Unvulcanized Rubber Market

The article provides a comprehensive analysis of the global market for unvulcanized rubber and related articles from 2012 to 2022, with projections up to 2030. Key findings include trends in consumption, production, imports, exports, and price fluctuations. Insights are offered for major countries, highlighting changes in volumes and values over the years. Additionally, the data reveals growth rates for various product types, showing shifts in demand and pricing. Overall, the analysis presents a detailed picture of the market dynamics influencing the unvulcanized rubber industry.

Market Forecast

Driven by increasing demand for unvulcanized rubber and articles thereof worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.4% for the period from 2022 to 2030, which is projected to bring the market volume to 10M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.2% for the period from 2022 to 2030, which is projected to bring the market value to $40.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Unvulcanized Rubber And Articles Thereof

After two years of growth, consumption of unvulcanized rubber and articles thereof decreased by -2.5% to 8.3M tons in 2022. The total consumption volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 9.7% against the previous year. Global consumption peaked at 8.5M tons in 2021, and then shrank modestly in the following year.

The global unvulcanized rubber market value dropped modestly to $29.3B in 2022, declining by -1.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $29.9B, and then dropped in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (1.8M tons), the United States (1.1M tons) and Brazil (998K tons), with a combined 47% share of global consumption. Italy, Germany, Indonesia, India, Spain, Turkey, Poland, Saudi Arabia, France and Canada lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Turkey (with a CAGR of +15.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($4.8B), the United States ($4.5B) and Turkey ($4.1B) were the countries with the highest levels of market value in 2022, with a combined 46% share of the global market.

Turkey, with a CAGR of +16.6%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of unvulcanized rubber per capita consumption in 2022 were Italy (7.1 kg per person), Spain (5.2 kg per person) and Brazil (4.6 kg per person).

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +13.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Unvulcanized Rubber And Articles Thereof

In 2022, production of unvulcanized rubber and articles thereof decreased by -2.5% to 8.5M tons for the first time since 2019, thus ending a two-year rising trend. The total output volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 7.9% against the previous year. Over the period under review, global production hit record highs at 8.7M tons in 2021, and then reduced slightly in the following year.

In value terms, unvulcanized rubber production dropped slightly to $28.9B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 25%. Global production peaked at $33.6B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (1.9M tons), the United States (1.2M tons) and Brazil (987K tons), together accounting for 47% of global production.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +19.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Unvulcanized Rubber And Articles Thereof

In 2022, approx. 3.1M tons of unvulcanized rubber and articles thereof were imported worldwide; almost unchanged from the previous year's figure. Overall, imports continue to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2021 when imports increased by 14%. Over the period under review, global imports hit record highs at 4.3M tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, unvulcanized rubber imports expanded slightly to $12B in 2022. Over the period under review, imports showed a noticeable descent. The pace of growth appeared the most rapid in 2021 with an increase of 22%. Global imports peaked at $15.6B in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports By Country

The United States (280K tons), Germany (216K tons), Poland (202K tons), China (188K tons), India (150K tons), France (144K tons), Spain (120K tons), Mexico (111K tons), Vietnam (104K tons), Italy (103K tons), Canada (100K tons) and Romania (97K tons) represented roughly 58% of total imports in 2022. Belgium (92K tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +13.5%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.1B), Germany ($899M) and China ($882M) constituted the countries with the highest levels of imports in 2022, with a combined 24% share of global imports. Poland, Mexico, France, Canada, Italy, Vietnam, Spain, Belgium, Romania and India lagged somewhat behind, together comprising a further 37%.

Vietnam, with a CAGR of +15.2%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Compounded rubber, unvulcanised, in primary forms or in plates, sheets or strip was the major imported product with an import of about 2M tons, which amounted to 64% of total imports. It was distantly followed by plates, sheets, strip, rods and profile shapes, of vulcanised rubber other than hard rubber (842K tons) and vulcanised rubber thread and cord (214K tons), together achieving a 34% share of total imports. Rubber (67K tons) followed a long way behind the leaders.

Imports of compounded rubber, unvulcanised, in primary forms or in plates, sheets or strip decreased at an average annual rate of -4.1% from 2012 to 2022. At the same time, vulcanised rubber thread and cord (+3.9%) displayed positive paces of growth. Moreover, vulcanised rubber thread and cord emerged as the fastest-growing type imported in the world, with a CAGR of +3.9% from 2012-2022. Plates, sheets, strip, rods and profile shapes, of vulcanised rubber other than hard rubber experienced a relatively flat trend pattern. By contrast, rubber (-1.6%) illustrated a downward trend over the same period. Plates, sheets, strip, rods and profile shapes, of vulcanised rubber other than hard rubber (+6.7 p.p.) and vulcanised rubber thread and cord (+3.3 p.p.) significantly strengthened its position in terms of the global imports, while compounded rubber, unvulcanised, in primary forms or in plates, sheets or strip saw its share reduced by -10.2% from 2012 to 2022, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, compounded rubber, unvulcanised, in primary forms or in plates, sheets or strip ($6.6B), plates, sheets, strip, rods and profile shapes, of vulcanised rubber other than hard rubber ($4.4B) and vulcanised rubber thread and cord ($747M) appeared to be the products with the highest levels of imports in 2022, together accounting for 97% of global imports.

Vulcanised rubber thread and cord, with a CAGR of +2.7%, recorded the highest growth rate of the value of imports, among the main imported products over the period under review, while purchases for the other products experienced mixed trends in the imports figures.

Import Prices By Type

In 2022, the average unvulcanized rubber import price amounted to $3,851 per ton, rising by 4.7% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 15% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by the product type; the product with the highest price was plates, sheets, strip, rods and profile shapes, of vulcanised rubber other than hard rubber ($5,199 per ton), while the price for compounded rubber, unvulcanised, in primary forms or in plates, sheets or strip ($3,287 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by plates, sheets, strip, rods and profile shapes, of vulcanised rubber other than hard rubber (+0.5%), while the other products experienced a decline in the import price figures.

Import Prices By Country

In 2022, the average unvulcanized rubber import price amounted to $3,851 per ton, with an increase of 4.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 15% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($4,923 per ton), while India ($2,032 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+4.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Unvulcanized Rubber And Articles Thereof

Global unvulcanized rubber exports declined modestly to 3.3M tons in 2022, approximately equating 2021. Overall, exports saw a noticeable contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 13%. The global exports peaked at 4.3M tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, unvulcanized rubber exports amounted to $12.8B in 2022. Over the period under review, exports saw a perceptible reduction. The most prominent rate of growth was recorded in 2021 with an increase of 20% against the previous year. The global exports peaked at $16.5B in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

In 2022, Germany (493K tons), the United States (333K tons), China (268K tons), Thailand (248K tons), Italy (221K tons), Poland (158K tons), Canada (138K tons), France (134K tons), Spain (122K tons), the Czech Republic (108K tons), Belgium (106K tons) and Malaysia (106K tons) was the key exporter of unvulcanized rubber and articles thereof in the world, mixing up 75% of total export. The Netherlands (82K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +6.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($2.2B), the United States ($1.4B) and China ($979M) constituted the countries with the highest levels of exports in 2022, together comprising 36% of global exports.

Among the main exporting countries, China, with a CAGR of +9.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Compounded rubber, unvulcanised, in primary forms or in plates, sheets or strip was the main exported product with an export of about 2.1M tons, which amounted to 63% of total exports. It was distantly followed by plates, sheets, strip, rods and profile shapes, of vulcanised rubber other than hard rubber (933K tons) and vulcanised rubber thread and cord (219K tons), together making up a 35% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to compounded rubber, unvulcanised, in primary forms or in plates, sheets or strip exports of stood at -4.2%. At the same time, vulcanised rubber thread and cord (+1.1%) displayed positive paces of growth. Moreover, vulcanised rubber thread and cord emerged as the fastest-growing type exported in the world, with a CAGR of +1.1% from 2012-2022. Plates, sheets, strip, rods and profile shapes, of vulcanised rubber other than hard rubber experienced a relatively flat trend pattern. While the share of plates, sheets, strip, rods and profile shapes, of vulcanised rubber other than hard rubber (+8.3 p.p.) and vulcanised rubber thread and cord (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of compounded rubber, unvulcanised, in primary forms or in plates, sheets or strip (-10.3 p.p.) displayed negative dynamics.

In value terms, the largest types of exported unvulcanized rubber and articles thereof were compounded rubber, unvulcanised, in primary forms or in plates, sheets or strip ($6.6B), plates, sheets, strip, rods and profile shapes, of vulcanised rubber other than hard rubber ($5.1B) and vulcanised rubber thread and cord ($772M), with a combined 97% share of global exports.

Plates, sheets, strip, rods and profile shapes, of vulcanised rubber other than hard rubber, with a CAGR of +1.4%, saw the highest rates of growth with regard to the value of exports, among the main exported products over the period under review, while shipments for the other products experienced mixed trends in the exports figures.

Export Prices By Type

The average unvulcanized rubber export price stood at $3,922 per ton in 2022, increasing by 5.1% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 10% against the previous year. The global export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was rubber ($7,348 per ton), while the average price for exports of compounded rubber, unvulcanised, in primary forms or in plates, sheets or strip ($3,185 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by rubber; unvulcanised, other than "camel back" strips for retreading rubber tyres (+1.0%), while the other products experienced mixed trends in the export price figures.

Export Prices By Country

In 2022, the average unvulcanized rubber export price amounted to $3,922 per ton, rising by 5.1% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average export price increased by 10%. The global export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($4,722 per ton), while Poland ($2,785 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform