Eastern Asia: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in Eastern Asia

The East Asian synthetic latex rubber market soared to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Synthetic Latex Rubber Production in Eastern Asia

In value terms, synthetic latex rubber production expanded slightly to $X in 2022 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Synthetic Latex Rubber Exports

Exports in Eastern Asia

In 2022, shipments abroad of synthetic latex rubber decreased by X% to X tons for the first time since 2011, thus ending a ten-year rising trend. Over the period under review, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then dropped sharply in the following year.

In value terms, synthetic latex rubber exports declined significantly to $X in 2022. Overall, exports, however, continue to indicate a noticeable expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then contracted dramatically in the following year.

Exports by Country

South Korea was the largest exporter of synthetic latex rubber in Eastern Asia, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. Taiwan (Chinese) (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Japan (X%) and China (X%).

From 2012 to 2022, 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 Japan (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. While the share of South Korea (X p.p.) and China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (X p.p.) and Taiwan (Chinese) (X p.p.) displayed negative dynamics.

In value terms, the largest synthetic latex rubber supplying countries in Eastern Asia were South Korea ($X), Japan ($X) and Taiwan (Chinese) ($X), together comprising X% of total exports. China lagged somewhat behind, comprising a further X%.

In terms of the main exporting countries, China, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the export price in Eastern Asia amounted to $X per ton, shrinking by X% against the previous year. In general, the export price recorded a slight descent. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced a decline in the export price figures.

Synthetic Latex Rubber Imports

Imports in Eastern Asia

After three years of growth, purchases abroad of synthetic latex rubber decreased by X% to X tons in 2022. Total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of import peaked at X tons in 2021, and then dropped rapidly in the following year.

In value terms, synthetic latex rubber imports contracted dramatically to $X in 2022. Over the period under review, imports, however, saw moderate growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then shrank significantly in the following year.

Imports by Country

China dominates imports structure, amounting to X tons, which was approx. X% of total imports in 2022. 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 2022. 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 2012-2022, the share of South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) displayed negative dynamics.

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

In China, synthetic latex rubber imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, 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 2022, 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

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