Eastern Asia: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in Eastern Asia

In 2023, after seven years of growth, there was decline in the East Asian synthetic latex rubber market, when its value decreased by X% to $X. The total consumption indicated temperate 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 2015 indices. The level of consumption peaked at $X in 2022, and then contracted in the following year.

Synthetic Latex Rubber Production in Eastern Asia

In value terms, synthetic latex rubber production rose modestly to $X in 2023 estimated in export price. The total production indicated measured growth 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, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Synthetic Latex Rubber Exports

Exports in Eastern Asia

In 2023, the amount of synthetic latex rubber exported in Eastern Asia soared to X tons, picking up by X% against 2022 figures. In general, exports posted buoyant growth. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, synthetic latex rubber exports skyrocketed to $X in 2023. Over the period under review, exports recorded resilient growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

South Korea was the major exporting country with an export of about X tons, which accounted for X% of total exports. It was distantly followed by Taiwan (Chinese) (X tons), China (X tons) and Japan (X tons), together constituting a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to synthetic latex rubber exports from South Korea stood at X%. At the same time, China (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. Japan experienced a relatively flat trend pattern. South Korea (X p.p.) and China (X p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) and Japan saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, South Korea ($X) remains the largest synthetic latex rubber supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

In South Korea, synthetic latex rubber exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and Japan (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, growing by X% against the previous year. Export price indicated a slight expansion from 2012 to 2023: its price 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, synthetic latex rubber export price decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2023.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Synthetic Latex Rubber Imports

Imports in Eastern Asia

In 2023, approx. X tons of synthetic latex rubber were imported in Eastern Asia; surging by X% against the previous year's figure. Total imports indicated a measured 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 decreased by X% against 2021 indices. The growth pace was the most rapid in 2017 with an increase of X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, synthetic latex rubber imports fell remarkably to $X in 2023. Over the period under review, imports recorded slight growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

China prevails in imports structure, resulting at X tons, which was approx. X% of total imports in 2023. South Korea (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the synthetic latex rubber imports, with a CAGR of X% from 2012 to 2023. South Korea (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported synthetic latex rubber in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports.

In China, synthetic latex 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: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the import price continues to indicate a slight contraction. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the import prices failed to regain momentum.

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

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

Source: IndexBox Platform