports showed a strong expansion. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports reached the peak figure in 2023 and are likely to continue growth in the near future.

In value terms, unvulcanized rubber imports contracted to $X in 2023. Overall, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2022, and then shrank in the following year.

Imports by Country

India prevails in imports structure, reaching X tons, which was approx. X% of total imports in 2023. Bangladesh (X tons) held the second position in the ranking, followed by Sri Lanka (X tons). All these countries together took near X% share of total imports. Pakistan (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the unvulcanized rubber and articles thereof imports, with a CAGR of X% from 2012 to 2023. At the same time, Bangladesh (X%), Sri Lanka (X%) and Pakistan (X%) displayed positive paces of growth. While the share of India (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Bangladesh (X p.p.), Pakistan (X p.p.) and Sri Lanka (X p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported unvulcanized rubber and articles thereof in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total imports. It was followed by Sri Lanka, with a X% share.

In India, unvulcanized rubber imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Sri Lanka (X% per year).

Import Prices by Country

In 2023, the import price in Southern Asia amounted to $X per ton, falling by X% against the previous year. Overall, the import price saw a pronounced reduction. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Bangladesh ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform