South-Eastern Asia: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in South-Eastern Asia

The Southeast Asian synthetic rubber market dropped to $X in 2023, which is down by X% against the previous year. Overall, consumption continues to indicate a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Synthetic Rubber Production in South-Eastern Asia

In value terms, synthetic rubber production rose to $X in 2023 estimated in export price. In general, production recorded resilient growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Synthetic Rubber Exports

Exports in South-Eastern Asia

In 2023, the amount of synthetic rubber exported in South-Eastern Asia shrank modestly to X tons, declining by X% on 2022. In general, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2016 with an increase of X%. The volume of export peaked at X tons in 2022, and then fell slightly in the following year.

In value terms, synthetic rubber exports reduced to $X in 2023. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2022, and then fell in the following year.

Exports by Country

Thailand (X tons) and Vietnam (X tons) were the largest exporters of synthetic rubber in 2023, reaching approx. X% and X% of total exports, respectively. Malaysia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (X%). The following exporters - Indonesia (X tons), Myanmar (X tons) and Lao People's Democratic Republic (X tons) - together made up X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber supplying countries in South-Eastern Asia were Thailand ($X), Vietnam ($X) and Singapore ($X), with a combined X% share of total exports. Malaysia, Indonesia, Myanmar and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Lao People's Democratic Republic, with a CAGR of X%, saw 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

The export price in South-Eastern Asia stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, the export price saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Lao People's Democratic Republic ($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 leaders experienced a decline in the export price figures.

Synthetic Rubber Imports

Imports in South-Eastern Asia

In 2023, supplies from abroad of synthetic rubber decreased by X% to X tons, falling for the second consecutive year after ten years of growth. Total imports indicated a measured 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, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, synthetic rubber imports contracted significantly to $X in 2023. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid 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 lower figure.

Imports by Country

Thailand (X tons), Malaysia (X tons), Indonesia (X tons) and Vietnam (X tons) represented roughly X% of total imports in 2023. The following importers - Singapore (X tons) and the Philippines (X tons) - each amounted to a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber importing markets in South-Eastern Asia were Thailand ($X), Indonesia ($X) and Vietnam ($X), with a combined X% share of total imports. Malaysia, Singapore and the Philippines lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, the import price showed a perceptible slump. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a 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 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 the Philippines (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform