Report Update May 7, 2024

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

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Global Synthetic Rubber Market 2024

Synthetic Rubber Market Size

The global synthetic rubber market declined modestly to $X in 2023, falling by X% against the previous year. Over the period under review, consumption saw a slight descent. Global consumption peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Synthetic Rubber Production

In value terms, synthetic rubber production expanded slightly to $X in 2023 estimated in export price. In general, production, however, saw a mild reduction. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. Global production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Synthetic Rubber Exports

Exports

In 2023, approx. X tons of synthetic rubber were exported worldwide; which is down by X% on 2022 figures. In general, total exports indicated a measured expansion from 2012 to 2023: its volume 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. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the global exports attained the peak figure at X tons in 2022, and then shrank slightly in the following year.

In value terms, synthetic rubber exports dropped to $X in 2023. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The global exports peaked at $X in 2022, and then shrank in the following year.

Exports by Country

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

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

In value terms, South Korea ($X), Thailand ($X) and the United States ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of global exports. Vietnam, Japan, Russia, China, Germany, Taiwan (Chinese), Belgium and Malaysia lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

In 2023, the average synthetic rubber export price amounted to $X per ton, reducing by X% against the previous year. Overall, the export price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Synthetic Rubber Imports

Imports

In 2023, purchases abroad of synthetic rubber decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, total imports indicated a moderate expansion from 2012 to 2023: its volume 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, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, global imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, synthetic rubber imports shrank markedly to $X in 2023. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, global imports reached the peak figure at $X in 2022, and then contracted significantly in the following year.

Imports by Country

China represented the main importer of synthetic rubber in the world, with the volume of imports resulting at X tons, which was near X% of total imports in 2023. It was distantly followed by Thailand (X tons), generating a X% share of total imports. The following importers - Malaysia (X tons), the United States (X tons), India (X tons), Belgium (X tons), Germany (X tons), Turkey (X tons), Indonesia (X tons), Vietnam (X tons), Italy (X tons), Poland (X tons) and Brazil (X tons) - together made up X% of total imports.

China was also the fastest-growing in terms of the synthetic rubber imports, with a CAGR of X% from 2012 to 2023. At the same time, Vietnam (X%), Turkey (X%), Thailand (X%), Malaysia (X%), Indonesia (X%), Poland (X%), Italy (X%), Brazil (X%) and India (X%) displayed positive paces of growth. Belgium and the United States experienced a relatively flat trend pattern. By contrast, Germany (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the global imports, while the United States and Germany saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported synthetic rubber worldwide, comprising X% of global imports. The second position in the ranking was taken by the United States ($X), with a X% share of global imports. It was followed by Belgium, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: the United States (X% per year) and Belgium (X% per year).

Import Prices by Country

In 2023, the average synthetic rubber import price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price recorded a noticeable decrease. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
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. 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. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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
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