Global Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size

The global synthetic latex rubber market totaled $X in 2023, almost unchanged from the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the global market remained at a somewhat lower figure.

Synthetic Latex Rubber Production

In value terms, synthetic latex rubber production expanded modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, global production growth failed to regain momentum.

Synthetic Latex Rubber Exports

Exports

In 2023, the amount of synthetic latex rubber exported worldwide rose remarkably to X tons, growing by X% against the year before. In general, total exports indicated a slight 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 decreased by X% against 2021 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The global exports peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, synthetic latex rubber exports rose markedly to $X in 2023. Over the period under review, exports enjoyed modest growth. The most prominent rate of growth was recorded 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 global exports remained at a somewhat lower figure.

Exports by Country

South Korea represented the main exporter of synthetic latex rubber in the world, with the volume of exports reaching X tons, which was approx. X% of total exports in 2023. It was distantly followed by Germany (X tons), Taiwan (Chinese) (X tons), the Netherlands (X tons), Malaysia (X tons) and the United States (X tons), together achieving a X% share of total exports. Belgium (X tons), China (X tons), Thailand (X tons), India (X tons), Japan (X tons), Italy (X tons) and Indonesia (X tons) followed a long way behind the leaders.

Exports from South Korea increased at an average annual rate of X% from 2012 to 2023. At the same time, India (X%), Thailand (X%), China (X%), Indonesia (X%), Taiwan (Chinese) (X%) and Italy (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. The Netherlands and Japan experienced a relatively flat trend pattern. By contrast, Malaysia (X%), Germany (X%), Belgium (X%) and the United States (X%) illustrated a downward trend over the same period. South Korea (X p.p.), Taiwan (Chinese) (X p.p.), China (X p.p.), Thailand (X p.p.) and India (X p.p.) significantly strengthened its position in terms of the global exports, while Malaysia, Belgium, the United States and Germany saw its share reduced by X%, X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In South Korea, synthetic latex rubber exports expanded 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 Germany (X% per year).

Export Prices by Country

In 2023, the average synthetic latex rubber export price amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Thailand ($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 global leaders experienced more modest paces of growth.

Synthetic Latex Rubber Imports

Imports

In 2023, purchases abroad of synthetic latex rubber decreased by X% to X tons, falling for the second consecutive year after ten years of growth. In general, imports, however, enjoyed a temperate increase. 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 tons. From 2022 to 2023, the growth of global imports failed to regain momentum.

In value terms, synthetic latex rubber imports shrank dramatically to $X in 2023. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of global imports remained at a lower figure.

Imports by Country

In 2023, Malaysia (X tons), distantly followed by China (X tons) and Thailand (X tons) were the key importers of synthetic latex rubber, together creating X% of total imports. Vietnam (X tons), Turkey (X tons), Italy (X tons), the Netherlands (X tons), the United States (X tons), Indonesia (X tons), Germany (X tons), Belgium (X tons), Spain (X tons) and the UK (X tons) followed a long way behind the leaders.

Imports into Malaysia increased at an average annual rate of X% from 2012 to 2023. At the same time, Vietnam (X%), Turkey (X%), the United States (X%), Italy (X%), China (X%), Indonesia (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2023. Germany experienced a relatively flat trend pattern. By contrast, the UK (X%), the Netherlands (X%), Spain (X%) and Belgium (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.), Malaysia (X p.p.) and China (X p.p.) increased significantly in terms of the global imports from 2012-2023, the share of the Netherlands (X p.p.) and Belgium (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), China ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of global imports. Vietnam, Indonesia, the United States, Turkey, the Netherlands, Italy, Germany, Belgium, Spain and the UK lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Vietnam, 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 global leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average synthetic latex rubber import price amounted to $X per ton, falling by X% against the previous year. Overall, the import price saw a noticeable contraction. The growth pace was the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, 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 Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform