Updated Jan 11, 2023 17:46

Market for Natural Rubber And Gum in Greece

Market Overview
In , the Greek natural rubber and gum market increased by % to $, rising for the second year in a row after two years of decline. In general, consumption continues to indicate a moderate increase. Over the period under review, the market reached the peak level in and is expected to retain growth in the near future.


Consumption
For the third consecutive year, Greece recorded growth in consumption of natural rubber and gums, which increased by % to tons in . In general, consumption enjoyed moderate growth. Natural rubber and gum consumption peaked in and is likely to see steady growth in the near future.

The revenue of the natural rubber and gum market in Greece surged to $ in , rising by % 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). Over the period under review, consumption continues to indicate tangible growth. Natural rubber and gum consumption peaked in and is likely to continue growth in the near future.


Market Forecast
The natural rubber and gum market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Natural rubber and gum market in Greece consists almost entirely of imported products.


Trade Balance
Greece remains a net importer of natural rubber and gum; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.